Multi-Building Apartment
For Sale
$1,900,000
Pending
88 Route 6A, Orleans, MA 02653
COMMERCIAL - Orleans, MA
Property Size3,843 SF
Lot Size0.88 Acres
Days on Market191
Property Features for 88 Route 6A
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Village Center
Lot features
Gentle Sloping, Cleared, Easements, Level
Elementary school district
Nauset
Middle school district
Nauset
High school district
Nauset
Directions
Route 6A in Orleans across from Lowell Square, to the left of Oracle Square.
Subdivision
Orleans
Standard status
Pending
APN
ORLE M:026.0 B:0016 L:0000.0
Size
3,843 SF
Lot size
0.88 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9687
Utilities
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Building materials
Wood Frame, Clapboard, Shingle Siding
Roof type
Composition, Asphalt
Listing Agency:
William Raveis Real Estate & Home Services
(774) 994-8082
Listed By:
Sharon K Dixon · License #MA 9518180
(508) 280-3443
Added: Feb 3
Changed: Aug 10
Last Checked: Aug 13 at 1:06AM
MLS# 22600348
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.
This multi-building apartment community is offered as three parcels sold together in Orleans Village Center, configured for a variety of residential and flexible program uses. Parcel #88 includes a 2-bedroom, 1-bath home, a detached two-car garage with unfinished bonus space above, and a 520 sq. ft. foundation ready for new construction. Parcel #86A provides three one-bedroom rental units. Parcel #86B includes first-floor office space, a studio apartment above, and 342 sq. ft. of unfinished space to build out, plus a detached barn/garage.
The properties are currently occupied with long-term tenants at will. The community sits between Route 6A and the Cape Cod Rail Trail, walkable to downtown Orleans. Village Center’s flexible zoning allows further expansion with town approval.
Built in 1920 with wood frame construction and clapboard/shingle siding, the homes are served by public water and heated with natural gas, with asphalt/composition roofing.
The properties are currently occupied with long-term tenants at will. The community sits between Route 6A and the Cape Cod Rail Trail, walkable to downtown Orleans. Village Center’s flexible zoning allows further expansion with town approval.
Built in 1920 with wood frame construction and clapboard/shingle siding, the homes are served by public water and heated with natural gas, with asphalt/composition roofing.
Key Highlights
- Three parcels sold together offering a 5+ unit, multi‑building apartment setup in Orleans Village Center
- 0.88 acres totaling 3,843 sq. ft., built in 1920, served by public water and natural gas heat
- #88: 2 bed, 1 bath home with detached two‑car garage, unfinished bonus above, plus 520 sq. ft. foundation ready
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
$80,795
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
4.25%
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%
$1,615,900
$1.6M
Cap Rate 7%
$1,154,214
$1.2M
Cap Rate 9%
$897,722
$897.7K
Market Conditions
NOI Build-Up for 3,843 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
$134.7K $35.04/SF
− Vacancy
−$26.9K −$7.01/SF
EGI
$107.7K $28.03/SF
− OpEx
−$26.9K −$7.01/SF
NOI
$80.8K $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%
$1,615,900
Cap Rate 7%
$1,154,214
Cap Rate 9%
$897,722
Alternative Uses
Best Use
Office B
$1.15M
$1.01M – $1.35M
NOI $80,795 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$1.10M
$962.6K – $1.28M
NOI $77,007 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,623 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Explore this area
Business Placement
Demographics for 02653, MA
6,307
Population
5,685
Households
1.1
Avg Household Size
63
Median Age
59%
College-Educated
99%
High-School Grad
12.1 sq mi
ZIP Area
521
Density / Sq Mi
$98,798
Median Household Income
$45,853
Median Earnings
$1,181
Median Rent
$816,700
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?
Apartment building - Three parcels totaling 0.88 acres with 5+ units, including a two-car garage and office/studio space.
Where is this apartment building located?
The property is located at 88 Route 6A Orleans, MA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Three parcels sold together offering a 5+ unit, multi‑building apartment setup in Orleans Village Center; 0.88 acres totaling 3,843 sq. ft., built in 1920, served by public water and natural gas heat; #88: 2 bed, 1 bath home with detached two‑car garage, unfinished bonus above, plus 520 sq. ft. foundation ready
