Two-Bay Flex Space
For Sale
Contact for pricing
15 Jan Sebastian Dr Units 1D & 2D, Sandwich, MA 02563
Industrial-zoned space combines warehouse operations with updated office buildout and two drive-in bays.
Property Size2,217 SF
Price / SF$315.70
Days on Market11
Property Features for 15 Jan Sebastian Dr Units 1D & 2D
General Information
Standard status
Active
Size
2,217 SF
Total Parking Spaces
20
Property subtype
Industrial, Office
Zoning
Industrial
Lease Type
NNN
Additional Details
Asking Price
$699,900
Drive-In Doors
2
Office Units
2
Building Details
Year Built
1988
Stories
1
Units
2
Tenancy
Single
Listing Agency:
Commercial Realty Advisors, Inc.
Listed By:
Jeff Eklund
Source:
Crexi
Added: Aug 10
Changed: Aug 15
Last Checked: Aug 20 at 6:01AM
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 industrial condominium combines two side-by-side units totaling approximately 2,217 SF. The layout includes warehouse space, two drive-in bays, and updated office buildout, creating a clear separation between administrative areas and operational functions while maintaining internal flow. The property was built in 1988 and is configured for businesses requiring office and warehouse space within the same facility.
Located at 15 Jan Sebastian Drive in Sandwich Industrial Park, the property is positioned on the Upper Cape with access to the Sagamore Bridge. Its setting provides a dedicated industrial park environment for contractor, service, and light industrial operations. The combined-unit format offers a practical footprint for users needing office space, equipment storage, and vehicle access in one property.
Located at 15 Jan Sebastian Drive in Sandwich Industrial Park, the property is positioned on the Upper Cape with access to the Sagamore Bridge. Its setting provides a dedicated industrial park environment for contractor, service, and light industrial operations. The combined-unit format offers a practical footprint for users needing office space, equipment storage, and vehicle access in one property.
Key Highlights
- ±2,217 SF industrial condominium
- Two side‑by‑side units: 1D and 2D
- Two drive‑in bays
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
$46,610
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
6.66%
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%
$932,200
$932.2K
Cap Rate 7%
$665,857
$665.9K
Cap Rate 9%
$517,889
$517.9K
Market Conditions
NOI Build-Up for 2,217 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
$77.7K $35.04/SF
− Vacancy
−$15.5K −$7.01/SF
EGI
$62.1K $28.03/SF
− OpEx
−$15.5K −$7.01/SF
NOI
$46.6K $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%
$932,200
Cap Rate 7%
$665,857
Cap Rate 9%
$517,889
Alternative Uses
Best Use
Office B
$665.9K
$582.6K – $776.8K
NOI $46,610 @ 7.0% cap · market cap 6.66%
Second Best
Warehouse
$555.3K
$485.9K – $647.9K
NOI $38,872 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$903.4K
$790.5K – $1.05M
NOI $63,241 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
2
Office units
Location Intelligence
Trade Area within ½ mile
369
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 02563, MA
10,070
Population
4,898
Households
2.1
Avg Household Size
52
Median Age
52%
College-Educated
99%
High-School Grad
13.2 sq mi
ZIP Area
763
Density / Sq Mi
$117,558
Median Household Income
$49,726
Median Earnings
$1,764
Median Rent
$552,900
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?
Flex space - Industrial-zoned space combines warehouse operations with updated office buildout and two drive-in bays.
Where is this flex space located?
The property is located at 15 Jan Sebastian Dr Units 1D & 2D Sandwich, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: ±2,217 SF industrial condominium; Two side‑by‑side units: 1D and 2D; Two drive‑in bays
