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    Versatile Commercial Condo in Tisbury Title is generated by Realmo AI

    455 State Rd # 8 Tisbury, Vineyard Haven, MA 02568

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    For Sale
    $1,500,000

    2,614 sq ft commercial condo in high-traffic location.

    Property size:
    2,614 SF
    Price / SF:
    $573/SF
    Added:
    May 16, 2026
    Days on Market:
    14
    Last Refresh:
    May 16 at 2:20 am

    Property Features for 455 State Rd # 8 Tisbury

    General Information

    Standard status
    Active
    Size
    2,614 SF

    Building Details

    Year Built
    1972

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    Listing Contact
    Stephen Rose

    Listing agent Stephen Rose

    Listing office

    Listing date May 16, 2026

    Source Milestonerealtyinc

    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 Stephen Rose

    HighLights

    • Prime commercial location in Vineyard Haven's Woodland Center Marketplace.
    • Large 2,614± sq. ft. corner commercial condominium with high visibility.
    • Flexible layout adaptable for retail, design, or professional use.
    • Ample parking and professional management.
    • High‑traffic location in a thriving commercial hub.
    • Existing showroom, office area, workroom/warehouse, kitchenette, and half bath.

    Overview

    Located in Vineyard Haven, Martha's Vineyard, this commercial condominium offers a prime opportunity in a vibrant, year-round community. Situated in the Woodland Center Marketplace, Unit 8 is a corner unit comprising 2,614± sq. ft. and is one of the largest in a well-managed association. The property features a showroom with an office area, a workroom/warehouse storage section, a kitchenette, and a half bath. Currently configured for a tile and flooring business, the flexible layout can be adapted for retail, design, or professional use. The property benefits from high visibility, ample parking, and professional management. The successful Karpet Kare tile and flooring business is also available separately.
    Location Intelligence

    Current Use by Public Records

    Showrooms

    Similar Places Nearby

    • Martha's Vineyard Tile Company Inc. — 123 Beach Rd, Vineyard Haven, MA 02568
    • A1 Martha's Vineyard Hardwood — 21 Evelyn Way, Vineyard Haven, MA 02568
    • Mac Donald's Rugs & Carpets — 155 State Rd, Vineyard Haven, MA 02568
    • Plum Perfect Painting — 169 Spring St, Vineyard Haven, MA 02568

    Map

    City
    Vineyard Haven
    County
    Dukes
    State
    Massachusetts
    Longitude
    -70.5999
    Latitude
    41.4442

    Nearby Similar for Sale

    • $2,700,000
      12,697 SF

      Vineyard Haven Commercial Property

      High-visibility commercial property with renovated showroom and ample parking.
      322 State Road, Vineyard Haven, MA 02568
      View Details
    • $650,000
      602 SF

      Vineyard Haven Commercial Space For Sale

      High-visibility commercial space in Vineyard Haven business district.
      79 Beach Road, Vineyard Haven, MA 02568
      View Details

    FAQs

    What type of property is this?
    Showroom - 2,614 sq ft commercial condo in high-traffic location.
    Where is this showroom located?
    The property is located at 455 State Rd # 8 Tisbury Vineyard Haven, MA.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Prime commercial location in Vineyard Haven's Woodland Center Marketplace.; Large 2,614± sq. ft. corner commercial condominium with **high visibility**.; Flexible layout adaptable for retail, design, or professional use.
    (508) 501-1443
    We can help!
    Listing Contact
    Stephen Rose
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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