Building Details

Year Built 2022

Listing Agency: REALTY WORKS LLC

Listed By: CARMEL GILBERTI Show Phone

Source: Corcoran

Added: May 13, 2025 Changed: Mar 16 Last Checked: Mar 16 at 9:09AM

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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 REALTY WORKS LLC

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Investment Insights

Based on property information with market context.

This commercial condo shell presents a build-to-suit opportunity within a newly constructed mixed-use condominium development in Falmouth. The center unit benefits from high ceilings and an ADA-accessible public entry. The space offers flexibility for interior customization to suit specific business needs. Purchase options include the unit as-is (shell only), or the developer can collaborate on a custom build-out. Part of the historic Nimrod Restaurant development, the property comprises two custom-framed buildings with six ground-level commercial condo units and seven second-floor residential units. Potential exists for exclusive use of a basement storage unit, subject to buyer verification. The property includes landscaping, common area cleaning, rubbish/recycling, and snow removal. Units can be combined for additional space and are suitable for office or retail purposes. The property is located in a prime area and offers on-site parking.

Key Highlights

• Prime location in Falmouth within a newly constructed mixed‑use development.
• Build‑to‑suit opportunity with flexible space for customization.
• Option for developer collaboration on a custom build‑out.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,229

Cap Rate

6.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$504,580 $504.6K

Cap Rate 7%

$360,414 $360.4K

Cap Rate 9%

$280,322 $280.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$42.0K $35.04/SF

− Vacancy

−$8.4K −$7.01/SF

EGI

$33.6K $28.03/SF

− OpEx

−$8.4K −$7.01/SF

NOI

$25.2K $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 Rate 5%

$504,580

Cap Rate 7%

$360,414

Cap Rate 9%

$280,322

Alternative Uses

Best Use

Office B

$360.4K

$315.4K – $420.5K (±1% cap)

NOI $25,229 @ 7.0% cap · market cap 6.64%

Second Best

Retail

$352.1K

$308.1K – $410.8K (±1% cap)

NOI $24,646 @ 7.0% cap · market cap 6.49%

Theoretical Best

Office A

$489.0K

$427.9K – $570.5K (±1% cap)

NOI $34,231 @ 7.0% cap · market cap 9.01%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Blu Jade Spa ... Alternative Medicine Practice The Blu Pearl Spa ... Alternative Medicine Practice Dr. Annemarie M. ... Physician

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Electrical Service Locksmith Catering Service Plumbing Service Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,195

Businesses Nearby

Explore this area Business Placement

Demographics for 02540, MA

8,450

Population

6,200

Households

1.4

Avg Household Size

61

Median Age

59%

College-Educated

94%

High-School Grad

11.0 sq mi

ZIP Area

768

Density / Sq Mi

$88,266

Median Household Income

$52,243

Median Earnings

$1,328

Median Rent

$756,300

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - New commercial condo shell in mixed-use development, customizable for office/retail.

Where is this retail space located?

The property is located at 100 Dillingham Falmouth, MA.

What is the asking price?

The asking price for this property is $380,000.

What are key features of this property?

This property features: Prime location in Falmouth within a newly constructed mixed‑use development.; Build‑to‑suit opportunity with flexible space for customization.; Option for developer collaboration on a custom build‑out.