Medical Office Condominium with Exam
37 Edgerton Drive North Falmouth, MA 02556
37 Edgerton Drive, North Falmouth, MA, 02556
$599,900
For Sale
$599,900
COMMERCIAL - North Falmouth, MA
Property Size2,284 SF
Lot Size2.87 Acres
Price / SF$262.65
Days on Market48
Property Features for 37 Edgerton Drive
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Parking Lot
- Appliances
- Water Heater
- Standard status
- Active
- APN
- FALM 05 S:10 P:019B L:003U
- Size
- 2,284 SF
- Lot size
- 2.87 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3182
Utilities
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1970
- Floors in Building
- 1
- Number of units
- 1
- Flooring type
- Vinyl
- Building materials
- Vinyl Siding
- Roof type
- Asphalt, Aluminum
Listing agency
North Atlantic Realty Group
(508) 534-9768
Listed by
Dennis Kerkado
(508) 534-9768
Added: Jun 5 Updated: Jul 7 at 12:34AM Checked: Jul 22 at 3:06AM
MLS# 22602633
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 remodeled medical office condominium unit offers a practical clinical layout with a waiting room, reception area, two offices, and six exam rooms. The space also includes an ADA restroom, a break room with kitchenette, and a dedicated storage area. Improvements include a brand new HVAC system and A/C condenser. The condo interest includes 25% common interest in the complex, with HOA costs addressed as part of the lease structure.
The offering includes a lease in place with a national dermatology tenant. The HOA fee is paid by the tenant and covers master insurance, exterior maintenance, snow removal, parking lot, and landscaping. Onsite parking is included with the unit.
For a buyer, this configuration supports ongoing medical office operations with defined patient and exam spaces and an accessible restroom. For owner-occupants or investors evaluating a stabilized position, the space is already set up for medical use with recently installed HVAC equipment and a turnkey interior plan that includes reception, exam rooms, and support space like a kitchenette and storage.
The offering includes a lease in place with a national dermatology tenant. The HOA fee is paid by the tenant and covers master insurance, exterior maintenance, snow removal, parking lot, and landscaping. Onsite parking is included with the unit.
For a buyer, this configuration supports ongoing medical office operations with defined patient and exam spaces and an accessible restroom. For owner-occupants or investors evaluating a stabilized position, the space is already set up for medical use with recently installed HVAC equipment and a turnkey interior plan that includes reception, exam rooms, and support space like a kitchenette and storage.
Key Highlights
- 2,284 SF medical commercial condo unit with a lease in place (tenant: a national dermatology firm).
- Remodeled interior with waiting room, reception area, 2 offices, and 6 exam rooms.
- Includes an ADA restroom, break room with kitchenette, and on‑site storage area.
Local Financial Insights For Office B
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 | $80.0k | $35.04 |
| − Vacancy | −$16.0k | −$7.01 |
| EGI | $64.0k | $28.03 |
| − OpEx | −$16.0k | −$7.01 |
| NOI | $48.0k | $21.02 |
2,284 SF · lease $35.04/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$686.0K
$600.2K – $800.3K
NOI $48,019 @ 7.0% cap · market cap 8.00%
Second Best
Healthcare Medical
$461.3K
$403.6K – $538.2K
NOI $32,289 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$930.7K
$814.4K – $1.09M
NOI $65,152 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - Remodeled medical condo with HVAC, multiple exam rooms, and onsite parking, offered with a lease in place.
Where is this medical office space located?
The property is located at 37 Edgerton Drive North Falmouth, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 2,284 SF medical commercial condo unit with a lease in place (tenant: a national dermatology firm).; Remodeled interior with waiting room, reception area, 2 offices, and 6 exam rooms.; Includes an ADA restroom, break room with kitchenette, and on‑site storage area.
