Storefront Building with
For Sale
$1,350,000
21 S Orleans Road, Orleans, MA 02653
COMMERCIAL - Orleans, MA
Property Size4,416 SF
Lot Size0.46 Acres
Price / SF$305.71
Days on Market129
Property Features for 21 S Orleans Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
LB
Parking features
Parking Lot
Basement
Partial
Appliances
Water Heater
Lot features
Views, Gentle Sloping, Easements, Roadway
View
Ocean
Elementary school district
Nauset
Middle school district
Nauset
High school district
Nauset
Directions
Yak Arts Building on Route 28 near Ace Hardware
Subdivision
Orleans
Standard status
Active
APN
ORLE M:026.0 B:0067 L:0000.0
Size
4,416 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7994
Utilities
Heating system
Oil
Water source
Public
Building Details
Year built
1840
Floors in Building
3
Flooring type
Wood, Carpet, Laminate
Building materials
Shingle Siding
Roof type
Asphalt
Listing Agency:
Kinlin Grover Compass
(508) 255-3001
Listed By:
Tracey E Oringer
(508) 292-9775
Added: Apr 16
Changed: Aug 4
Last Checked: Aug 22 at 2:06PM
MLS# 22601510
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 storefront building offers a multi-use layout with retail space at street level and two upstairs apartments. The retail is entered at street level and includes office and break room areas, while the apartments are configured as one 2-bedroom unit and one 1-bedroom unit, with water views. A walk-out lower level provides about 600 additional square feet of space for office or storage use.
The property sits on a 0.46-acre lot and is a landmark-style structure built in 1840. The retail portion faces Route 28 at the front, with Town Cove at the rear, supporting visibility from the road and a distinct outlook. On-site parking is available in a parking lot with 15 spaces.
The building is served by public water. Heating is oil-based, and the exterior features shingle siding with an asphalt roof. Available appliances include a water heater.
The property sits on a 0.46-acre lot and is a landmark-style structure built in 1840. The retail portion faces Route 28 at the front, with Town Cove at the rear, supporting visibility from the road and a distinct outlook. On-site parking is available in a parking lot with 15 spaces.
The building is served by public water. Heating is oil-based, and the exterior features shingle siding with an asphalt roof. Available appliances include a water heater.
Key Highlights
- Street‑level retail with office and break room areas
- Two upstairs apartments: one 2‑bedroom and one 1‑bedroom
- Walk‑out lower level with about 600 additional SF for office or 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
$90,696
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
6.72%
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%
$1,813,920
$1.8M
Cap Rate 7%
$1,295,657
$1.3M
Cap Rate 9%
$1,007,733
$1.0M
Market Conditions
NOI Build-Up for 4,416 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
$132.5K $30.00/SF
− Vacancy
−$2.9K −$0.66/SF
EGI
$129.6K $29.34/SF
− OpEx
−$38.9K −$8.80/SF
NOI
$90.7K $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%
$1,813,920
Cap Rate 7%
$1,295,657
Cap Rate 9%
$1,007,733
Alternative Uses
Best Use
Retail
$1.30M
$1.13M – $1.51M
NOI $90,696 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$1.26M
$1.11M – $1.47M
NOI $88,489 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,968 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
95k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 29%
Apparel 28%
Groceries 28%
Home Improvements & Furnishings 9%
T.J. Maxx
Apparel
26,075 visits/mo
0.4 miles
Stop & Shop
Groceries
26,053 visits/mo
0.5 miles
Mobil
Shops & Services
8,496 visits/mo
0.3 miles
Baskin's Ace Hardware
Home Improvements & Furnishings
6,922 visits/mo
0.2 miles
Cumberland Farms
Shops & Services
6,253 visits/mo
0.4 miles
Demographics for 02653, MA
6,307
Population
5,685
Households
1.1
Avg Household Size
63
Median Age
59%
College-Educated
99%
High-School Grad
12.1 sq mi
ZIP Area
521
Density / Sq Mi
$98,798
Median Household Income
$45,853
Median Earnings
$1,181
Median Rent
$816,700
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?
Storefront property - Street-level retail and two upstairs apartments provide a multi-use setup in-town on public utilities.
Where is this storefront property located?
The property is located at 21 S Orleans Road Orleans, MA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Street‑level retail with office and break room areas; Two upstairs apartments: one 2‑bedroom and one 1‑bedroom; Walk‑out lower level with about 600 additional SF for office or storage
