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    Chatham Commercial Building For Sale Title is generated by Realmo AI

    697 Main Street, Chatham, MA 02633

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    For Sale
    $2,499,000

    COMMERCIAL - Chatham, MA

    Type:Office
    Property size:
    4,235 SF
    Lot size:
    0.26 Acres
    Price / SF:
    $590/SF
    Added:
    Sep 9, 2024
    Days on Market:
    634
    Last Refresh:
    Jun 4 at 8:06 pm

    Property Features for 697 Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Parking features
    Parking Lot
    Security features
    Security System
    Interior features
    High Speed Internet
    Basement
    Full
    Appliances
    Water Heater
    Standard status
    Active
    APN
    14E-19-13A
    Size
    4,235 SF
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    4473

    Utilities

    Utilities
    Phone Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1962
    Floors in Building
    3
    Number of units
    1
    Flooring type
    Carpet, Tile
    Building materials
    Wood Frame, Clapboard, Shingle Siding
    Roof type
    Wood

    We can help!

    Listing Contact
    The Grattan Group

    Listing agent The Grattan Group License #9511217

    Listing office Christie's International Real Estate Atlantic Brokerage 720 Main Street, Chatham, MA

    Listing date Sep 9, 2024

    MLS# 22404451

    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.

    HighLights

    • Prime in‑town location with high visibility and signage opportunities.
    • Thirteen parking spaces on‑site, supplemented by additional public parking.
    • ADA‑compliant with an elevator providing access to all three finished floors.
    • Versatile space suitable for professional offices, commercial use, retail, or potential apartment conversion.
    • Extensively renovated in 2008 and expanded in 2015.
    • Multiple finished floors, including reception area, offices, lounge, and unfinished space for customization.

    Overview

    This in-town property is suitable for a professional office, commercial space, retail store, with the possibility of an upstairs apartment. The building features over three finished floors. There are 13 parking spaces available, with additional public parking across the street. The property was fully renovated in 2008, with additional space added in 2015. It is ADA-compliant and includes an elevator providing access to all three floors. Currently used as professional offices, the first floor comprises a reception area, 5 professional offices, and a waiting area. The second floor includes a full bath and 6 offices. The lower level features 2 half baths, a lounge area, another finished space, and access to the utilities and elevator mechanical room, as well as a large unfinished area. The property is positioned prominently with signage and exposure in town, presenting an opportunity for establishing and growing a business. The property has a lot size of 0.26 acres and a property size of 4,235 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Eldredge & Lumpkin Insurance Insurance Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chatham
    County
    Barnstable
    State
    Massachusetts
    Longitude
    -69.963014
    Latitude
    41.683081

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    FAQs

    What type of property is this?
    Office building - In-town commercial property suitable for office, retail, or apartment.
    Where is this office building located?
    The property is located at 697 Main Street Chatham, MA.
    What is the asking price?
    The asking price for this property is $2,499,000.
    What are key features of this property?
    This property features: Prime in‑town location with high visibility and signage opportunities.; Thirteen parking spaces on‑site, supplemented by additional public parking.; ADA‑compliant with an elevator providing access to all three finished floors.
    (508) 294-4978
    We can help!
    Listing Contact
    The Grattan Group
    Real Estate License ID: 9511217
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    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.

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