Multi-Unit Retail
For Sale
$1,750,000
303 Orleans Rd, North Chatham, MA
Well-maintained multi-unit retail building with ample parking and three leased units, recently upgraded inside and out.
Property Size5,101 SF
Price / SF$343.07
Days on Market84
Property Features for 303 Orleans Rd
General Information
Standard status
Active
Size
5,101 SF
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$3,968
Building Details
Tenancy
Multi
Listing Agency:
William Raveis Real Estate & Home Services
(508) 945-7777
Listed By:
Ward H Brown, III
(508) 237-1112
Source:
Exprealty
Added: Jun 16
Changed: Sep 5
Last Checked: Sep 6 at 10:57AM
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 William Raveis Real Estate & Home Services
Investment Insights
Based on property information with market context.
This well-maintained retail income property consists of a single 5,101 sf building with three separate units, all currently on leases. The property is offered as real estate only. Recent upgrades include the roof, paved parking lot, signage, siding, and landscaping, supporting a strong exterior presentation.
The building is located on Rte 28 in North Chatham and benefits from ample parking and visibility for tenant and customer access. Please respect tenant and patron privacy during showings.
One tenant has a right of first refusal. The remaining units are also leased, providing an income-producing configuration within a multi-tenant retail setting.
The building is located on Rte 28 in North Chatham and benefits from ample parking and visibility for tenant and customer access. Please respect tenant and patron privacy during showings.
One tenant has a right of first refusal. The remaining units are also leased, providing an income-producing configuration within a multi-tenant retail setting.
Key Highlights
- Well‑maintained commercial income property on Rte 28 in North Chatham
- 5,101 SF building with plenty of parking and visibility
- Three units, all on leases (real estate only)
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
$104,764
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
5.99%
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%
$2,095,280
$2.1M
Cap Rate 7%
$1,496,629
$1.5M
Cap Rate 9%
$1,164,044
$1.2M
Market Conditions
NOI Build-Up for 5,101 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
$153.0K $30.00/SF
− Vacancy
−$3.4K −$0.66/SF
EGI
$149.7K $29.34/SF
− OpEx
−$44.9K −$8.80/SF
NOI
$104.8K $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%
$2,095,280
Cap Rate 7%
$1,496,629
Cap Rate 9%
$1,164,044
Alternative Uses
Best Use
Retail
$1.50M
$1.31M – $1.75M
NOI $104,764 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,508 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Well-maintained multi-unit retail building with ample parking and three leased units, recently upgraded inside and out.
Where is this shopping center located?
The property is located at 303 Orleans Rd North Chatham, MA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Well‑maintained commercial income property on Rte 28 in North Chatham; 5,101 SF building with plenty of parking and visibility; Three units, all on leases (real estate only)
