Route 28 Office
For Sale
$799,000
1200 Route 28, Yarmouth, MA 02664
Office building with multiple private offices, conference space, and on-site parking, plus large Route 28 signage.
Property Size2,415 SF
Price / SF$330.85
Days on Market91
Property Features for 1200 Route 28
General Information
Standard status
Active
Size
2,415 SF
Property subtype
Commercial
Building Details
Year Built
1972
Listing Agency:
Commercial Realty Advisors,Inc.
Listed By:
Kevin A. Pepe
(508) 862-9000
Source:
Sarkisboston
Added: Jun 8
Changed: Sep 5
Last Checked: Sep 5 at 9:05AM
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 Commercial Realty Advisors,Inc.
Investment Insights
Based on property information with market context.
This Route 28 office building features multiple private offices, reception areas, conference space, storage, and three bathrooms. The property also includes front and rear egress and offers ample on-site parking. A tenant income component is available as part of the sale.
The building is located on Route 28 in Yarmouth and has large signage along Route 28 for added visibility. It is in a B2 zoning district that supports a range of commercial and professional service uses, providing flexibility for an owner-user.
The existing layout includes dedicated work areas, meeting/conference space, and storage, supported by the building’s multiple bathrooms and two-sided egress.
The building is located on Route 28 in Yarmouth and has large signage along Route 28 for added visibility. It is in a B2 zoning district that supports a range of commercial and professional service uses, providing flexibility for an owner-user.
The existing layout includes dedicated work areas, meeting/conference space, and storage, supported by the building’s multiple bathrooms and two-sided egress.
Key Highlights
- 2,415 SF office building built in 1972 at 1200 Rt 28 in South Yarmouth
- Multiple private offices plus reception areas, conference space, and storage
- Three bathrooms and front and rear egress
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
$50,773
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
6.35%
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%
$1,015,460
$1.0M
Cap Rate 7%
$725,329
$725.3K
Cap Rate 9%
$564,144
$564.1K
Market Conditions
NOI Build-Up for 2,415 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
$84.6K $35.04/SF
− Vacancy
−$16.9K −$7.01/SF
EGI
$67.7K $28.03/SF
− OpEx
−$16.9K −$7.01/SF
NOI
$50.8K $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%
$1,015,460
Cap Rate 7%
$725,329
Cap Rate 9%
$564,144
Alternative Uses
Best Use
Office B
$725.3K
$634.7K – $846.2K
NOI $50,773 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$984.1K
$861.1K – $1.15M
NOI $68,889 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
Demographics for 02664, MA
9,935
Population
7,185
Households
1.4
Avg Household Size
55
Median Age
38%
College-Educated
95%
High-School Grad
7.0 sq mi
ZIP Area
1,419
Density / Sq Mi
$78,796
Median Household Income
$43,285
Median Earnings
$1,692
Median Rent
$479,400
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?
Office building - Office building with multiple private offices, conference space, and on-site parking, plus large Route 28 signage.
Where is this office building located?
The property is located at 1200 Route 28 Yarmouth, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,415 SF office building built in 1972 at 1200 Rt 28 in South Yarmouth; Multiple private offices plus reception areas, conference space, and storage; Three bathrooms and front and rear egress
