Office-Built Flex
For Sale
$340,000
1-4 Bourne Ave, Sandwich, MA 02563
Commercial condominium with upper-level storage, two assigned parking spaces, Route 28A signage, and B-2 Business zoning.
Property Size1,375 SF
Price / SF$247.27
Days on Market24
Property Features for 1-4 Bourne Ave
General Information
Standard status
Active
Size
1,375 SF
Total Parking Spaces
2
Zoning
B-2
Taxes and HOA fees
Annual Taxes
$1,864
Amenities
Route 28A signage
Building Details
Tenancy
Single
Listing Agency:
Hartel Realty
(617) 256-3169
Listed By:
Greg Hartel
(617) 256-3169
Source:
Exprealty
Added: Jul 28
Changed: Aug 20
Last Checked: Aug 20 at 11:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hartel Realty
Investment Insights
Based on property information with market context.
This 1,375± square foot flex-space condominium is configured for office use within Crane Circle Commercial Business Park. The professionally completed interior includes upper-level storage, creating additional functional space within the unit. The property is currently occupied by a long-term tenant, supporting continued commercial use.
The condominium includes two assigned parking spaces and signage along Route 28A. B-2 Business zoning supports a broad range of commercial applications. Together, the office build-out, storage component, parking, signage, and established business-park setting create a practical configuration for an owner-user or commercial property investor.
The condominium includes two assigned parking spaces and signage along Route 28A. B-2 Business zoning supports a broad range of commercial applications. Together, the office build-out, storage component, parking, signage, and established business-park setting create a practical configuration for an owner-user or commercial property investor.
Key Highlights
- 1, 375± square foot flex‑space condominium
- Professionally built out for office use with upper‑level storage
- Long‑term tenant currently in place
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
$28,908
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
8.50%
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%
$578,160
$578.2K
Cap Rate 7%
$412,971
$413.0K
Cap Rate 9%
$321,200
$321.2K
Market Conditions
NOI Build-Up for 1,375 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
$48.2K $35.04/SF
− Vacancy
−$9.6K −$7.01/SF
EGI
$38.5K $28.03/SF
− OpEx
−$9.6K −$7.01/SF
NOI
$28.9K $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%
$578,160
Cap Rate 7%
$412,971
Cap Rate 9%
$321,200
Alternative Uses
Best Use
Office B
$413.0K
$361.4K – $481.8K
NOI $28,908 @ 7.0% cap · market cap 8.50%
Second Best
Industrial
$283.6K
$248.2K – $330.9K
NOI $19,854 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$560.3K
$490.3K – $653.7K
NOI $39,222 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 02563, MA
10,070
Population
4,898
Households
2.1
Avg Household Size
52
Median Age
52%
College-Educated
99%
High-School Grad
13.2 sq mi
ZIP Area
763
Density / Sq Mi
$117,558
Median Household Income
$49,726
Median Earnings
$1,764
Median Rent
$552,900
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?
Flex space - Commercial condominium with upper-level storage, two assigned parking spaces, Route 28A signage, and B-2 Business zoning.
Where is this flex space located?
The property is located at 1-4 Bourne Ave Sandwich, MA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1, 375± square foot flex‑space condominium; Professionally built out for office use with upper‑level storage; Long‑term tenant currently in place
