Medical Office Condo with Exam
37 Edgerton Drive STE 3, North Falmouth, MA 02556
Fully remodeled medical condo leased to a national dermatology tenant with extensive exam-room buildout and covered HOA services.
Type:Multifamily
Property size:
2,284 SFLot size:
2.87 AcresPrice / SF:
$262/SF- Added:
- Jun 5, 2026
- Days on Market:
- 23
- Last Refresh:
- Jun 20 at 4:21 am
Property Features for 37 Edgerton Drive STE 3
General Information
- Standard status
- Active
- Size
- 2,284 SF
- Lot size
- 2.87 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1970
Listing office North Atlantic Realty Group
Listing date Jun 5, 2026
Source Crexi
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 North Atlantic Realty Group
HighLights
- Fully remodeled 2,284 SF medical condo with a waiting room, reception, 2 offices, 6 exam rooms, and an ADA restroom
- Leased to a national dermatology firm; investment offered at +/- 8.5% cap rate with tenant in place
- Brand new HVAC system and A/C condenser
- Condo includes break room with kitchenette, storage area, and on‑site parking
- HOA fee paid by tenant and covers master insurance, exterior maintenance, snow removal, parking lot, and landscaping
- Condo ownership includes 25% common interest in the condo complex on 2.87 acres (Year built: 1970)
Overview
This offering is a medical office condo unit configured for dermatology or similar clinical uses. The approximately 2,284 SF space includes a waiting room, reception area, two offices, six exam rooms, an ADA restroom, and a break room with kitchenette, along with a storage area. The interior has been fully remodeled/renovated and includes a brand new HVAC system and A/C condenser.
The unit carries a 25% common interest in the condo complex. HOA fees are paid by the tenant and include master insurance, exterior maintenance, snow removal, parking lot, and landscape. The property also includes onsite parking and is situated over 2.87 acres. The unit is located at 37 Edgerton Drive STE 3, North Falmouth, MA 02556.
For buyers, the space is presented as an investment opportunity with a lease in place. The tenant is described as a national dermatology firm, which can appeal to an operator seeking a ready-to-occupy medical setup. Owner occupancy is also referenced in the offering, supported by the turnkey clinical layout and updated mechanical systems.
The unit carries a 25% common interest in the condo complex. HOA fees are paid by the tenant and include master insurance, exterior maintenance, snow removal, parking lot, and landscape. The property also includes onsite parking and is situated over 2.87 acres. The unit is located at 37 Edgerton Drive STE 3, North Falmouth, MA 02556.
For buyers, the space is presented as an investment opportunity with a lease in place. The tenant is described as a national dermatology firm, which can appeal to an operator seeking a ready-to-occupy medical setup. Owner occupancy is also referenced in the offering, supported by the turnkey clinical layout and updated mechanical systems.
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.
Location Intelligence
Current Use by Public Records
Medical Office Space
Location Insight
- Map
- Local Demand
- City
- North Falmouth
- County
- Barnstable
- State
- Massachusetts
- Longitude
- -70.6118678
- Latitude
- 41.6405641
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Fully remodeled medical condo leased to a national dermatology tenant with extensive exam-room buildout and covered HOA services.
Where is this medical office space located?
The property is located at 37 Edgerton Drive STE 3 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: Fully remodeled 2,284 SF medical condo with a waiting room, reception, 2 offices, 6 exam rooms, and an ADA restroom; Leased to a national dermatology firm; investment offered at +/- 8.5% cap rate with tenant in place; Brand new HVAC system and A/C condenser
