Three-Level Mixed-Use
346 Gifford Street #1-6 Falmouth, MA 02540
346 Gifford Street #1-6, Falmouth, MA, 02540
$595,000
For Sale
$595,000
Free-standing downtown Falmouth mixed-use building with six condo units and existing occupancy in half the units.
Property Size2,947 SF
Price / SF$201.90
Days on Market186
Property Features for 346 Gifford Street #1-6
General Information
- Standard status
- Active
- Size
- 2,947 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1974
Listing Agency
Berkshire Hathaway HomeServices Robert Paul Properties
(508) 540-9800
Listed by
O'Neill Group
Source
Corcoran
Added: Jan 12 Checked: Jul 17 at 3:34 am
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 Berkshire Hathaway HomeServices Robert Paul Properties
Investment Insights
Based on property information with market context.
This free-standing mixed-use property is arranged as six condo units across three levels, with two units per level. Four of the six units are currently occupied, creating existing cash flow for an investor or rental component for an owner-user. The building is approximately 2,947 square feet and is described as allowing a variety of uses, including residential, retail sales, and business or professional offices. Utilities serving the property include private septic, Town water, and natural gas.
Situated in the heart of downtown Falmouth, the property is just minutes from Falmouth Hospital. It is part of a well-established condominium association, which should be considered by buyers evaluating operating and ownership structure.
With a unitized configuration and flexibility for residential, retail, or professional office uses, this building can suit multiple tenant or owner-occupant scenarios. Buyers seeking an investment can take into account that four units are currently occupied, while owner-users may value the ability to allocate space based on business and operational needs. The provided utility setup supports everyday use across the allowable categories of occupancy.
Situated in the heart of downtown Falmouth, the property is just minutes from Falmouth Hospital. It is part of a well-established condominium association, which should be considered by buyers evaluating operating and ownership structure.
With a unitized configuration and flexibility for residential, retail, or professional office uses, this building can suit multiple tenant or owner-occupant scenarios. Buyers seeking an investment can take into account that four units are currently occupied, while owner-users may value the ability to allocate space based on business and operational needs. The provided utility setup supports everyday use across the allowable categories of occupancy.
Key Highlights
- Mixed‑use, free‑standing downtown Falmouth building built in 1974 with 6 condo units
- 3 levels with two units per level; four of the six units are currently occupied
- Building totals approximately 2,947 SF and supports residential, retail sales, and business/professional office uses
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.7k | $24.00 |
| − Vacancy | −$5.0k | −$1.68 |
| EGI | $65.8k | $22.32 |
| − OpEx | −$24.7k | −$8.37 |
| NOI | $41.1k | $13.95 |
2,947 SF · lease $24.00/SF/yr · vacancy 7.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$885.1K
$774.5K – $1.03M
NOI $61,958 @ 7.0% cap · market cap 10.41%
Second Best
Apartment 5plus
$843.6K
$738.2K – $984.2K
NOI $59,053 @ 7.0% cap · market cap 9.92%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,064 @ 7.0% cap · market cap 14.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Free-standing downtown Falmouth mixed-use building with six condo units and existing occupancy in half the units.
Where is this apartment building located?
The property is located at 346 Gifford Street #1-6 Falmouth, MA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Mixed‑use, free‑standing downtown Falmouth building built in 1974 with 6 condo units; 3 levels with two units per level; four of the six units are currently occupied; Building totals approximately 2,947 SF and supports residential, retail sales, and business/professional office uses
