Live-Work Space with
For Sale
$1,549,000
Pending
515 Route 28, Harwich Port, MA 02646
COMMERCIAL - Harwich Port, MA
Property Size2,493 SF
Lot Size0.27 Acres
Days on Market579
Property Features for 515 Route 28
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Multi-Use
Parking features
Parking Lot
Appliances
Water Heater
Lot features
Corner Lot, Cleared, Level
Elementary school district
Monomoy
Middle school district
Monomoy
High school district
Monomoy
Directions
Route 28 downtown Harwich Port. Property is on the corner of Ayer Lane
Subdivision
Harwich
Standard status
Pending
APN
14-Q11-1-0
Size
2,493 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6053
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1880
Floors in Building
2
Number of units
1
Flooring type
Vinyl, Carpet, Laminate
Building materials
Clapboard
Roof type
Shingle
Listing Agency:
Kinlin Grover Compass
(508) 240-0334
Listed By:
Nat S Santoro · License #141467
(508) 274-0509
Added: Jan 18, 2025
Changed: Aug 11
Last Checked: Aug 20 at 2:06PM
MLS# 22501904
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.
Live-work property offering commercial space on the main level and a second-level apartment. The building totals 2,493 SF on a 0.27-acre lot, with nearly 1,600 SF of commercial space and a spacious nearly 900 SF apartment above. The layout supports using the apartment as a residence or renting it, while keeping a dedicated commercial area on-site.
Built in 1880 with clapboard construction and a shingle roof, the property includes forced-air heating with natural gas and central air conditioning. Flooring includes vinyl, laminate, and carpet. Practical utilities include public water and a septic tank for sewer service, and there is a water heater on site.
On-site parking is provided with a parking lot, supporting day-to-day business access and customer or tenant parking needs at 515 Route 28, Harwich Port, MA 02646.
Built in 1880 with clapboard construction and a shingle roof, the property includes forced-air heating with natural gas and central air conditioning. Flooring includes vinyl, laminate, and carpet. Practical utilities include public water and a septic tank for sewer service, and there is a water heater on site.
On-site parking is provided with a parking lot, supporting day-to-day business access and customer or tenant parking needs at 515 Route 28, Harwich Port, MA 02646.
Key Highlights
- 2,493 SF live‑work building on a 0.27‑acre lot
- Nearly 1,600 SF commercial space plus a nearly 900 SF second‑level apartment
- On‑site parking provided with a parking lot
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
$52,413
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
3.38%
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%
$1,048,260
$1.0M
Cap Rate 7%
$748,757
$748.8K
Cap Rate 9%
$582,367
$582.4K
Market Conditions
NOI Build-Up for 2,493 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
$87.4K $35.04/SF
− Vacancy
−$17.5K −$7.01/SF
EGI
$69.9K $28.03/SF
− OpEx
−$17.5K −$7.01/SF
NOI
$52.4K $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%
$1,048,260
Cap Rate 7%
$748,757
Cap Rate 9%
$582,367
Alternative Uses
Best Use
Office B
$748.8K
$655.2K – $873.6K
NOI $52,413 @ 7.0% cap · market cap 3.38%
Second Best
Mixed Use
$496.8K
$434.7K – $579.6K
NOI $34,777 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$1.02M
$888.9K – $1.19M
NOI $71,114 @ 7.0% cap · market cap 4.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Explore this area
Business Placement
Demographics for 02646, MA
1,926
Population
2,519
Households
0.8
Avg Household Size
63
Median Age
65%
College-Educated
100%
High-School Grad
2.9 sq mi
ZIP Area
664
Density / Sq Mi
$74,276
Median Household Income
$59,737
Median Earnings
$1,964
Median Rent
$723,600
Median Home Value
Market
Vacancy Rate% for Office 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?
Live-work space - Includes commercial space with on-site parking plus second-level apartment; heated with natural gas and central A/C.
Where is this live-work space located?
The property is located at 515 Route 28 Harwich Port, MA.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: 2,493 SF live‑work building on a 0.27‑acre lot; Nearly 1,600 SF commercial space plus a nearly 900 SF second‑level apartment; On‑site parking provided with a parking lot
