Mixed-Use Property with Storage
For Sale
$1,999,999
31 Meetinghouse Road, South Chatham, MA 02659
Two-story office space is complemented by a separate storage building on the property.
Property Size5,712 SF
Lot Size1.21 Acres
Price / SF$350.14
Days on Market153
Property Features for 31 Meetinghouse Road
General Information
Standard status
Active
Size
5,712 SF
Lot size
1.21 Acres
Property subtype
Mixed Use
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,051
Building Details
Building Size
5,712 SF
Year Built
1964
Year Renovated
2013
Buildings
2
Stories
2
Listing Agency:
William Raveis Real Estate & Home Services
(508) 245-2322
Listed By:
John B Burke
(508) 245-2322
Source:
Paulgrover
Added: Mar 23
Changed: Aug 21
Last Checked: Aug 21 at 7:05AM
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 mixed-use property combines a two-story office building with a detached storage structure containing seven bays. The property encompasses 5,712 square feet on 1.21 acres, providing both office and storage components within one commercial holding. The improvements were substantially rebuilt and renovated in 2013, while the original building dates to 1964.
The property is located at 31 Meetinghouse Road in South Chatham, Massachusetts, just off Rt 28 and near Chatham and Harwich Port. Its office-and-storage configuration creates a versatile commercial layout with distinct building components on the same site.
The property is located at 31 Meetinghouse Road in South Chatham, Massachusetts, just off Rt 28 and near Chatham and Harwich Port. Its office-and-storage configuration creates a versatile commercial layout with distinct building components on the same site.
Key Highlights
- Two‑story office building with separate storage structure
- Seven‑unit storage bay building included
- 5,712 square feet of property improvements
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
$120,089
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%
$2,401,780
$2.4M
Cap Rate 7%
$1,715,557
$1.7M
Cap Rate 9%
$1,334,322
$1.3M
Market Conditions
NOI Build-Up for 5,712 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
$200.1K $35.04/SF
− Vacancy
−$40.0K −$7.01/SF
EGI
$160.1K $28.03/SF
− OpEx
−$40.0K −$7.01/SF
NOI
$120.1K $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 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%
$2,401,780
Cap Rate 7%
$1,715,557
Cap Rate 9%
$1,334,322
Alternative Uses
Best Use
Office B
$1.72M
$1.50M – $2.00M
NOI $120,089 @ 7.0% cap · market cap 6.00%
Second Best
Warehouse
$1.43M
$1.25M – $1.67M
NOI $100,153 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $162,937 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 02659, MA
1,100
Population
1,187
Households
0.9
Avg Household Size
60
Median Age
62%
College-Educated
98%
High-School Grad
2.0 sq mi
ZIP Area
550
Density / Sq Mi
$87,368
Median Household Income
$62,578
Median Earnings
$1,232
Median Rent
$650,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story office space is complemented by a separate storage building on the property.
Where is this mixed-use property located?
The property is located at 31 Meetinghouse Road South Chatham, MA.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: Two‑story office building with separate storage structure; Seven‑unit storage bay building included; 5,712 square feet of property improvements
