Owner-Occupied Live-Work
For Sale
$250,000
23 S Village Avenue, Rockville Centre, NY 11570
The cooperative permits residential occupancy or professional office and medical use, with owner occupancy required.
Property Size743 SF
Price / SF$336.47
Days on Market420
Property Features for 23 S Village Avenue
General Information
Standard status
Active
Size
743 SF
Class
C
Total Parking Spaces
1
Property subtype
Commercial
Zoning
Comm
Additional Details
HOA Fee
$1,183
Utilities to Site
Yes
Property Use
Professional Office/Medical Suite
Amenities
common laundry room
pet-friendly community
security parking gate
rear pedestrian-secured gate
Building Details
Building Size
743 SF
Year Built
1939
Buildings
1
Stories
3
Units
1
Tenancy
Multi
Listing Agency:
Leatherman Homes
(516) 766-1400
Listed By:
Kevin M. Leatherman ABR SFR C2EX A
(516) 984-1815
Source:
Croninreale
Added: Sep 2, 2025
Changed: Oct 25
Last Checked: Oct 26 at 3:50AM
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 Leatherman Homes
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Investment Insights
Based on property information with market context.
This live-work unit is part of a 31-unit cooperative community that includes three mixed-use units. Its floor plan is configured for residential use, while the property information also identifies professional office and medical use. Owner occupancy is required; the unit is not available for investor ownership. The building dates to 1939 and carries Comm zoning.
Residents may install a washer and dryer in the unit, and a shared laundry room is located in the basement. The community allows one dog weighing no more than 30 lbs. or one cat per residential unit. A secured gate serves the private driveway entrance and exit, with a separate secured pedestrian gate at the rear. Municipal parking is available in a lot behind the property or across Lincoln Avenue.
Residents may install a washer and dryer in the unit, and a shared laundry room is located in the basement. The community allows one dog weighing no more than 30 lbs. or one cat per residential unit. A secured gate serves the private driveway entrance and exit, with a separate secured pedestrian gate at the rear. Municipal parking is available in a lot behind the property or across Lincoln Avenue.
Key Highlights
- Part of a 31‑unit cooperative with three mixed‑use units
- Owner occupancy required; not for investor ownership
- Comm zoning; building constructed in 1939
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,776
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,520
$255.5K
Cap Rate 7%
$182,514
$182.5K
Cap Rate 9%
$141,956
$142.0K
Market Conditions
NOI Build-Up for 743 SF
Gross rent
$20.8K $27.96/SF
− Vacancy
−$3.7K −$5.03/SF
EGI
$17.0K $22.93/SF
− OpEx
−$4.3K −$5.73/SF
NOI
$12.8K $17.20/SF
Area
Nassau County, NY
Vacancy
18.00%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,520
Cap Rate 7%
$182,514
Cap Rate 9%
$141,956
Alternative Uses
Best Use
Office B
$182.5K
$159.7K – $212.9K
NOI $12,776 @ 7.0% cap · market cap 5.11%
Second Best
Mixed Use
$146.5K
$128.2K – $170.9K
NOI $10,253 @ 7.0% cap · market cap 4.10%
Theoretical Best
Specialty Retail
$491.3K
$429.9K – $573.1K
NOI $34,388 @ 7.0% cap · market cap 13.76%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,837
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Live-work space - The cooperative permits residential occupancy or professional office and medical use, with owner occupancy required.
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: Part of a 31‑unit cooperative with three mixed‑use units; Owner occupancy required; not for investor ownership; Comm zoning; building constructed in 1939
