Building Details

Year Built 1989

Listing Agency: Kinlin Grover Compass

Listed By: Meghan Taylor Show Phone

Source: Capecodtoday

Added: Aug 11 Changed: Sep 1 Last Checked: Sep 2 at 1:12PM

Report an Issue

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.

Unit B3 is a condominium with 2,112 square feet of living space arranged across three levels. The main floor connects the kitchen, dining area, and living room in an open layout with a side bar and two pairs of glass doors leading to a substantial wood deck. The upper level contains two bedrooms and two updated full bathrooms, while the walk-out lower level adds a finished multipurpose room, home office, and storage.

The residence is part of Cranberry Pointe Condominiums, a maintained community next to a cranberry bog. Its setting includes views toward the bog and private backyard, while restaurants and shops are nearby. Colonial Acres Beach on Lewis Bay is located less than a mile away. The property was built in 1989 and carries residential zoning.

Key Highlights

• 2,112 square feet with a three‑level condominium layout
• Two bedrooms and two and a half bathrooms
• Finished walk‑out lower level with office and storage

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

$42,321

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

7.31%

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%

$846,420 $846.4K

Cap Rate 7%

$604,586 $604.6K

Cap Rate 9%

$470,233 $470.2K

Market Conditions

NOI Build-Up for 2,112 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

$79.3K $37.56/SF

− Vacancy

−$2.4K −$1.13/SF

EGI

$76.9K $36.43/SF

− OpEx

−$34.6K −$16.39/SF

NOI

$42.3K $20.04/SF

Area

Barnstable County, MA

Vacancy

3.00%

Lease Rate

$37.56 /SF/Yr

Expense Ratio

45.00%

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%

$846,420

Cap Rate 7%

$604,586

Cap Rate 9%

$470,233

Alternative Uses

Best Use

Apartment 5plus

$604.6K

$529.0K – $705.4K (±1% cap)

NOI $42,321 @ 7.0% cap · market cap 7.31%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$860.7K

$753.1K – $1.00M (±1% cap)

NOI $60,246 @ 7.0% cap · market cap 10.41%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Residential income properties

Suggested Use

Top Pick Hair Salon Spa & Massage Center Real Estate Agency Nail Salon Big Box & Wholesale Store Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

274

Businesses Nearby

Explore this area Business Placement

Demographics for 02673, MA

8,892

Population

6,596

Households

1.3

Avg Household Size

50

Median Age

34%

College-Educated

93%

High-School Grad

9.3 sq mi

ZIP Area

956

Density / Sq Mi

$73,846

Median Household Income

$42,439

Median Earnings

$1,502

Median Rent

$445,100

Median Home Value

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this residential income properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Residential income property - Condominium offers flexible three-level living with a deck, finished lower level, office, and storage.

Where is this residential income property located?

The property is located at 15 Denver Drive APT B3 West Yarmouth West Yarmouth, MA.

What is the asking price?

The asking price for this property is $579,000.

What are key features of this property?

This property features: 2,112 square feet with a three‑level condominium layout; Two bedrooms and two and a half bathrooms; Finished walk‑out lower level with office and storage