36-Unit Apartment
For Sale
$10,900,000
32-40 N Long Beach Road, Rockville Centre, NY 11570
Fully occupied property with varied unit layouts, off-street parking, and garage income.
Property Size32,435 SF
Days on Market52
Property Features for 32-40 N Long Beach Road
General Information
Standard status
Active
Size
32,435 SF
Total Parking Spaces
305
Property subtype
Commercial
Occupancy
100%
Units
Unit Mix
25 x 2BR, 6 x 1BR, 5 x Studio
Multifamily Units
36
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$131,354
Building Details
Building Size
32,435 SF
Year Built
1948
Buildings
5
Units
36
Listing Agency:
Coldwell Banker American Homes
(516) 665-2000
Listed By:
Aideen Duignan
Source:
Mahlerrealty
Added: Jul 11
Changed: Aug 28
Last Checked: Aug 28 at 11:29AM
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 Coldwell Banker American Homes
Investment Insights
Based on property information with market context.
This apartment complex contains 36 units, including 25 two-bedroom apartments, 6 one-bedroom apartments, and 5 studios. The property was built in 1948 and is fully rented, with off-street parking and additional garage income. Its mix of unit types supports a range of household needs within one multifamily asset.
Located at 32-40 N Long Beach Road in Rockville Centre, the property is 0.7 miles from Rockville and serves the Oceanside Schools area. The source information also identifies an approximately 35-minute express commute to New York City, providing a defined transportation connection for residents.
Located at 32-40 N Long Beach Road in Rockville Centre, the property is 0.7 miles from Rockville and serves the Oceanside Schools area. The source information also identifies an approximately 35-minute express commute to New York City, providing a defined transportation connection for residents.
Key Highlights
- 36 units: 25 two‑bedroom, 6 one‑bedroom, and 5 studio apartments
- Fully rented apartment complex
- Built in 1948
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
$578,559
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
5.31%
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%
$11,571,180
$11.6M
Cap Rate 7%
$8,265,129
$8.3M
Cap Rate 9%
$6,428,433
$6.4M
Market Conditions
NOI Build-Up for 32,435 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
$1.10M $33.96/SF
− Vacancy
−$49.6K −$1.53/SF
EGI
$1.05M $32.43/SF
− OpEx
−$473.4K −$14.59/SF
NOI
$578.6K $17.84/SF
Area
Nassau County, NY
Vacancy
4.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
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%
$11,571,180
Cap Rate 7%
$8,265,129
Cap Rate 9%
$6,428,433
Alternative Uses
Best Use
Apartment 5plus
$8.27M
$7.23M – $9.64M
NOI $578,559 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$21.45M
$18.76M – $25.02M
NOI $1,501,173 @ 7.0% cap · market cap 13.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
36
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,654
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?
Apartment building - Fully occupied property with varied unit layouts, off-street parking, and garage income.
Where is this apartment building located?
The property is located at 32-40 N Long Beach Road Rockville Centre, NY.
What is the asking price?
The asking price for this property is $10,900,000.
What are key features of this property?
This property features: 36 units: 25 two‑bedroom, 6 one‑bedroom, and 5 studio apartments; Fully rented apartment complex; Built in 1948
