Multi-Building Apartment
For Sale
$1,900,000
Pending
88 Route 6A, Orleans, MA 02653
MULTI_FAMILY - Orleans, MA
Property Size3,843 SF
Lot Size0.88 Acres
Days on Market209
Property Features for 88 Route 6A
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Village Center
Bedrooms
6
Bathrooms
7
Full bathrooms
6
Half bathrooms
1
Rooms
Basement, Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 5, Bathroom 6, Bedroom 5, Bedroom 2, Bathroom 7, Bathroom 4, Bathroom 1, Bathroom 3, Bedroom 3
Parking
12
Parking features
Off Street
Exterior features
Garden
Basement
Walk-Out Access, Full, Partial
Lot features
Gentle Sloping, Cleared, Easements, Level
Elementary school district
Nauset
Middle school district
Nauset
High school district
Nauset
Directions
Route 6A next to Oracle Square
Subdivision
Orleans
Standard status
Pending
APN
26-16-0
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
Clapboard, Shingle Siding
Roof type
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 17
Last Checked: Aug 31 at 6:06PM
MLS# 22602474
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 3,843-square-foot multifamily property combines three parcels on 0.88 acres. The improvements include a two-bedroom, one-bath home with a detached two-car garage and unfinished bonus area; three one-bedroom apartments; a studio apartment; first-floor office space; and additional unfinished areas in separate structures. A 520 sq. ft. foundation is also in place for potential new construction, while a detached barn/garage adds storage or utility space. The buildings date to 1920 and feature clapboard and shingle siding, asphalt roofing, natural gas heat, public water, and off-street parking.
The property is located at 88 Route 6A in Orleans, between Route 6A and the Cape Cod Rail Trail, with downtown Orleans within walking distance. Village Center zoning is described as allowing further expansion with town approval. Existing occupancy is by long-term tenants at will.
The property is located at 88 Route 6A in Orleans, between Route 6A and the Cape Cod Rail Trail, with downtown Orleans within walking distance. Village Center zoning is described as allowing further expansion with town approval. Existing occupancy is by long-term tenants at will.
Key Highlights
- 0.88‑acre, 3,843‑square‑foot multifamily property comprising three parcels
- Five residential units: one 2‑bedroom home, three 1‑bedroom apartments, and one studio
- First‑floor office space plus 342 sq. ft. of unfinished area for build‑out
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
$77,007
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
4.05%
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%
$1,540,140
$1.5M
Cap Rate 7%
$1,100,100
$1.1M
Cap Rate 9%
$855,633
$855.6K
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
$144.3K $37.56/SF
− Vacancy
−$4.3K −$1.13/SF
EGI
$140.0K $36.43/SF
− OpEx
−$63.0K −$16.39/SF
NOI
$77.0K $20.04/SF
Area
Barnstable County, MA
Vacancy
3.00%
Lease Rate
$37.56 /SF/Yr
Expense Ratio
45.00%
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%
$1,540,140
Cap Rate 7%
$1,100,100
Cap Rate 9%
$855,633
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$962.6K – $1.28M
NOI $77,007 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
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
5
Residential units
Multi-tenant
Tenancy
Yes
Highway access
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit residential configuration includes office space and areas for additional build-out.
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: 0.88‑acre, 3,843‑square‑foot multifamily property comprising three parcels; Five residential units: one 2‑bedroom home, three 1‑bedroom apartments, and one studio; First‑floor office space plus 342 sq. ft. of unfinished area for build‑out
