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    Turnkey Fully Leased Office Building Title is generated by Realmo AI

    243 South St Barnstable, Hyannis, MA 02601

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    For Sale
    $775,000

    Fully occupied professional office building on a 0.53-acre parcel with established long-term radio station tenant.

    Property size:
    2,766 SF
    Lot size:
    0.53 Acres
    Price / SF:
    $280/SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 2:27 am

    Property Features for 243 South St Barnstable

    General Information

    Standard status
    Active
    Size
    2,766 SF
    Lot size
    0.53 Acres

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    Michele Costa

    Listing agent Michele Costa

    Listing office

    Listing date Jun 3, 2026

    Source Milestonerealtyinc

    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 Michele Costa

    HighLights

    • Fully occupied professional office building with a 7.5% capitalization rate
    • 2,766 SF office building on a 0.53‑acre parcel in Hyannis’ Downtown (DN) zoning district
    • Originally built in 1910 and effectively updated in 1984
    • Established long‑term tenant: well‑known FM radio station with specialized IT infrastructure
    • Tenant occupancy supports stable income and operational continuity

    Overview

    This fully occupied professional office building is a turnkey investment opportunity built originally in 1910 and effectively updated in 1984. The property includes approximately 2,766 square feet and is anchored by a popular FM radio station, with extensive IT infrastructure already in place. The building is situated on a 0.53-acre parcel and operates as a professional office environment designed to support the tenant’s specialized needs.

    The property is located at 243 South St in Hyannis within the Downtown (DN) zoning district. It is described as being positioned close to business, healthcare, and municipal hubs, supporting convenient access for office operations and tenant staffing.

    For investors or owner-operators seeking a low-management structure, the current tenant’s long-standing presence and fully leased status provide an income-producing profile. The building also presents an asset mix of historic character and modernized functionality, which can appeal to buyers looking for an office property with infrastructure already aligned to a communications-focused occupant.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $96.9k $35.04
    − Vacancy −$19.4k −$7.01
    EGI $77.5k $28.03
    − OpEx −$19.4k −$7.01
    NOI $58.2k $21.02
    2,766 SF · lease $35.04/SF/yr · vacancy 20.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $830.7K
    $726.9K – $969.2K (±1% cap)
    NOI $58,152 @ 7.0% cap · market cap 7.50%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.13M
    $986.3K – $1.32M (±1% cap)
    NOI $78,901 @ 7.0% cap · market cap 10.18%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hyannis
    County
    Barnstable
    State
    Massachusetts
    Longitude
    -70.2924
    Latitude
    41.6607

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    FAQs

    What type of property is this?
    Office building - Fully occupied professional office building on a 0.53-acre parcel with established long-term radio station tenant.
    Where is this office building located?
    The property is located at 243 South St Barnstable Hyannis, MA.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: Fully occupied professional office building with a 7.5% capitalization rate; 2,766 SF office building on a 0.53‑acre parcel in Hyannis’ Downtown (DN) zoning district; Originally built in 1910 and effectively updated in 1984
    (508) 501-1443
    We can help!
    Listing Contact
    Michele Costa
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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