Two-Story Office Building with
For Sale
$1,999,999
31 Meetinghouse Road, South Chatham, MA 02659
COMMERCIAL - South Chatham, MA
Property Size5,712 SF
Lot Size1.21 Acres
Price / SF$350.14
Days on Market143
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: Aug 4
Last Checked: Aug 12 at 12:06PM
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 building includes a separate seven-unit storage bay building located in the back. The property sits on 1.21 acres and was completely renovated and redone in 2013.
Conveniently positioned just off Rt 28, the offering is described as being close to everything in Chatham and Harwich Port. The combined office and storage configuration supports multiple revenue streams under a single ownership.
The storage component is specifically identified as seven units, while the primary structure is a two-story office building.
Conveniently positioned just off Rt 28, the offering is described as being close to everything in Chatham and Harwich Port. The combined office and storage configuration supports multiple revenue streams under a single ownership.
The storage component is specifically identified as seven units, while the primary structure is a two-story office building.
Key Highlights
- Two‑story office building built in 1964
- Separate seven‑unit storage bay building in back
- Set on 1.21 acres off Rt 28
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two-story office building plus separate seven-unit storage bay on 1.21 acres, completely renovated and redone in 2013.
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: Two‑story office building built in 1964; Separate seven‑unit storage bay building in back; Set on 1.21 acres off Rt 28
