Building Details

Buildings 1

Construction ranch

Listing Agency: Sotheby's International Realty a***@anniehartcool.com Show Phone

Listed By: Annie Hart Cool Show Phone

Source: Exprealty

Added: Aug 5 Changed: Aug 16 Last Checked: Aug 17 at 9:40PM

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Investment Insights

Based on property information with market context.

This renovated ranch-style duplex is arranged as two distinct living areas. The upper level contains two bedrooms, while the lower level provides a separate one-bedroom residence, supporting private accommodations for occupants, guests, or extended household use.

The property overlooks Round Pond and includes a private dock, kayak and canoe launch, and outdoor shower. A passed Title 5 septic system is sized for three bedrooms. The property is located at 8 Theatre Dr in East Falmouth, Massachusetts.

Key Highlights

• Renovated ranch‑style duplex with two separate living areas
• Upper level includes two bedrooms; lower residence has one bedroom
• Waterfront setting overlooking Round Pond

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

$49,041

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

5.03%

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%

$980,820 $980.8K

Cap Rate 7%

$700,586 $700.6K

Cap Rate 9%

$544,900 $544.9K

Market Conditions

NOI Build-Up for 2,200 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

$72.6K $33.00/SF

− Vacancy

−$2.5K −$1.16/SF

EGI

$70.1K $31.85/SF

− OpEx

−$21.0K −$9.55/SF

NOI

$49.0K $22.29/SF

Area

Barnstable County, MA

Vacancy

3.50%

Lease Rate

$33.00 /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%

$980,820

Cap Rate 7%

$700,586

Cap Rate 9%

$544,900

Alternative Uses

Best Use

Multifamily LT 5

$700.6K

$613.0K – $817.4K (±1% cap)

NOI $49,041 @ 7.0% cap · market cap 5.03%

Second Best

Apartment 5plus

$629.8K

$551.1K – $734.7K (±1% cap)

NOI $44,084 @ 7.0% cap · market cap 4.52%

Theoretical Best

Office A

$896.5K

$784.5K – $1.05M (±1% cap)

NOI $62,756 @ 7.0% cap · market cap 6.44%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Dental Office Law Firm Auto Parts Store Real Estate Agency Pharmacy Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

57

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Two separate living areas pair residential flexibility with direct access to Round Pond.

Where is this duplex located?

The property is located at 8 Theatre Dr East Falmouth, MA.

What is the asking price?

The asking price for this property is $975,000.

What are key features of this property?

This property features: Renovated ranch‑style duplex with two separate living areas; Upper level includes two bedrooms; lower residence has one bedroom; Waterfront setting overlooking Round Pond