Well-Maintained Office
For Sale
$875,000
Pending
1383 Route 28a, Bourne, MA 02534
Well-maintained office building with flexible space configurations for office, professional, or mixed commercial use.
Property Size3,244 SF
Days on Market52
Property Features for 1383 Route 28a
General Information
Standard status
Pending
Size
3,244 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,522
Building Details
Building Size
3,244 SF
Year Built
1940
Listing Agency:
Hartel Realty
Listed By:
Greg Hartel
(617) 256-3169
Source:
Classifiedrealtygroup
Added: Jul 15
Changed: Aug 8
Last Checked: Jul 23 at 2:40AM
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 Hartel Realty
Investment Insights
Based on property information with market context.
This well-maintained office building offers flexible space configurations suited for office, professional, or mixed commercial use. The property presents an option for owner-users, investors, or business operators looking for a building that can support different operational layouts.
Located at 1383 Route 28a in Bourne, Massachusetts, the property is described as being surrounded by established businesses, coastal amenities, and residential neighborhoods within the Upper Cape market.
With its professional layout and adaptable configuration, the building is positioned for occupancy or for an investment approach that supports varying commercial uses, subject to applicable requirements.
Located at 1383 Route 28a in Bourne, Massachusetts, the property is described as being surrounded by established businesses, coastal amenities, and residential neighborhoods within the Upper Cape market.
With its professional layout and adaptable configuration, the building is positioned for occupancy or for an investment approach that supports varying commercial uses, subject to applicable requirements.
Key Highlights
- Built in 1940 office building with a well‑maintained structure.
- Flexible space configurations suitable for office, professional, or mixed commercial use.
- Designed to accommodate both owner‑users and investors/business operators.
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
$68,202
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
7.79%
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%
$1,364,040
$1.4M
Cap Rate 7%
$974,314
$974.3K
Cap Rate 9%
$757,800
$757.8K
Market Conditions
NOI Build-Up for 3,244 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
$113.7K $35.04/SF
− Vacancy
−$22.7K −$7.01/SF
EGI
$90.9K $28.03/SF
− OpEx
−$22.7K −$7.01/SF
NOI
$68.2K $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 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%
$1,364,040
Cap Rate 7%
$974,314
Cap Rate 9%
$757,800
Alternative Uses
Best Use
Office B
$974.3K
$852.5K – $1.14M
NOI $68,202 @ 7.0% cap · market cap 7.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,537 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 02534, MA
899
Population
628
Households
1.4
Avg Household Size
58
Median Age
70%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
333
Density / Sq Mi
$171,169
Median Household Income
$74,645
Median Earnings
$1,010,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Well-maintained office building with flexible space configurations for office, professional, or mixed commercial use.
Where is this office building located?
The property is located at 1383 Route 28a Bourne, MA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Built in 1940 office building with a well‑maintained structure.; Flexible space configurations suitable for office, professional, or mixed commercial use.; Designed to accommodate both owner‑users and investors/business operators.
