Live-Work Office/Residential
23 S Village Avenue Rockville Centre, NY 11570
For Sale
$250,000
SINGLE_FAMILY - Rockville Centre, NY
Property Size742 SF
Price / SF$336.93
Days on Market332
Property Features for 23 S Village Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning
Comm
Parking
1
Parking features
Assigned, Parking Lot
Security features
Security
Fencing
Chain Link, Perimeter
Basement
Unfinished, Storage Space
Standard status
Active
APN
2029-38-319-00-0016-0
Taxes and HOA fees
Tax Year
2025
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Oil, Forced Air
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1939
Floors in Building
1
Number of units
1
Flooring type
Carpet, Vinyl, Tile - Ceramic
Building materials
Block, Brick
Additional Structures
Residence
Listing Agency:
Leatherman Homes
(516) 766-1400
Listed By:
Kevin M. Leatherman ABR SFR C2EX A
(516) 984-1815
Added: Sep 2, 2025
Changed: Jul 28
Last Checked: Jul 30 at 9:06AM
MLS# 906784
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.
An unusual mid-size live-work space in Elmwood House, also known as 51 Lincoln Avenue, within a 31-unit co-operative community in the village. This suite is configured for both professional office/medical use or residential occupancy, with a floor plan originally prepared for residential purposes. Approximately 742 sq. ft., and washer and dryer are allowed in the unit, with an additional common laundry room in the building’s basement.
Monthly maintenance is $1,106 and includes property taxes, heating costs, water, hot water, grounds care, and a resident super. 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 community features a security parking gate at the private driveway entrance/exit, along with a rear pedestrian-secured gate for access.
Owner occupancy is required, not for investor purposes. The community is pet-friendly, with permission to keep one dog up to 30 lbs or one cat within a residential unit.
Monthly maintenance is $1,106 and includes property taxes, heating costs, water, hot water, grounds care, and a resident super. 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 community features a security parking gate at the private driveway entrance/exit, along with a rear pedestrian-secured gate for access.
Owner occupancy is required, not for investor purposes. The community is pet-friendly, with permission to keep one dog up to 30 lbs or one cat within a residential unit.
Key Highlights
- Approximately 742 sq. ft. professional office/medical suite or residential unit in Elmwood House (51 Lincoln Avenue)
- Part of a 31‑unit co‑operative community in the village, with this being the mid‑size mixed‑use unit
- Monthly maintenance of $1,106 includes property taxes, heating, water, hot water, grounds care, and resident super
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 | $20.7k | $27.96 |
| − Vacancy | −$3.7k | −$5.03 |
| EGI | $17.0k | $22.93 |
| − OpEx | −$4.3k | −$5.73 |
| NOI | $12.8k | $17.20 |
742 SF · lease $27.96/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$182.3K
$159.5K – $212.7K
NOI $12,759 @ 7.0% cap · market cap 5.10%
Second Best
Mixed Use
$146.3K
$128.0K – $170.7K
NOI $10,240 @ 7.0% cap · market cap 4.10%
Theoretical Best
Specialty Retail
$490.6K
$429.3K – $572.4K
NOI $34,342 @ 7.0% cap · market cap 13.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Live-work space - Mid-size suite in Elmwood House with washer/dryer allowances and municipal parking nearby.
Where is this live-work space located?
The property is located at 23 S Village Avenue Rockville Centre, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Approximately 742 sq. ft. professional office/medical suite or residential unit in Elmwood House (51 Lincoln Avenue); Part of a 31‑unit co‑operative community in the village, with this being the mid‑size mixed‑use unit; Monthly maintenance of $1,106 includes property taxes, heating, water, hot water, grounds care, and resident super
