| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 66th | Good |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 565 Merrick Rd, Rockville Centre, NY, 11570, US |
| Region / Metro | Rockville Centre |
| Year of Construction | 2006 |
| Units | 23 |
| Transaction Date | 2016-05-18 |
| Transaction Price | $6,510,000 |
| Buyer | FAIRFIELD TUDOR AT ROCKVILLE CENTRE LLC |
| Seller | SN SERVICES CORPORATION |
565 Merrick Rd Rockville Centre 2006 Multifamily Investment
Located in an inner-suburban Nassau County setting with strong neighborhood amenities and a high-cost ownership market, the asset benefits from steady renter demand and occupancy levels measured for the neighborhood that trend above national medians, according to WDSuite’s CRE market data. Commercial real estate analysis points to income depth and proximity to employment nodes as supportive of retention and leasing stability.
Rockville Centre’s immediate neighborhood scores well for daily needs and lifestyle convenience. Amenity access is competitive among 608 Nassau–Suffolk metro neighborhoods and sits comfortably above national averages, with restaurants, cafes, groceries, and pharmacies concentrated nearby. This convenience supports leasing velocity and retention for workforce and professional tenants.
Schools average around the national mid-to-upper range (above the 50th percentile nationally), which can aid family-oriented renter stability. Neighborhood multifamily occupancy is measured for the neighborhood and tracks above the national median, reinforcing expectations for steady operations rather than outsized volatility.
Tenure dynamics point to a predominantly owner-occupied area, with a relatively low share of renter-occupied housing units. For investors, that typically means a more selective renter pool but one supported by higher household incomes and limited near-term competing rental stock, aiding renewal prospects when product quality and management execution are strong.
Within a 3-mile radius, demographics show recent population and household growth with further expansion forecast, implying a larger tenant base over the next cycle. Rising incomes in the 3-mile area, coupled with elevated ownership costs locally, underpin demand for well-maintained multifamily product and support occupancy stability and pricing discipline over time.
Comparable crime data for this neighborhood are not available in WDSuite’s current release. Investors typically evaluate safety by comparing multi-year neighborhood trends to metro and county benchmarks and by incorporating property-level measures (lighting, access control, and visibility) during diligence.
The area draws from a diversified employment base across insurance, healthcare distribution, banking, airlines, and pharmaceuticals, supporting commuter convenience and a stable renter pool.
- Prudential — insurance (11.6 miles)
- Fernando Monasterio - Citizens Bank, Home Mortgages — banking & mortgages (13.3 miles)
- Henry Schein — healthcare distribution (13.7 miles) — HQ
- Jetblue Airways — airline (17.4 miles) — HQ
- Pfizer — pharmaceuticals (19.1 miles) — HQ
Built in 2006, the property is materially newer than the area’s older housing stock, offering competitive positioning versus pre-war assets while approaching mid-life building systems—suggesting thoughtful capital planning can unlock value and sustain rentability. Neighborhood occupancy trends track above national medians and the 3-mile trade area shows population and household expansion, which supports a larger tenant base and steadier leasing fundamentals. Based on CRE market data from WDSuite, elevated local home values and strong household incomes reinforce reliance on multifamily options and can support pricing discipline without overextending affordability.
The surrounding neighborhood posts strong amenity access—particularly for restaurants, cafes, groceries, and pharmacies—helping retention for professionals and families who prioritize convenience. While the immediate area is more owner-oriented, limited rental alternatives and income depth can support stable occupancy for well-managed, quality product.
- 2006 vintage outcompetes older local stock; plan mid-life CapEx to sustain advantage.
- Neighborhood occupancy trends above national medians support leasing stability.
- High-cost ownership market and income depth bolster multifamily demand and pricing power.
- Strong amenity concentration (food, groceries, pharmacies) aids retention and renter appeal.
- Risk: lower renter-occupied share locally may limit depth; performance hinges on quality and management.