Quadplex with Detached 4-Car
For Sale
$1,999,999
163/165 Lincoln Avenue, Rockville Centre, NY 11570
MULTI_FAMILY - Colonial - Rockville Centre, NY
Property Size3,000 SF
Lot Size0.51 Acres
Price / SF$666.67
Days on Market53
Property Features for 163/165 Lincoln Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Basement, Bathroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 3
Parking
10
Parking features
Parking Lot, Driveway, Garage
Patio and Porch features
Porch
Interior features
First Floor Bedroom, First Floor Full Bath, Ceiling Fan(s), Chandelier, Crown Molding, Eat-in Kitchen, Granite Counters, Pantry
Exterior features
Mailbox, Rain Gutters
Fireplace
1
Basement
Crawl Space, Unfinished, Partial
Lot features
Back Yard, Irregular Lot, Landscaped, Level, Near Public Transit, Near School, Near Shops, Private, Sprinklers In Front
Elementary school
School 2
Middle school
School 9M-Oceanside Middle School
High school
School 7-Oceanside Senior Hs
Elementary school district
Oceanside
Middle school district
Oceanside
High school district
Oceanside
Directions
South on S. Park Ave, Left on Lincoln Ave
Standard status
Active
APN
2029-38-323-00-0131-0 and 38-323_00_0132_0
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
26076
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
butler pantry
wood burning fireplace
shared unfinished attic space
shared laundry facilities
shared outdoor recreation area
Building Details
Year built
1920
Number of units
4
Building materials
Block, Stone, Vinyl Siding
Architectural style
Colonial
Listing Agency:
Signature Premier Properties
(516) 546-6300
Listed By:
George Haase
(516) 647-4813
Added: Jun 18
Changed: Aug 1
Last Checked: Aug 9 at 4:06AM
MLS# 1013918
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.
This Colonial quadplex investment opportunity consists of 2 semi-attached “legal non conforming use” two-family homes, built about 1920, for a total of 4 units. Each home has 2 updated one-bedroom, one-bath units, totaling 4 units, with each unit having about 750 square feet. Upper units provide direct access to a 3rd floor shared unfinished attic space for storage. The property also includes outside basement access to shared laundry facilities, and the ground floor units have interior stairs to the unfinished common basement for storage and laundry access.
The ground floor units feature both front and back doors, a butler pantry, and a wood burning fireplace. Tenant parking is supported by a generous sized parking lot with 2 assigned spaces per unit. There is also a detached 4 car garage and an additional shared outdoor recreation area located behind the garage for barbecuing and outdoor enjoyment.
Set on an approximately 0.5079-acre lot with public water and public sewer and natural gas heating, the units are described as being in high demand due to proximity to the town of Rockville Centre and the Long Island Railroad.
The ground floor units feature both front and back doors, a butler pantry, and a wood burning fireplace. Tenant parking is supported by a generous sized parking lot with 2 assigned spaces per unit. There is also a detached 4 car garage and an additional shared outdoor recreation area located behind the garage for barbecuing and outdoor enjoyment.
Set on an approximately 0.5079-acre lot with public water and public sewer and natural gas heating, the units are described as being in high demand due to proximity to the town of Rockville Centre and the Long Island Railroad.
Key Highlights
- Built about 1920 Colonial quadplex with 4 one‑bedroom, one‑bath units
- 2 semi‑attached “legal non conforming use” two‑family homes, total of 4 units
- About 750 SF per unit; upper units access a shared unfinished 3rd‑floor attic for storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,154
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,143,080
$1.1M
Cap Rate 7%
$816,486
$816.5K
Cap Rate 9%
$635,044
$635.0K
Market Conditions
NOI Build-Up for 3,000 SF
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.
Gross rent
$86.4K $28.80/SF
− Vacancy
−$4.8K −$1.58/SF
EGI
$81.6K $27.22/SF
− OpEx
−$24.5K −$8.16/SF
NOI
$57.2K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,143,080
Cap Rate 7%
$816,486
Cap Rate 9%
$635,044
Alternative Uses
Best Use
Multifamily LT 5
$816.5K
$714.4K – $952.6K
NOI $57,154 @ 7.0% cap · market cap 2.86%
Second Best
Apartment 5plus
$764.5K
$668.9K – $891.9K
NOI $53,512 @ 7.0% cap · market cap 2.68%
Theoretical Best
Specialty Retail
$1.98M
$1.74M – $2.31M
NOI $138,848 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,837
Businesses Nearby
Explore this area
Business Placement
Demographics for 11570, NY
29,023
Population
11,368
Households
2.6
Avg Household Size
42
Median Age
62%
College-Educated
95%
High-School Grad
3.6 sq mi
ZIP Area
8,062
Density / Sq Mi
$147,784
Median Household Income
$91,332
Median Earnings
$1,804
Median Rent
$786,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Colonial quadplex offering four one-bedroom units with dedicated parking and basement laundry access.
Where is this quadplex located?
The property is located at 163/165 Lincoln Avenue Rockville Centre, NY.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: Built about 1920 Colonial quadplex with 4 one‑bedroom, one‑bath units; 2 semi‑attached “legal non conforming use” two‑family homes, total of 4 units; About 750 SF per unit; upper units access a shared unfinished 3rd‑floor attic for storage
