Mixed-Use Property with Drive-In
New
For Sale
$1,295,000
1012 Route 28, Harwich, MA 02645
Renovated mixed-use property combines a commercial workshop, offices, unfinished upper-level areas, and two apartments.
Property Size4,223 SF
Lot Size0.92 Acres
Days on Market2
Property Features for 1012 Route 28
General Information
Standard status
Active
Size
4,223 SF
Lot size
0.92 Acres
Property subtype
Commercial
Zoning
CH-1
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$7,383
Building Details
Building Size
4,223 SF
Year Built
1880
Year Renovated
2012
Listing Agency:
Kinlin Grover Compass
Listed By:
Amy Harbeck · License #9554777
(508) 364-5845
Source:
Classifiedrealtygroup
Added: Sep 8
Last Checked: Sep 8 at 2:43PM
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 Kinlin Grover Compass
Investment Insights
Based on property information with market context.
Built in 1880 and extensively renovated in 2012, this mixed-use property combines commercial and residential components on a .92-acre corner lot. The commercial portion includes a drive-in workshop with radiant heat, two dedicated offices, vehicle and trailer parking, and two unfinished areas above the workshop. Ceiling heights reach 16'5" in the rear half and 12'6" in the front.
The residential component includes two 2-bedroom apartments, each with air conditioning and separate outdoor space. Mature landscaping surrounds the residential areas. The property is located at 1012 Route 28 in Harwich, Massachusetts, and is zoned CH-1. Renovation work included the foundation, basement, windows, doors, siding, plumbing, electrical, mechanical systems, natural gas hydro-air heat, and septic system.
The residential component includes two 2-bedroom apartments, each with air conditioning and separate outdoor space. Mature landscaping surrounds the residential areas. The property is located at 1012 Route 28 in Harwich, Massachusetts, and is zoned CH-1. Renovation work included the foundation, basement, windows, doors, siding, plumbing, electrical, mechanical systems, natural gas hydro-air heat, and septic system.
Key Highlights
- .92‑acre corner lot at 1012 Route 28, Harwich, MA 02645
- Drive‑in workshop with radiant heat and ceiling heights of 16'5" and 12'6"
- Two dedicated offices plus parking for vehicles and trailers
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
$88,784
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
6.86%
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%
$1,775,680
$1.8M
Cap Rate 7%
$1,268,343
$1.3M
Cap Rate 9%
$986,489
$986.5K
Market Conditions
NOI Build-Up for 4,223 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
$148.0K $35.04/SF
− Vacancy
−$29.6K −$7.01/SF
EGI
$118.4K $28.03/SF
− OpEx
−$29.6K −$7.01/SF
NOI
$88.8K $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%
$1,775,680
Cap Rate 7%
$1,268,343
Cap Rate 9%
$986,489
Alternative Uses
Best Use
Office B
$1.27M
$1.11M – $1.48M
NOI $88,784 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,622 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,463 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 02645, MA
10,436
Population
6,745
Households
1.5
Avg Household Size
55
Median Age
43%
College-Educated
99%
High-School Grad
16.9 sq mi
ZIP Area
618
Density / Sq Mi
$89,898
Median Household Income
$56,692
Median Earnings
$1,809
Median Rent
$581,200
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?
Mixed-use property - Renovated mixed-use property combines a commercial workshop, offices, unfinished upper-level areas, and two apartments.
Where is this mixed-use property located?
The property is located at 1012 Route 28 Harwich, MA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: .92‑acre corner lot at 1012 Route 28, Harwich, MA 02645; Drive‑in workshop with radiant heat and ceiling heights of 16'5" and 12'6"; Two dedicated offices plus parking for vehicles and trailers
