Flex Space with
For Sale
$1,300,000
Pending
491 Iyannough Rd, Hyannis, MA
Multi-level commercial property with main-level space, office, warehouse, storage, and basement areas.
Property Size3,215 SF
Days on Market60
Property Features for 491 Iyannough Rd
General Information
Standard status
Pending
Size
3,215 SF
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$8,234
Building Details
Buildings
1
Stories
2
Listing Agency:
Premier Commercial
(508) 360-8996
Listed By:
Nik J Atsalis
(508) 360-8996
Source:
Exprealty
Added: Jun 22
Changed: Aug 20
Last Checked: Aug 19 at 12:15PM
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 Premier Commercial
Investment Insights
Based on property information with market context.
This 3, 215 sq ft flex property provides a multi-level commercial layout with a spacious main level, garage and warehouse area, second-floor office and storage, and a full basement. The property is currently occupied by Nantucket Sound and is also presented for retail, professional office, or flagship business use.
The building is positioned at the Airport Rotary, at the intersection of Route 28, Route 132, and Barnstable Road. It abuts Staples Plaza, sits across from Cape Cod Gateway Airport, and is located near Downtown Hyannis. The surrounding road network connects commuters and visitors throughout Cape Cod, with Hyannis Harbor providing access to Nantucket and Martha’s Vineyard.
The building is positioned at the Airport Rotary, at the intersection of Route 28, Route 132, and Barnstable Road. It abuts Staples Plaza, sits across from Cape Cod Gateway Airport, and is located near Downtown Hyannis. The surrounding road network connects commuters and visitors throughout Cape Cod, with Hyannis Harbor providing access to Nantucket and Martha’s Vineyard.
Key Highlights
- 3, 215 sq ft flex property with main‑level, office, warehouse, storage, and basement areas
- Garage and warehouse space included
- Second‑floor office and storage 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
$66,030
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
5.08%
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%
$1,320,600
$1.3M
Cap Rate 7%
$943,286
$943.3K
Cap Rate 9%
$733,667
$733.7K
Market Conditions
NOI Build-Up for 3,215 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
$96.5K $30.00/SF
− Vacancy
−$2.1K −$0.66/SF
EGI
$94.3K $29.34/SF
− OpEx
−$28.3K −$8.80/SF
NOI
$66.0K $20.54/SF
Area
Barnstable County, MA
Vacancy
2.20%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,320,600
Cap Rate 7%
$943,286
Cap Rate 9%
$733,667
Alternative Uses
Best Use
Retail
$943.3K
$825.4K – $1.10M
NOI $66,030 @ 7.0% cap · market cap 5.08%
Second Best
Industrial
$663.2K
$580.3K – $773.7K
NOI $46,423 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,709 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Multi-level commercial property with main-level space, office, warehouse, storage, and basement areas.
Where is this flex space located?
The property is located at 491 Iyannough Rd Hyannis, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 3, 215 sq ft flex property with main‑level, office, warehouse, storage, and basement areas; Garage and warehouse space included; Second‑floor office and storage area
