Renovated Professional Building in
For Sale
$1,799,999
19 Morris Avenue, Rockville Centre, NY 11570
3,460 SF professional office building in downtown Rockville Centre.
Property Size3,460 SF
Price / SF$520.23
Days on Market205
Property Features for 19 Morris Avenue
General Information
Standard status
Active
Size
3,460 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$44,011
Building Details
Building Size
3,460 SF
Year Built
1934
Buildings
1
Stories
1
Units
1
Listing Agency:
Desimone Real Estate
(516) 534-2200
Listed By:
Serafino DeSimone
(516) 547-1310
Source:
Maurafinnegan
Added: Feb 16
Changed: Sep 8
Last Checked: Sep 8 at 5:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Desimone Real Estate
Investment Insights
Based on property information with market context.
Located in the heart of Rockville Centre's professional corridor, this renovated 3,460 SF freestanding professional office building offers an opportunity for investors or owner-users. The property is positioned in a desirable downtown area of Nassau County. Set on a lot with private parking, the single-story layout is suited for medical, legal, therapy, or multi-suite professional use. The building benefits from street presence and foot traffic, with proximity to restaurants, retail, municipal buildings, and the LIRR. The space provides configuration options suitable for a user headquarters or subdivision into multiple income-producing suites. The structure's layout supports waiting areas, reception, private offices, treatment rooms, and conference spaces. The location has a walk score of 95, indicating it is a walker's paradise, a bike score of 54, indicating it is bikeable, and a transit score of 53, indicating good transit options.
Key Highlights
- Prime downtown Rockville Centre location with high walkability (Walk Score: 95) and daily foot traffic.
- Fully renovated 3,460 SF freestanding professional office building.
- Flexible layout suitable for single‑tenant headquarters or multi‑tenant income‑producing suites.
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
$60,701
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
3.37%
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%
$1,214,020
$1.2M
Cap Rate 7%
$867,157
$867.2K
Cap Rate 9%
$674,456
$674.5K
Market Conditions
NOI Build-Up for 3,460 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
$117.5K $33.96/SF
− Vacancy
−$16.3K −$4.72/SF
EGI
$101.2K $29.24/SF
− OpEx
−$40.5K −$11.70/SF
NOI
$60.7K $17.54/SF
Area
Nassau County, NY
Vacancy
13.90%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
40.00%
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%
$1,214,020
Cap Rate 7%
$867,157
Cap Rate 9%
$674,456
Alternative Uses
Best Use
Healthcare Medical
$867.2K
$758.8K – $1.01M
NOI $60,701 @ 7.0% cap · market cap 3.37%
Second Best
Office B
$849.9K
$743.7K – $991.6K
NOI $59,496 @ 7.0% cap · market cap 3.31%
Theoretical Best
Specialty Retail
$2.29M
$2.00M – $2.67M
NOI $160,137 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,434
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 3,460 SF professional office building in downtown Rockville Centre.
Where is this office building located?
The property is located at 19 Morris Avenue Rockville Centre, NY.
What is the asking price?
The asking price for this property is $1,799,999.
What are key features of this property?
This property features: Prime downtown Rockville Centre location with high walkability (Walk Score: 95) and daily foot traffic.; Fully renovated 3,460 SF freestanding professional office building.; Flexible layout suitable for single‑tenant headquarters or multi‑tenant income‑producing suites.
