Two-Story Office
For Sale
$1,999,999
31 Meetinghouse Road, South Chatham, MA 02659
Commercial Sale, South Chatham, MA
Property Size5,712 SF
Lot Size1.21 Acres
Price / SF$350.14
Days on Market188
Property Features for 31 Meetinghouse Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
R 60
Parking
25
Parking features
Parking Lot
Basement
Walk-Out Access, Full
Appliances
Water Heater
Lot features
Interior Lot, Gentle Sloping
Elementary school district
Monomoy
Middle school district
Monomoy
High school district
Monomoy
Directions
RT 28 to RT 137. First property on the left across from church
Subdivision
Chatham
Standard status
Active
APN
4E-11
Size
5,712 SF
Lot size
1.21 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4051
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1964
Floors in Building
2
Flooring type
Wood, Laminate
Building materials
Wood Frame, Clapboard, Shingle Siding
Roof type
Asphalt
Listing Agency:
William Raveis Real Estate & Home Services
(508) 945-7777
Listed By:
John B Burke
(508) 245-2322
Added: Mar 23
Changed: Sep 16
Last Checked: Sep 26 at 7:06PM
MLS# 22600906
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.
Investment Insights
Based on property information with market context.
This two-story office property includes a separate seven-unit storage building positioned behind the main structure. The office building contains 5712 square feet and was originally constructed in 1964, with a comprehensive rebuild and renovation completed in 2013. Wood-frame construction, clapboard and shingle siding, laminate and wood flooring, central air, and natural-gas heating are among the existing features.
The property occupies 1.21 acres at 31 Meetinghouse Road in South Chatham, with convenient access just off Rt 28. Public water and public sewer serve the site, which also includes a parking lot and an asphalt roof. Its location provides access to Chatham and Harwich Port while combining office space with separate storage improvements.
The property occupies 1.21 acres at 31 Meetinghouse Road in South Chatham, with convenient access just off Rt 28. Public water and public sewer serve the site, which also includes a parking lot and an asphalt roof. Its location provides access to Chatham and Harwich Port while combining office space with separate storage improvements.
Key Highlights
- 5712‑square‑foot office building on 1.21 acres
- Separate seven‑unit storage bay building
- Completely rebuilt and renovated in 2013
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
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Open Analytics
Current Use
Lease Details
Yes
Highway 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Includes a separate seven-unit storage building, parking lot, and public water and sewer service.
Where is this office building 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: 5712‑square‑foot office building on 1.21 acres; Separate seven‑unit storage bay building; Completely rebuilt and renovated in 2013
