Two-Story Office
2957 Falmouth Road/Rte 28 Road, Osterville, MA 02655
For Sale
$1,699,000
Commercial Sale, Osterville, MA
Property Size4,200 SF
Lot Size0.94 Acres
Price / SF$404.52
Days on Market60
Property Features for 2957 Falmouth Road/Rte 28 Road
General Information
Property type
Property subtype
Zoning description
Parking features
Interior features
Basement
Elementary school district
Middle school district
High school district
Directions
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Standard status
APN
Size
Lot size
Additional Details
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Taxes and HOA fees
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Tax Annual Amount
Utilities
Utilities
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Building Details
Year built
Floors in Building
Number of units
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Buildings
Listing Agency:
LPT Realty
(401) 757-0845
Listed By:
Tiffany McCarthy
(508) 514-0451
Added: Sep 16
Changed: Oct 31
Last Checked: Nov 14 at 4:06AM
MLS# 22604656
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.
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Investment Insights
Based on property information with market context.
This two-story office property contains 4,200 square feet and four separate office areas suited to individual rental. Each floor has two bathrooms. Interior finishes include laminate, hardwood, and carpet flooring; the building also has central air and forced-air natural gas heat.
The 0.94-acre property fronts Falmouth Road, also designated Route 28, in Osterville. Built in 1940, the building has off-street parking and a parking lot. Public water serves the property, with a cesspool for wastewater.
The 0.94-acre property fronts Falmouth Road, also designated Route 28, in Osterville. Built in 1940, the building has off-street parking and a parking lot. Public water serves the property, with a cesspool for wastewater.
Key Highlights
- 4,200‑square‑foot office building on 0.94 acres
- Four separate office spaces suitable for individual rental
- Two bathrooms on each floor, four total
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,301
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,766,020
$1.8M
Cap Rate 7%
$1,261,443
$1.3M
Cap Rate 9%
$981,122
$981.1K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$147.2K $35.04/SF
− Vacancy
−$29.4K −$7.01/SF
EGI
$117.7K $28.03/SF
− OpEx
−$29.4K −$7.01/SF
NOI
$88.3K $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 Rate 5%
$1,766,020
Cap Rate 7%
$1,261,443
Cap Rate 9%
$981,122
Alternative Uses
Best Use
Office B
$1.26M
$1.10M – $1.47M
NOI $88,301 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,807 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
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Business Placement
Demographics for 02655, MA
3,591
Population
3,014
Households
1.2
Avg Household Size
57
Median Age
58%
College-Educated
98%
High-School Grad
6.5 sq mi
ZIP Area
552
Density / Sq Mi
$100,927
Median Household Income
$52,368
Median Earnings
$1,781
Median Rent
$746,200
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Barnstable County, MA
Properties on Market for Office buildings in Barnstable County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Four distinct office areas and bathrooms on both levels support a multi-occupant layout.
Where is this office building located?
The property is located at 2957 Falmouth Road/Rte 28 Road Osterville, MA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: 4,200‑square‑foot office building on 0.94 acres; Four separate office spaces suitable for individual rental; Two bathrooms on each floor, four total
