Mixed-Use Building with
For Sale
$1,350,000
21 S Orleans Road, Orleans, MA 02653
Multi-Family, Orleans, MA
Property Size4,416 SF
Lot Size0.46 Acres
Price / SF$305.71
Days on Market147
Property Features for 21 S Orleans Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
LB
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 4, Bedroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 2
Parking features
Off Street
Patio and Porch features
Deck
Appliances
Water Heater
Lot features
Views, Gentle Sloping, Easements
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
Amenities
office area
break room area
Building Details
Year built
1840
Floors in Building
3
Number of units
3
Flooring type
Wood, Laminate, Carpet
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 21
Changed: Sep 12
Last Checked: Sep 14 at 9:06AM
MLS# 22601618
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 4,416-square-foot mixed-use building combines a street-level retail area with two upper-floor apartments. The residential units include one two-bedroom apartment and one one-bedroom apartment, each with water views. A walk-out lower level adds approximately 600 square feet of office or storage space, while the retail portion includes office and break-room areas. The property was built in 1840 and features shingle siding, an asphalt roof, laminate, wood, and carpet flooring, oil heat, and public water.
Located at 21 S Orleans Road in Orleans, the building fronts Route 28 and has a rear outlook toward Town Cove. The 0.46-acre parcel includes 15 off-street parking spaces and a deck. The offering includes the land and building only, excluding the business.
Located at 21 S Orleans Road in Orleans, the building fronts Route 28 and has a rear outlook toward Town Cove. The 0.46-acre parcel includes 15 off-street parking spaces and a deck. The offering includes the land and building only, excluding the business.
Key Highlights
- 4,416 SF mixed‑use building on a 0.46‑acre parcel
- Street‑level retail area with office and break‑room space
- Two upstairs apartments: one 2‑bedroom and one 1‑bedroom
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily 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?
Mixed-use property - Street-level retail, two apartments, and a walk-out lower level create a flexible multi-occupancy property.
Where is this mixed-use 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: 4,416 SF mixed‑use building on a 0.46‑acre parcel; Street‑level retail area with office and break‑room space; Two upstairs apartments: one 2‑bedroom and one 1‑bedroom
