Office Units with Reception
For Sale
$1,399,000
32 Main Street, Orleans, MA 02653
COMMERCIAL - Orleans, MA
Property Size3,595 SF
Price / SF$389.15
Days on Market204
Property Features for 32 Main Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
VC
Basement
Full
Elementary school district
Nauset
Middle school district
Nauset
High school district
Nauset
Directions
From Rt 6 take old exit 12, follow 6A until intersection of Main Street and 6A, take left turn, 32 Main St on right side.
Subdivision
Orleans
Standard status
Active
APN
ORLE M:025.0 B:0072 L:000B.0
Size
3,595 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4737
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1975
Floors in Building
1
Flooring type
Carpet
Building materials
Brick
Roof type
Flat
Listing Agency:
Kinlin Grover Compass
(508) 240-0334
Listed By:
Nat S Santoro · License #141467
(508) 274-0509
Added: Feb 2
Changed: Aug 4
Last Checked: Aug 25 at 2:06AM
MLS# 22600312
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 3,595-square-foot commercial condominium is configured for office use and includes eight enclosed offices, a 10-desk bullpen, a front reception area, a conference room, and two additional work areas with capacity for 4+ desks. The interior also provides two bathrooms, a kitchen, and a full basement. Carpeted floors, central air, natural gas heat, brick construction, and a flat roof are included among the building features.
The property fronts Main Street and has a rear entrance. Shared parking is available in a larger lot serving a surrounding mix of restaurants, gift shops, clothing boutiques, art galleries, a hair salon, and a massage parlor. Tenants are currently in place. Public water and public sewer serve the condominium.
The property fronts Main Street and has a rear entrance. Shared parking is available in a larger lot serving a surrounding mix of restaurants, gift shops, clothing boutiques, art galleries, a hair salon, and a massage parlor. Tenants are currently in place. Public water and public sewer serve the condominium.
Key Highlights
- 3,595‑square‑foot commercial condominium
- Eight enclosed office rooms plus a 10‑desk bullpen
- Main Street frontage with a rear entrance
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
Retail
$1.05M
$922.9K – $1.23M
NOI $73,834 @ 7.0% cap · market cap 5.28%
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
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
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 - Tenant-occupied commercial condominium with a flexible office layout, public utilities, and access to shared parking.
Where is this office units located?
The property is located at 32 Main Street 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: 3,595‑square‑foot commercial condominium; Eight enclosed office rooms plus a 10‑desk bullpen; Main Street frontage with a rear entrance
