Live-Work Office
21 S Village Avenue Rockville Centre, NY 11570
21 S Village Avenue, Rockville Centre, NY, 11570
$229,000
Pending
For Sale
$229,000
Pending
SINGLE_FAMILY - Rockville Centre, NY
Property Size550 SF
Days on Market308
Property Features for 21 S Village Avenue
General Information
- Property type
- Residential
- Property subtype
- Office
- Security features
- Security
- Standard status
- Pending
- Size
- 550 SF
Taxes and HOA fees
- Tax Year
- 2026
Utilities
- Utilities
- Natural Gas Available
- Sewer type
- Public Sewer
- Heating system
- Oil
- Cooling system
- Window Unit(s), Wall/Window Unit(s)
- Water source
- Public
Building Details
- Floors in Building
- 1
- Number of units
- 1
- Building materials
- Brick
Listing Agency
Douglas Elliman Real Estate
(516) 354-6500
390 Franklin Ave, Huntington Station, NY
Listed by
Charles V. Maione · License #30MA0969498
(516) 984-5596
Added: Sep 16, 2025 Updated: Jun 10 at 1:30 pm Checked: Jul 20 at 9:06 pm
MLS# 915463
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in Elmwood House (also known as 51 Lincoln Avenue), this approximately 550-square-foot live-work space offers flexibility as a professional office/medical suite or as a residential unit. The unit has been updated with new electric and flooring, and it accommodates in-unit convenience with washer and dryer allowed. A common laundry room is located in the building’s basement.
The property is served by a private driveway entrance and exit controlled by a security parking gate, along with a rear pedestrian-secured gate for access. Municipal parking is available in the lot adjacent to the rear of the property or across Lincoln Avenue on the side of Frank’s Steakhouse. The monthly maintenance is $1,021 and includes property taxes, heating costs, water, hot water, grounds care, and a resident super.
This is an owner-occupancy-focused unit, and board approval is required. After two years of owner occupancy, the unit may be leased, but it is not for investor purposes. The community is pet friendly: one dog up to 30 lbs. or one cat is permitted per residential unit. A 20% down payment is required, and the buyer pays a 1.5% sale transfer fee.
The property is served by a private driveway entrance and exit controlled by a security parking gate, along with a rear pedestrian-secured gate for access. Municipal parking is available in the lot adjacent to the rear of the property or across Lincoln Avenue on the side of Frank’s Steakhouse. The monthly maintenance is $1,021 and includes property taxes, heating costs, water, hot water, grounds care, and a resident super.
This is an owner-occupancy-focused unit, and board approval is required. After two years of owner occupancy, the unit may be leased, but it is not for investor purposes. The community is pet friendly: one dog up to 30 lbs. or one cat is permitted per residential unit. A 20% down payment is required, and the buyer pays a 1.5% sale transfer fee.
Key Highlights
- Monthly maintenance covers property taxes, heating, water, hot water, grounds care, and resident Super.
- Approximately 550 sq. ft. suitable for live‑work space.
- Enjoy new electric and flooring.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.4k | $27.96 |
| − Vacancy | −$2.8k | −$5.03 |
| EGI | $12.6k | $22.93 |
| − OpEx | −$3.2k | −$5.73 |
| NOI | $9.5k | $17.20 |
550 SF · lease $27.96/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$135.1K
$118.2K – $157.6K
NOI $9,457 @ 7.0% cap · market cap 4.13%
Second Best
Mixed Use
$108.4K
$94.9K – $126.5K
NOI $7,590 @ 7.0% cap · market cap 3.31%
Theoretical Best
Specialty Retail
$363.6K
$318.2K – $424.3K
NOI $25,455 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Perlmutter Harriet E
Foster Care Service
Autumn's Apron
Training Center
Wine & Design
Art Studio
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Versatile suite in Elmwood House with new electric and flooring, suited for owner-occupied live-work use.
Where is this live-work space located?
The property is located at 21 S Village Avenue Rockville Centre, NY.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Monthly maintenance covers property taxes, heating, water, hot water, grounds care, and resident Super.; Approximately 550 sq. ft. suitable for live‑work space.; Enjoy new electric and flooring.
