Free-Standing Mixed-Use
For Sale
$595,000
346 Gifford Street, Falmouth, MA 02540
COMMERCIAL - Falmouth, MA
Property Size2,947 SF
Price / SF$201.90
Days on Market211
Property Features for 346 Gifford Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
BU
Parking features
Off Street
Basement
Walk-Out Access, Finished
Appliances
Water Heater
Elementary school district
Falmouth
Middle school district
Falmouth
High school district
Falmouth
Directions
Rte 28 to Palmer Ave to Jones Rd to Gifford St - Homeport Business Buildings
Subdivision
Falmouth
Standard status
Active
APN
FALM 38 S:03 P:346 L:001U-006U
Size
2,947 SF
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4495
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1974
Floors in Building
3
Flooring type
Carpet, Vinyl
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
Berkshire Hathaway HomeServices Robert Paul Properties
(508) 540-9800
Listed By:
O'Neill Group
(508) 524-7325
Added: Jan 12
Changed: Aug 4
Last Checked: Aug 11 at 6:06PM
MLS# 22600100
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 free-standing mixed-use commercial property is part of a well-established condominium association and is configured with six units across three levels, with two units per level. Approximately 2,947 square feet in total, the building supports a range of use possibilities, including residential, retail sales, and business or professional offices. Four of the six units are currently occupied, providing existing income potential.
Located in downtown Falmouth at 346 Gifford Street, the property is described as minutes from Falmouth Hospital. On-site utilities include private septic, town water, and natural gas.
Located in downtown Falmouth at 346 Gifford Street, the property is described as minutes from Falmouth Hospital. On-site utilities include private septic, town water, and natural gas.
Key Highlights
- Free‑standing mixed‑use commercial building in downtown Falmouth within a condominium association
- 6 units over 3 levels (2 units per level), with 4 of 6 units currently occupied
- Approximately 2,947 SF total building area
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
$41,111
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
6.91%
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%
$822,220
$822.2K
Cap Rate 7%
$587,300
$587.3K
Cap Rate 9%
$456,789
$456.8K
Market Conditions
NOI Build-Up for 2,947 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
$70.7K $24.00/SF
− Vacancy
−$5.0K −$1.68/SF
EGI
$65.8K $22.32/SF
− OpEx
−$24.7K −$8.37/SF
NOI
$41.1K $13.95/SF
Area
Barnstable County, MA
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$822,220
Cap Rate 7%
$587,300
Cap Rate 9%
$456,789
Alternative Uses
Best Use
Office B
$885.1K
$774.5K – $1.03M
NOI $61,958 @ 7.0% cap · market cap 10.41%
Second Best
Mixed Use
$587.3K
$513.9K – $685.2K
NOI $41,111 @ 7.0% cap · market cap 6.91%
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Explore this area
Business Placement
Demographics for 02540, MA
8,450
Population
6,200
Households
1.4
Avg Household Size
61
Median Age
59%
College-Educated
94%
High-School Grad
11.0 sq mi
ZIP Area
768
Density / Sq Mi
$88,266
Median Household Income
$52,243
Median Earnings
$1,328
Median Rent
$756,300
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?
Mixed-use property - Three-level mixed-use condo building with six units; four currently occupied; served by town water, natural gas, and private septic.
Where is this mixed-use property located?
The property is located at 346 Gifford Street 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: Free‑standing mixed‑use commercial building in downtown Falmouth within a condominium association; 6 units over 3 levels (2 units per level), with 4 of 6 units currently occupied; Approximately 2,947 SF total building area
