Building Details

Year Built 2023

Listing Agency: Realty Works, LLC

Listed By: Carmel Gilberti

Source: Corcoran

Added: May 14, 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 condominium unit, offered as a shell, presents an opportunity for a buyer to customize the space. The unit is centrally located within a newly constructed, mixed-use condominium development in Falmouth. The property features high ceilings and a public ADA accessible entry. The development is located on the site of the historic Nimrod Restaurant, and includes two custom framed buildings that house six ground-level commercial condominium units and seven second-floor residential units. The unit may be granted exclusive use of a basement storage unit, subject to buyer verification. The condominium fee includes landscaping, common area cleaning, rubbish/recycling, and snow removal.

Key Highlights

• Opportunity for custom build‑out of commercial space.
• Excellent location and parking.
• Newly constructed commercial condo unit (shell).

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,252

Cap Rate

6.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$345,040 $345.0K

Cap Rate 7%

$246,457 $246.5K

Cap Rate 9%

$191,689 $191.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 840 SF

Gross rent

$25.2K $30.00/SF

− Vacancy

−$554 −$0.66/SF

EGI

$24.6K $29.34/SF

− OpEx

−$7.4K −$8.80/SF

NOI

$17.3K $20.54/SF

Area

Barnstable County, MA

Vacancy

2.20%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$345,040

Cap Rate 7%

$246,457

Cap Rate 9%

$191,689

Alternative Uses

Best Use

Retail

$246.5K

$215.7K – $287.5K (±1% cap)

NOI $17,252 @ 7.0% cap · market cap 6.05%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$342.3K

$299.5K – $399.4K (±1% cap)

NOI $23,961 @ 7.0% cap · market cap 8.41%

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

10k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 81% Apparel 19%

7-Eleven Shops & Services

4,525 visits/mo 0.4 miles

Bank of America Shops & Services

3,818 visits/mo 0.5 miles

West Marine Apparel

1,992 visits/mo 0.4 miles

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 Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Commercial land - Commercial condo shell with build-out opportunity in a mixed-use development.

Where is this commercial land located?

The property is located at 100 Dillingham Ave #A104 Falmouth, MA.

What is the asking price?

The asking price for this property is $285,000.

What are key features of this property?

This property features: Opportunity for custom build‑out of commercial space.; Excellent location and parking.; Newly constructed commercial condo unit (shell).