Downtown Hyannis Office
For Sale
$1,999,000
33 Bassett Ln, Barnstable, MA 02601
Recently renovated professional office building with central AC, gas heat, and shared space across multiple floors.
Property Size8,000 SF
Price / SF$249.88
Days on Market85
Property Features for 33 Bassett Ln
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Commercial
Zoning
HVB
Taxes and HOA fees
Annual Taxes
$11,715
Building Details
Building Size
8,000 SF
Year Built
1985
Listing Agency:
Commercial Realty Advisors, Inc.
(508) 862-9000
Listed By:
Kevin A. Pepe
Source:
Classifiedrealtygroup
Added: Jun 4
Changed: Aug 23
Last Checked: Aug 26 at 6:09AM
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 Commercial Realty Advisors, Inc.
Investment Insights
Based on property information with market context.
This professional office building offers shared office space configured at approximately 4,000 square feet per floor, along with a full storage basement. The property has been recently renovated and includes central air conditioning and gas heat to support year-round tenant comfort.
The building is positioned in downtown Hyannis, described as being just steps away from Main Street and North Street. It features ample onsite parking and is adjacent to a public parking lot, which can help with day-to-day access for tenants and visitors. The property is zoned HVB (Hyannis Village Business) by the Town of Barnstable.
Designed for business operations that benefit from flexible, shared office layouts, the building can serve tenants seeking a downtown presence within a professionally maintained facility. Individual units are also available for lease, and the overall configuration supports multiple occupants within the same building while keeping storage space on site for tenant needs.
The building is positioned in downtown Hyannis, described as being just steps away from Main Street and North Street. It features ample onsite parking and is adjacent to a public parking lot, which can help with day-to-day access for tenants and visitors. The property is zoned HVB (Hyannis Village Business) by the Town of Barnstable.
Designed for business operations that benefit from flexible, shared office layouts, the building can serve tenants seeking a downtown presence within a professionally maintained facility. Individual units are also available for lease, and the overall configuration supports multiple occupants within the same building while keeping storage space on site for tenant needs.
Key Highlights
- Approximately 8,000 SF professional office building built in 1985
- Shared office space of approximately 4,000 SF per floor with a full storage basement
- Recently renovated building with central AC and gas heat
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
$168,192
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
8.41%
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%
$3,363,840
$3.4M
Cap Rate 7%
$2,402,743
$2.4M
Cap Rate 9%
$1,868,800
$1.9M
Market Conditions
NOI Build-Up for 8,000 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
$280.3K $35.04/SF
− Vacancy
−$56.1K −$7.01/SF
EGI
$224.3K $28.03/SF
− OpEx
−$56.1K −$7.01/SF
NOI
$168.2K $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%
$3,363,840
Cap Rate 7%
$2,402,743
Cap Rate 9%
$1,868,800
Alternative Uses
Best Use
Office B
$2.40M
$2.10M – $2.80M
NOI $168,192 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.26M
$2.85M – $3.80M
NOI $228,204 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,212
Businesses Nearby
Explore this area
Business Placement
Demographics for 02601, MA
16,487
Population
9,077
Households
1.8
Avg Household Size
43
Median Age
28%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
1,874
Density / Sq Mi
$62,989
Median Household Income
$36,183
Median Earnings
$1,629
Median Rent
$408,800
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 building - Recently renovated professional office building with central AC, gas heat, and shared space across multiple floors.
Where is this office building located?
The property is located at 33 Bassett Ln Barnstable, MA.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Approximately 8,000 SF professional office building built in 1985; Shared office space of approximately 4,000 SF per floor with a full storage basement; Recently renovated building with central AC and gas heat
