Office Units with Central
For Sale
$875,000
Pending
1383 Massachusetts 28A, Bourne, MA 02532
COMMERCIAL - Bourne, MA
Property Size3,244 SF
Lot Size0.53 Acres
Days on Market49
Property Features for 1383 Massachusetts 28A
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B2-Commercial
Parking features
Off Street, Garage, Driveway
Appliances
Water Heater
Elementary school district
Bourne
Middle school district
Bourne
High school district
Bourne
Directions
Route 28 to Otis Rotary - take first right and left at signal light onto Rte 28A, follow south to #1383.
Subdivision
Bourne
Standard status
Pending
APN
54.0 56 0
Size
3,244 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5522
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Flooring type
Hardwood
Building materials
Shingle Siding
Roof type
Asphalt
Listing Agency:
Hartel Realty Corp.
(508) 540-0448
Listed By:
Greg P Hartel
(617) 256-3169
Added: Jul 9
Changed: Aug 4
Last Checked: Aug 26 at 4:06AM
MLS# 22603335
Copyright © 2026 Cape Cod & Islands Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained office building offers flexible space configurations for office or professional use, with the amenities to support day-to-day operations. Interior finishes include hardwood flooring, and the property is served by a water heater. Heating is forced air with natural gas, and central air provides cooling throughout the building. The roof is asphalt, and the exterior features shingle siding.
The property is located at 1383 Massachusetts 28A in Bourne, MA, within a setting surrounded by established businesses, coastal amenities, and residential neighborhoods. Water is provided via public water service. Parking is available with a driveway, off-street spaces, and a garage.
Built in 1940 on a 0.53-acre lot, the building includes a total property size of 3,244 square feet, providing a compact footprint for an owner-operator or business seeking a Cape Cod presence.
The property is located at 1383 Massachusetts 28A in Bourne, MA, within a setting surrounded by established businesses, coastal amenities, and residential neighborhoods. Water is provided via public water service. Parking is available with a driveway, off-street spaces, and a garage.
Built in 1940 on a 0.53-acre lot, the building includes a total property size of 3,244 square feet, providing a compact footprint for an owner-operator or business seeking a Cape Cod presence.
Key Highlights
- 0.53‑acre lot with 3,244 SF total building size
- Central air cooling plus forced‑air natural gas heat
- Hardwood flooring, shingle siding exterior, asphalt roof
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 02532, MA
13,411
Population
7,362
Households
1.8
Avg Household Size
49
Median Age
43%
College-Educated
96%
High-School Grad
13.8 sq mi
ZIP Area
972
Density / Sq Mi
$89,411
Median Household Income
$50,372
Median Earnings
$1,474
Median Rent
$477,200
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?
Office units - Well-maintained office building with central air, natural gas forced-air heat, and off-street parking on a 0.53-acre lot.
Where is this office units located?
The property is located at 1383 Massachusetts 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: 0.53‑acre lot with 3,244 SF total building size; Central air cooling plus forced‑air natural gas heat; Hardwood flooring, shingle siding exterior, asphalt roof
