Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    243 Merrick Rd Rockville Centre, NY 11570-5211

    • Office buildings
    • 3,116 SF
    • 0.09 lot acres
    OFF-MARKET
    Value Estimations
    $740,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0937822
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dr. Jimmy Bajaj / Pediatrician / Physician
    • Jill Erin Swartz / Pediatrician / Physician
    • Northwell Health Labs at Rockville Centre / Medical Clinic
    • Northwell Health-GoHealth Urgent Care / Medical Clinic
    • Gerilyn Feltham / Physician

    Property Details for 243 Merrick Rd

    Year built
    1929
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.09 lot acres
    Property size
    3,116 SF
    Property type
    Office buildings
    APN
    38-318-00-0354
    APU
    38318000354

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rockville Centre
    County
    Nassau
    State
    New York
    Longitude
    -73.6469
    Latitude
    40.6566
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $47,254
    $1,287
    $7,740
    $9,027
    -
    $0.00
    $0.00
    $902,700

    Comparable in this City

    • Value Estimation by Request
      2,564 SF

      9 Long Bch Rd

      OFFICE BUILDING • 2,564 SF
      9 Long Bch Rd, Rockville Centre, NY 11570-5621
      View Details
    • Value Estimation
      $2,490,000
      10,845 SF

      440 Merrick Rd

      PROFESSIONAL BUILDING (MULTI-STORY) • 10,845 SF
      440 Merrick Rd, Rockville Centre, NY 11570
      View Details
    • Value Estimation by Request
      3,104 SF

      119 Park Ave

      OFFICE BUILDING • 3,104 SF
      119 Park Ave, Rockville Centre, NY 11570-4113
      View Details
    • Value Estimation by Request
      2,303 SF

      111 Park Ave

      PROFESSIONAL BUILDING (MULTI-STORY) • 2,303 SF
      111 Park Ave, Rockville Centre, NY 11570-4105
      View Details
    • Value Estimation
      $780,000
      4,505 SF

      446-450 Sunrise Hwy

      OFFICE BUILDING • 4,505 SF
      446-450 Sunrise Hwy, Rockville Centre, NY 11570
      View Details
    • Value Estimation
      $875,000
      5,164 SF

      346 Sunrise Hwy352a

      PROFESSIONAL BUILDING (MULTI-STORY) • 5,164 SF
      346 Sunrise Hwy352a, Rockville Centre, NY 11570-4908
      View Details

    Similar Nearby for Sale

    • $4,999,000
      28,500 SF

      Rockville Centre Office Building For Sale

      28,500 SF office building on Sunrise Highway, Rockville Centre.
      486 Sunrise Hwy, Rockville Centre, NY 11570
      View Details
    • $3,799,000
      12,493 SF

      Rockville Centre Office Building Portfolio

      Two office buildings for sale in Rockville Centre, New York.
      55 Front St, Rockville Centre, NY 11570
      View Details
    • $248,000

      Rockville Centre Live-Work Space

      Professional office/medical suite or residential unit in Rockville Centre.
      21 S Village Ave, Rockville Centre, NY 11570
      View Details
    • $289,000
      Pending

      Former Medical Office in Rockville

      First-floor professional suite with flexible layout in prime location.
      195 N Vlg Ave Unit, Rockville Centre, NY 11570
      View Details
    • $1,600,000
      3,217 SF

      Rockville Centre Retail Corridor Opportunity

      Retail and office space in a high-traffic Rockville Centre location.
      43 N Village Ave, Rockville Centre, NY 11570
      View Details
    • $599,999
      1,700 SF

      Ground-Level Office in High-Traffic Area

      Spacious office space with private rooms, reception, and parking.
      200 N Village Ave, Rockville Centre, NY 11570
      View Details

    Similar Nearby for Lease

    • $12,000 /Mo
      5,570 SF

      Rockville Centre Office Building For Rent

      28,500 SF office building on Sunrise Highway available for rent.
      486 Sunrise Hwy, Rockville Centre, NY 11570
      View Details
    • Contact for pricing
      100,000 SF

      Rockville Centre Office Space Available

      Spacious office building with ample parking near LIRR station.
      165 N Village Ave, Rockville Centre, NY 11570
      View Details
    • Contact for pricing
      141,000 SF

      Prime Rockville Centre Office Space

      Multiple Suites Available, 675-7,020 SF
      100 Merrick Rd, Rockville Centre, NY 11570
      View Details
    • Contact for pricing
      1,640 SF

      Rockville Centre Office Space Available

      Lower level office suite near Mt. Sinai South Nassau Hospital.
      556 Merrick Rd, Rockville Centre, NY 11570
      View Details
    • Contact for pricing
      3,250 SF

      Rockville Centre Office Space Available

      Office space for rent in Rockville Centre, New York.
      265 Sunrise Hwy, Rockville Centre, NY 11570
      View Details
    • $14,000 /Mo
      4,500 SF

      Prime Rockville Centre Office Space

      Exceptional office space in the heart of Rockville Centre.
      184 Sunrise Hwy, Rockville Centre, NY 11570
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    243 Merrick Rd
    Rockville Centre, NY 11570-5211
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.