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Property profile & analytics
FOR LEASE
Banks
556 Merrick Rd, Rockville Centre, NY 11570
Individually Owned
35-yr Hold
Free & Clear
Property ID
US63-0290288
For Lease
1 / 2
$1,920,000
556 Merrick Rd, Rockville Centre, NY 11570
View Listing →
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,997 SF
Lot
0.55 ac (23,914 SF)
APN
38-339-00-0031
UPID
US63-0290288
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cosgrove Dental - Paul F Cosgrove DDS Dental Office
-
S Shore Women Medical Physician
-
Rockville Centre Dentist Dental Office
-
Essential Dental Dental Office
-
Kaylor James J DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.92M
Owner & transaction history
Vincent Papsidero · 35 yrs held
Vincent Papsidero
since 1990
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.8M
+14.4%
Neighborhood: shopping center
$1.8M
+9.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Rockville Centre submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rockville Centre submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$1,605,000
Current use
WAREHOUSE, STORAGE
$1,835,000
Change: +14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,750,000
Change: +9% · Conversion: Difficult
OFFICE BUILDING
$1,410,000
Change: -12% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,345,000
Change: -16% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,295,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.92M
Range $1.73M – $2.11M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$961 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$88,691
Tax year 2023
Assessed value
$20,870
Assessed 2023
Previous assessed
$23,682
-11.9% YoY
Effective rate
424.97%
On assessed value
Assessed land
$20,869
Assessed improvement
$1.00
Total market value
$2,087,000
Applied tax rate
401.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Banks
Use group
FINANCIAL BUILDING
Status
For Lease
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Total area
1,997 SF
Lot
0.55 ac (23,914 SF)
APN
38-339-00-0031
UPID
US63-0290288
Jurisdiction
NASSAU
Metro division
NASSAU-SUFFOLK, NY METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.3M
FINANCIAL BUILDING Current
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
0.55 ac
Current owner
From public records · entity-resolved
Vincent Papsidero
Individual
Free & Clear · 35 yrs held
Mailing address
556 MERRICK RD #1, ROCKVILLE CENTRE, NY 11570-5487
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1990
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2016
—
556 Merrick Road LLC
—
Deed
related
$500,000 · Nassau Educators FCU
Oct 4, 1990
$525,000
Vincent Papsidero
Unknown
Grant Deed
—
—
—
556 Merrick Road LLC
—
Deed Of Trust
related
$3,000,000 · Nassau Educators FCU
—
—
556 Merrick Road LLC
—
Deed Of Trust
related
$500,000 · Nassau Educators FCU
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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