First-Floor Rehabilitation
For Sale
$399,000
5 Bay State Ct Unit 5, Brewster, MA 02631
Operational physical therapy practice with treatment rooms, equipment, accessible facilities, and parking for staff and patients.
Property Size933 SF
Price / SF$427.65
Days on Market17
Property Features for 5 Bay State Ct Unit 5
General Information
Standard status
Active
Size
933 SF
Additional Details
Floor
First Floor
Business Included
Yes
Building Details
Year Built
1987
Listing Agency:
Bayside Realty Consultants
(508) 685-6660
Listed By:
Kimberly A Clark
Source:
Leightonteam
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 29 at 7:39PM
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 Bayside Realty Consultants
Investment Insights
Based on property information with market context.
This 933-square-foot first-floor rehabilitation center combines an operating physical therapy practice with the underlying real estate. The suite includes multiple treatment rooms, an ADA-compliant bathroom, and equipment used in physical therapy operations. The sale also includes the established business and its patient database, providing continuity for the incoming operator.
Built in 1987, the property is located at 5 Bay State Ct Unit 5 in Brewster, Massachusetts, near the Orleans town line. Parking is available for both staff and patients. The seller is willing to assist with the transition, and the layout is arranged for organized patient care and day-to-day practice operations.
Built in 1987, the property is located at 5 Bay State Ct Unit 5 in Brewster, Massachusetts, near the Orleans town line. Parking is available for both staff and patients. The seller is willing to assist with the transition, and the layout is arranged for organized patient care and day-to-day practice operations.
Key Highlights
- 933‑square‑foot first‑floor physical therapy facility
- Sale includes the business, real estate, equipment, and patient database
- Multiple treatment rooms support varied physical therapy services
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
$19,615
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
4.92%
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%
$392,300
$392.3K
Cap Rate 7%
$280,214
$280.2K
Cap Rate 9%
$217,944
$217.9K
Market Conditions
NOI Build-Up for 933 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
$32.7K $35.04/SF
− Vacancy
−$6.5K −$7.01/SF
EGI
$26.2K $28.03/SF
− OpEx
−$6.5K −$7.01/SF
NOI
$19.6K $21.02/SF
Area
Barnstable County, MA
Vacancy
20.00%
Lease Rate
$35.04 /SF/Yr
Expense Ratio
25.00%
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%
$392,300
Cap Rate 7%
$280,214
Cap Rate 9%
$217,944
Alternative Uses
Best Use
Office B
$280.2K
$245.2K – $326.9K
NOI $19,615 @ 7.0% cap · market cap 4.92%
Second Best
Healthcare Medical
$188.4K
$164.9K – $219.8K
NOI $13,190 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$380.2K
$332.7K – $443.6K
NOI $26,614 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Explore this area
Business Placement
Demographics for 02631, MA
10,178
Population
8,215
Households
1.2
Avg Household Size
58
Median Age
52%
College-Educated
98%
High-School Grad
22.2 sq mi
ZIP Area
458
Density / Sq Mi
$93,427
Median Household Income
$47,395
Median Earnings
$1,386
Median Rent
$621,800
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?
Rehabilitation center - Operational physical therapy practice with treatment rooms, equipment, accessible facilities, and parking for staff and patients.
Where is this rehabilitation center located?
The property is located at 5 Bay State Ct Unit 5 Brewster, MA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 933‑square‑foot first‑floor physical therapy facility; Sale includes the business, real estate, equipment, and patient database; Multiple treatment rooms support varied physical therapy services
