Remodeled Downtown
For Sale
$1,200,000
Pending
151-153 Main Street, Bourne, MA 02532
Three rental units were updated with new electrical, plumbing, heating, and hot water systems.
Property Size2,034 SF
Days on Market204
Property Features for 151-153 Main Street
General Information
Standard status
Pending
Size
2,034 SF
Total Parking Spaces
10
Property subtype
Multi-family / 3 Family
Zoning
Downtown
Net Operating Income
$66,000
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,930
Amenities
City/Town Sewer, Public, 220 Volts, for Electric Range
No
Tile, Vinyl, Carpet, Stone/Ceramic Tile
Range
3.0
Full, Partial
Storage, Stone/Granite/Solid Counters, Bathroom With Tub, Country Kitchen, Kitchen, Living RM/Dining RM Combo, Office/Den
3
3.00
Scenic View(s), Yes
Frame
Shingle
Flood Plain, Level
Porch, Patio
Bay, 1/10 to 3/10 To Beach
Building Details
Year Built
1900
Listing Agency:
Conway - Wareham
Listed By:
Ralph J. Grassia · License #120010
(508) 295-6560
Source:
Compass
Added: Mar 27
Changed: Oct 10
Last Checked: Oct 15 at 1:14AM
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 Conway - Wareham
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Investment Insights
Based on property information with market context.
This Downtown-zoned property at 151-153 Main Street includes three rental units and a fourth unit identified for future configuration. The units were remodeled to the studs in 2012 and 2013, with updated electrical, plumbing, wallboard, heating, and hot water systems. Most appliances will remain with the property. Interior features include kitchens, living and dining areas, storage, offices or dens, and bathrooms with tubs. Porches and a patio provide additional exterior space.
The property is in downtown Buzzards Bay within the town of Bourne, with views toward the railroad bridge and close proximity to the Cape Cod Canal. The surrounding area includes Massachusetts Maritime Academy, the National Marine Life Center, and visitor attractions. Scenic views, a level site, and Downtown zoning are also noted.
The property is in downtown Buzzards Bay within the town of Bourne, with views toward the railroad bridge and close proximity to the Cape Cod Canal. The surrounding area includes Massachusetts Maritime Academy, the National Marine Life Center, and visitor attractions. Scenic views, a level site, and Downtown zoning are also noted.
Key Highlights
- Three rental units plus a fourth unit identified for future configuration
- Remodeled to the studs in 2012 and 2013
- Updated electrical, plumbing, wallboard, heating, and hot water systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,341
Cap Rate
3.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$906,820
$906.8K
Cap Rate 7%
$647,729
$647.7K
Cap Rate 9%
$503,789
$503.8K
Market Conditions
NOI Build-Up for 2,034 SF
Gross rent
$67.1K $33.00/SF
− Vacancy
−$2.3K −$1.16/SF
EGI
$64.8K $31.85/SF
− OpEx
−$19.4K −$9.55/SF
NOI
$45.3K $22.29/SF
Area
Barnstable County, MA
Vacancy
3.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$906,820
Cap Rate 7%
$647,729
Cap Rate 9%
$503,789
Alternative Uses
Best Use
Multifamily LT 5
$647.7K
$566.8K – $755.7K
NOI $45,341 @ 7.0% cap · market cap 3.78%
Second Best
Apartment 5plus
$582.3K
$509.5K – $679.3K
NOI $40,758 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$828.9K
$725.3K – $967.0K
NOI $58,021 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
399
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 Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three rental units were updated with new electrical, plumbing, heating, and hot water systems.
Where is this triplex located?
The property is located at 151-153 Main Street Bourne, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Three rental units plus a fourth unit identified for future configuration; Remodeled to the studs in 2012 and 2013; Updated electrical, plumbing, wallboard, heating, and hot water systems
