Mixed-Use Property with
For Sale
Contact for pricing
Pending
515 Route 28, Harwich Port, MA 02646
Two-level property combines commercial space with an upper-floor apartment and on-site parking.
Property Size2,493 SF
Days on Market588
Property Features for 515 Route 28
General Information
Standard status
Pending
Size
2,493 SF
Property subtype
Mixed Use, Retail
Additional Details
Multifamily Units
1
Building Details
Year Built
1880
Units
1
Listing Agency:
Kinlin Grover Compass
(508) 274-0509
Listed By:
Nat Santoro · License #141467
Source:
Crexi
Added: Jan 19, 2025
Changed: Aug 30
Last Checked: Aug 30 at 6:12AM
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.
This mixed-use property contains 2,493 square feet across two levels, including nearly 1,600 square feet of commercial space and a nearly 900-square-foot apartment on the second floor. The residential component can serve as an owner’s living space or be used as a rental.
Located at 515 Route 28 in Harwich Port, Massachusetts, the property includes on-site parking and was built in 1880. Its combination of commercial and residential areas supports a range of personal-use or income-producing configurations.
Located at 515 Route 28 in Harwich Port, Massachusetts, the property includes on-site parking and was built in 1880. Its combination of commercial and residential areas supports a range of personal-use or income-producing configurations.
Key Highlights
- 2,493‑square‑foot mixed‑use property
- Nearly 1,600 square feet of commercial space
- Nearly 900‑square‑foot apartment on the second level
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
$51,201
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
3.31%
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%
$1,024,020
$1.0M
Cap Rate 7%
$731,443
$731.4K
Cap Rate 9%
$568,900
$568.9K
Market Conditions
NOI Build-Up for 2,493 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
$74.8K $30.00/SF
− Vacancy
−$1.6K −$0.66/SF
EGI
$73.1K $29.34/SF
− OpEx
−$21.9K −$8.80/SF
NOI
$51.2K $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 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%
$1,024,020
Cap Rate 7%
$731,443
Cap Rate 9%
$568,900
Alternative Uses
Best Use
Retail
$731.4K
$640.0K – $853.4K
NOI $51,201 @ 7.0% cap · market cap 3.31%
Second Best
Apartment 5plus
$713.6K
$624.4K – $832.6K
NOI $49,955 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$1.02M
$888.9K – $1.19M
NOI $71,114 @ 7.0% cap · market cap 4.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Cumberland Farms
Shops & Services
9,300 visits/mo
0.2 miles
TD Bank
Shops & Services
2,549 visits/mo
0.4 miles
Demographics for 02646, MA
1,926
Population
2,519
Households
0.8
Avg Household Size
63
Median Age
65%
College-Educated
100%
High-School Grad
2.9 sq mi
ZIP Area
664
Density / Sq Mi
$74,276
Median Household Income
$59,737
Median Earnings
$1,964
Median Rent
$723,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property combines commercial space with an upper-floor apartment and on-site parking.
Where is this mixed-use property located?
The property is located at 515 Route 28 Harwich Port, MA.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: 2,493‑square‑foot mixed‑use property; Nearly 1,600 square feet of commercial space; Nearly 900‑square‑foot apartment on the second level
