Listing Agency: Premier Commercial j***@premiercommercial.biz Show Phone

Listed By: John E. Ciluzzi · License #8990 Show Phone

Source: Exprealty

Added: Jul 15, 2024 Changed: Jul 10 Last Checked: Aug 11 at 9:57AM

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Investment Insights

Based on property information with market context.

This offering includes a two-bay industrial property improved by a 1,536-square-foot building on a 33,939-square-foot lot. The site is described as located within Commerce Park, and the property is noted as not being within a flood zone of concern. The property is also described as easy to show.

The location is stated to be in close proximity to Exit 11 and US Route 6, with access to points of interest in Chatham, Brewster, and Harwich. The remarks also state that the property abuts 200 Meeting House Road, which is separately available and must be sold together with 306 Commerce Park N.

The bundled sale includes the abutting property at 200 Meeting House Road, described as a 1,965-square-foot building on a 24,356-square-foot lot. The remarks indicate mixed-use allowances with retail, office, and residential use allowed, and request that the buyer verify use. For an industrial buyer or operator, the current site offers a dedicated two-bay building within Commerce Park, while the package structure may appeal to buyers looking to acquire two contiguous properties through a single transaction. Interested parties should confirm all intended uses prior to closing.

Key Highlights

• 33,939 SF improved lot with one 1,536 SF building
• Two‑bay industrial property located within Commerce Park in Chatham
• Offered as a bundled sale with the abutting 200 Meeting House Road property

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

$26,932

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

6.00%

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%

$538,640 $538.6K

Cap Rate 7%

$384,743 $384.7K

Cap Rate 9%

$299,244 $299.2K

Market Conditions

NOI Build-Up for 1,536 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

$33.2K $21.60/SF

− Vacancy

−$1.5K −$0.97/SF

EGI

$31.7K $20.63/SF

− OpEx

−$4.8K −$3.09/SF

NOI

$26.9K $17.53/SF

Area

Barnstable County, MA

Vacancy

4.50%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

15.00%

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%

$538,640

Cap Rate 7%

$384,743

Cap Rate 9%

$299,244

Alternative Uses

Best Use

Warehouse

$384.7K

$336.7K – $448.9K (±1% cap)

NOI $26,932 @ 7.0% cap · market cap 6.00%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$625.9K

$547.7K – $730.3K (±1% cap)

NOI $43,815 @ 7.0% cap · market cap 9.76%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Warehouses

Suggested Use

Top Pick Building Supply Real Estate Agency Parking Lot & Garage Auto Repair Shop Storage Facility Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Service bays

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

139

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 02633, MA

4,664

Population

5,425

Households

0.9

Avg Household Size

62

Median Age

65%

College-Educated

99%

High-School Grad

8.6 sq mi

ZIP Area

542

Density / Sq Mi

$94,036

Median Household Income

$50,038

Median Earnings

$1,005

Median Rent

$881,400

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties ... What are key features of this property?

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Similar Off Market Nearby

• Chatham Self Storage — 218 Meetinghouse Rd, South Chatham, MA 02659

Frequently Asked Questions

What type of property is this?

Warehouse - Two-bay industrial building on an improved lot, offered as a bundled sale with an abutting property.

Where is this warehouse located?

The property is located at 306 Commerce Park N South Chatham, MA.

What is the asking price?

The asking price for this property is $449,000.

What are key features of this property?

This property features: 33,939 SF improved lot with one 1,536 SF building; Two‑bay industrial property located within Commerce Park in Chatham; Offered as a bundled sale with the abutting 200 Meeting House Road property