Flexible Commercial Condo with
For Sale
$550,000
68 Nicolettas, Mashpee, MA 02649
Commercial condo featuring showroom, office space, and fenced yard.
Property Size2,464 SF
Price / SF$223.21
Days on Market485
Property Features for 68 Nicolettas
General Information
Standard status
Active
Size
2,464 SF
Taxes and HOA fees
Annual Taxes
$3,009
Building Details
Year Built
2006
Listing Agency:
CHATELAIN REAL ESTATE
Listed By:
NED B CHATELAIN
Source:
Corcoran
Added: May 1, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 CHATELAIN REAL ESTATE
Investment Insights
Based on property information with market context.
This flexible commercial end-unit condo offers a range of possibilities with I-1 zoning. The first floor is divided between a full-height bay with loft storage and a showroom that includes a reception area and a bathroom. The second level features a large office space, a kitchenette, a full bathroom, and additional storage. Adjacent to the unit is a fenced yard storage space. The property size is 2464 square feet. The yearly fee is $1540.
Key Highlights
- Flexible I‑1 zoning allows for a wide range of commercial uses.
- End‑unit condo offers enhanced privacy and potentially more natural light.
- Includes both showroom/reception area and large office space.
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
$50,606
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
9.20%
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%
$1,012,120
$1.0M
Cap Rate 7%
$722,943
$722.9K
Cap Rate 9%
$562,289
$562.3K
Market Conditions
NOI Build-Up for 2,464 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
$73.9K $30.00/SF
− Vacancy
−$1.6K −$0.66/SF
EGI
$72.3K $29.34/SF
− OpEx
−$21.7K −$8.80/SF
NOI
$50.6K $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%
$1,012,120
Cap Rate 7%
$722,943
Cap Rate 9%
$562,289
Alternative Uses
Best Use
Office B
$740.0K
$647.5K – $863.4K
NOI $51,803 @ 7.0% cap · market cap 9.42%
Second Best
Retail
$722.9K
$632.6K – $843.4K
NOI $50,606 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$1.00M
$878.6K – $1.17M
NOI $70,287 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Explore this area
Business Placement
Demographics for 02649, MA
15,060
Population
10,522
Households
1.4
Avg Household Size
55
Median Age
44%
College-Educated
98%
High-School Grad
23.4 sq mi
ZIP Area
644
Density / Sq Mi
$95,852
Median Household Income
$52,826
Median Earnings
$1,808
Median Rent
$515,800
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?
Office units - Commercial condo featuring showroom, office space, and fenced yard.
Where is this office units located?
The property is located at 68 Nicolettas Mashpee, MA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Flexible I‑1 zoning allows for a wide range of commercial uses.; End‑unit condo offers enhanced privacy and potentially more natural light.; Includes both showroom/reception area and large office space.
