Main Street Commercial
For Sale
$1,399,000
32 Main Street #UNIT B, Orleans, MA 02653
3,595 SF commercial condo on Main Street for sale.
Property Size3,595 SF
Price / SF$389.15
Days on Market208
Property Features for 32 Main Street #UNIT B
General Information
Standard status
Active
Size
3,595 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,737
Amenities
Central air
Central Air Cooling
Building Details
Year Built
1975
Listing Agency:
KINLIN GROVER COMPASS
(508) 240-0334
Listed By:
NAT S SANTORO · License #141467
Source:
Corcoran
Added: Feb 3
Changed: Aug 23
Last Checked: Aug 29 at 10:25AM
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 KINLIN GROVER COMPASS
Investment Insights
Based on property information with market context.
Located on Main Street, this commercial condominium offers 3,595 square feet of space. The property is currently configured as office space, featuring 8 enclosed offices, a bullpen area with space for 10 desks, and a large reception area fronting Main Street. Additional features include a conference room, two additional areas with space for 4 or more desks, two bathrooms, a kitchen, and a full basement. The property includes both Main Street frontage and a rear entrance. A large parking lot is shared with nearby restaurants, gift shops, clothing boutiques, art galleries, a hair salon, and a massage parlor. Tenants are currently in place.
Key Highlights
- Prime Main Street location with high visibility.
- Large 3,595 sq ft commercial condo.
- Currently configured as office space with 8 private offices, a bullpen, and conference room.
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
$75,581
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
5.40%
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%
$1,511,620
$1.5M
Cap Rate 7%
$1,079,729
$1.1M
Cap Rate 9%
$839,789
$839.8K
Market Conditions
NOI Build-Up for 3,595 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
$126.0K $35.04/SF
− Vacancy
−$25.2K −$7.01/SF
EGI
$100.8K $28.03/SF
− OpEx
−$25.2K −$7.01/SF
NOI
$75.6K $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%
$1,511,620
Cap Rate 7%
$1,079,729
Cap Rate 9%
$839,789
Alternative Uses
Best Use
Office B
$1.08M
$944.8K – $1.26M
NOI $75,581 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,549 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
820
Businesses Nearby
Explore this area
Business Placement
Demographics for 02653, MA
6,307
Population
5,685
Households
1.1
Avg Household Size
63
Median Age
59%
College-Educated
99%
High-School Grad
12.1 sq mi
ZIP Area
521
Density / Sq Mi
$98,798
Median Household Income
$45,853
Median Earnings
$1,181
Median Rent
$816,700
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?
Office units - 3,595 SF commercial condo on Main Street for sale.
Where is this office units located?
The property is located at 32 Main Street #UNIT B Orleans, MA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Prime Main Street location with high visibility.; Large 3,595 sq ft commercial condo.; Currently configured as office space with **8 private offices, a bullpen, and conference room.**
