Flex Space with
For Sale
$1,950,000
970 Route 134, Dennis, MA 02638
Commercial Sale, Dennis, MA
Property Size10,101 SF
Lot Size0.87 Acres
Price / SF$193.05
Days on Market182
Property Features for 970 Route 134
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
EB
Appliances
Water Heater
Elementary school district
Dennis-Yarmouth
Middle school district
Dennis-Yarmouth
High school district
Dennis-Yarmouth
Directions
South Dennis exit from Mid Cape Hwy to 970 Rt. 134.
Subdivision
Dennis
Standard status
Active
APN
DENN M:000233 P:009-000
Size
10,101 SF
Lot size
0.87 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3608
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1971
Floors in Building
1
Flooring type
Concrete
Building materials
Steel Siding
Listing Agency:
Commercial Realty Advisors, Inc.
(508) 862-9000
Listed By:
Kevin Pepe
(508) 962-5022
Added: Mar 4
Changed: Aug 20
Last Checked: Sep 2 at 1:06PM
MLS# 22600602
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 10,101-square-foot flex property combines retail and showroom floor space with multiple office areas, workshop and service sections, and general inventory storage. The building includes concrete flooring, steel siding, central air, and natural gas heating. Public water and a septic tank serve the property, which was built in 1971.
Paved parking and driveways provide on-site circulation, with additional area for equipment display or storage. The property is located at 970 Route 134 in Dennis, Massachusetts, on a 0.87-acre parcel. Stated permitted uses include general retail, consumer services, restaurants, professional or business offices, indoor recreation, agricultural use, stables, and non-commercial-scale solar energy generation, subject to applicable town approvals where required.
Paved parking and driveways provide on-site circulation, with additional area for equipment display or storage. The property is located at 970 Route 134 in Dennis, Massachusetts, on a 0.87-acre parcel. Stated permitted uses include general retail, consumer services, restaurants, professional or business offices, indoor recreation, agricultural use, stables, and non-commercial-scale solar energy generation, subject to applicable town approvals where required.
Key Highlights
- 10,101 square feet on a 0.87‑acre parcel
- Showroom, retail floor space, offices, workshop areas, and inventory storage
- Paved parking and driveways with space for equipment display or storage
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
$145,854
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
7.48%
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%
$2,917,080
$2.9M
Cap Rate 7%
$2,083,629
$2.1M
Cap Rate 9%
$1,620,600
$1.6M
Market Conditions
NOI Build-Up for 10,101 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
$218.2K $21.60/SF
− Vacancy
−$9.8K −$0.97/SF
EGI
$208.4K $20.63/SF
− OpEx
−$62.5K −$6.19/SF
NOI
$145.9K $14.44/SF
Area
Barnstable County, MA
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$2,917,080
Cap Rate 7%
$2,083,629
Cap Rate 9%
$1,620,600
Alternative Uses
Best Use
Retail
$2.96M
$2.59M – $3.46M
NOI $207,454 @ 7.0% cap · market cap 10.64%
Second Best
Industrial
$2.08M
$1.82M – $2.43M
NOI $145,854 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$4.12M
$3.60M – $4.80M
NOI $288,135 @ 7.0% cap · market cap 14.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02638, MA
2,968
Population
3,043
Households
1
Avg Household Size
64
Median Age
40%
College-Educated
99%
High-School Grad
5.6 sq mi
ZIP Area
530
Density / Sq Mi
$117,619
Median Household Income
$44,702
Median Earnings
$1,689
Median Rent
$714,000
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial building with showroom, offices, workshop areas, storage, and paved parking for varied business operations.
Where is this flex space located?
The property is located at 970 Route 134 Dennis, MA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 10,101 square feet on a 0.87‑acre parcel; Showroom, retail floor space, offices, workshop areas, and inventory storage; Paved parking and driveways with space for equipment display or storage
