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    Historic Office Building with Parking Title is generated by Realmo AI

    1 Locust Street, Falmouth, MA 02540

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    Claim this Listing
    New
    For Lease
    $26,400 SF/Yr $5,678,200/Mo (calc)

    COMMERCIAL - Falmouth, MA

    Type:Office
    Property size:
    2,581 SF
    Lot size:
    0.45 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 2 at 7:06 pm

    Property Features for 1 Locust Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Appliances
    Water Heater
    Standard status
    Active
    APN
    FALM 47A S:03 P:064 L:000
    Size
    2,581 SF
    Lot size
    0.45 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    5770

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Year built
    1808
    Floors in Building
    3
    Flooring type
    Hardwood
    Building materials
    Clapboard
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Mike Valentine
    Mike Valentine

    Listing agent Mike Valentine

    Listing office Premier Commercial 1645 Falmouth Road, Building G, Centerville, MA

    Listing date Jun 2, 2026

    MLS# 22602602

    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

    • Nearly 1,100 SF office building built in 1808
    • Four private offices plus a dedicated conference room
    • Private bathroom and functional office layout designed for professional use
    • Natural gas heating; hardwood flooring; asphalt roof
    • Public water and public sewer
    • Abundant side parking for clients and employees

    Overview

    Set in a charming 1800s-era office building, this nearly 1,100 square foot suite is arranged to support day-to-day professional workflows. The space includes four private offices plus a dedicated conference room, along with a private bathroom. A functional layout and office-ready configuration make it well suited for businesses that need both focused workspace and a place for client or team meetings.

    The property occupies a prominent intersection at West Main Street, North Main Street, and Locust Street, overlooking the Village Green. The visibility and recognizable setting are complemented by abundant side parking for clients and employees. Immediate occupancy is available, and the location offers convenient access to downtown amenities, restaurants, and major routes.

    This suite is a strong fit for a wide range of office-based users, including real estate, financial services, legal and administrative operations, consulting, insurance, or other professional organizations. With its historic character, straightforward interior layout, and practical parking, it provides a polished environment that can help establish credibility from the moment clients arrive.
    Property Profile Location Intelligence

    Current Use by Public Records

    Beach House By ... Hardware & Home Improvement Compass - Freitas Monteforte ... Real Estate Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Falmouth
    County
    Barnstable
    State
    Massachusetts
    Longitude
    -70.622294
    Latitude
    41.55479

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    FAQs

    What type of property is this?
    Office units - Nearly 1,100 SF office suite in an 1800s building with four private offices, dedicated conference room, and private bath.
    Where is this office units located?
    The property is located at 1 Locust Street Falmouth, MA.
    What is the lease rate?
    The lease rate is $26,400.
    What are key features of this property?
    This property features: Nearly 1,100 SF office building built in 1808; Four private offices plus a dedicated conference room; Private bathroom and functional office layout designed for professional use
    (508) 958-6927
    We can help!
    Listing Contact
    Mike Valentine
    Mike Valentine
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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.

    More about this property
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