Corner Office
For Sale
$485,000
212 Orleans Road, North Chatham, MA 02650
COMMERCIAL - North Chatham, MA
Property Size1,123 SF
Price / SF$431.88
Days on Market439
Property Features for 212 Orleans Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
SB
Appliances
Water Heater
Elementary school district
Monomoy
Middle school district
Monomoy
High school district
Monomoy
Directions
North Chatham at the intersection of Route 28 and Stony Hill Road.
Subdivision
Chatham
Standard status
Active
APN
14H-64-X212A
Size
1,123 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
584
Utilities
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1986
Flooring type
Concrete
Building materials
Shingle Siding
Roof type
Asphalt
Listing Agency:
Gibson Sotheby's International Realty
(508) 945-0000
Listed By:
Keith W Bradley
(508) 221-0711
Added: Jun 11, 2025
Changed: Aug 7
Last Checked: Aug 23 at 12:06AM
MLS# 22502876
Copyright © 2026 Cape Cod & Islands Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office unit offers 1,123 square feet in a corner configuration and is being offered in its existing as-is condition. The space provides a straightforward base for a buyer’s planned improvements and includes concrete flooring, shingle siding, and an asphalt roof.
Constructed in 1986, the property is served by public water and natural gas heating. The address is 212 Orleans Road in North Chatham, Massachusetts, within Barnstable County. A water heater is included among the property’s installed equipment.
Constructed in 1986, the property is served by public water and natural gas heating. The address is 212 Orleans Road in North Chatham, Massachusetts, within Barnstable County. A water heater is included among the property’s installed equipment.
Key Highlights
- 1,123‑square‑foot corner office unit
- Built in 1986
- Public water service
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
$23,610
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
4.87%
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%
$472,200
$472.2K
Cap Rate 7%
$337,286
$337.3K
Cap Rate 9%
$262,333
$262.3K
Market Conditions
NOI Build-Up for 1,123 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
$39.3K $35.04/SF
− Vacancy
−$7.9K −$7.01/SF
EGI
$31.5K $28.03/SF
− OpEx
−$7.9K −$7.01/SF
NOI
$23.6K $21.02/SF
Area
Barnstable County, MA
Vacancy
20.00%
Lease Rate
$35.04 /SF/Yr
Expense Ratio
25.00%
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%
$472,200
Cap Rate 7%
$337,286
Cap Rate 9%
$262,333
Alternative Uses
Best Use
Office B
$337.3K
$295.1K – $393.5K
NOI $23,610 @ 7.0% cap · market cap 4.87%
Second Best
Healthcare Medical
$226.8K
$198.5K – $264.6K
NOI $15,876 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$457.6K
$400.4K – $533.9K
NOI $32,034 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 02650, MA
829
Population
808
Households
1
Avg Household Size
67
Median Age
58%
College-Educated
97%
High-School Grad
1.4 sq mi
ZIP Area
592
Density / Sq Mi
$65,982
Median Household Income
$52,885
Median Earnings
$973,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office unit with public water service, natural gas heating, and a configuration ready for custom improvements.
Where is this office units located?
The property is located at 212 Orleans Road North Chatham, MA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 1,123‑square‑foot corner office unit; Built in 1986; Public water service
