Building Details

Year Built 1995

Listing Agency: Kinlin Grover Compass

Listed By: The The Narrowland Group Show Phone

Source: Crexi

Added: Sep 23, 2024 Changed: Oct 2 Last Checked: Oct 4 at 10:25AM

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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 Kinlin Grover Compass

Investment Insights

Based on property information with market context.

This unique three-unit mixed-use building is located in the highly visible General Business Zone in Truro, situated on an acre lot with deeded Cape Cod Bay beach rights. Constructed with high-end materials and finishes, the property is in excellent, well-maintained condition. It offers potential for various mixed commercial and residential uses and has fantastic expansion potential due to the generous lot size. The building comprises two two-level office suites, each featuring multiple offices, reception areas, bathrooms, and a kitchen. Additionally, there is a rear residential unit. Each unit has its own outside entrance. The larger office suite includes a lower-level gym, storage area, and laundry facilities, and could be converted into a well-appointed home. All units are handicap accessible and have interior and exterior access to exclusive basement storage areas, as well as ample parking. The property is served by a private well and septic system, and also benefits from a rare town water connection, expanding potential uses to possibly include a restaurant. The property's size is 4032 square feet.

Key Highlights

• Deeded Cape Cod Bay beach rights
• High‑end construction and well‑maintained condition
• Generous lot size with fantastic expansion potential

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$84,769

Cap Rate

4.24%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,695,380 $1.7M

Cap Rate 7%

$1,210,986 $1.2M

Cap Rate 9%

$941,878 $941.9K

Market Conditions

NOI Build-Up for 4,032 SF

Gross rent

$141.3K $35.04/SF

− Vacancy

−$28.3K −$7.01/SF

EGI

$113.0K $28.03/SF

− OpEx

−$28.3K −$7.01/SF

NOI

$84.8K $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 Rate 5%

$1,695,380

Cap Rate 7%

$1,210,986

Cap Rate 9%

$941,878

Alternative Uses

Best Use

Office B

$1.21M

$1.06M – $1.41M (±1% cap)

NOI $84,769 @ 7.0% cap · market cap 4.24%

Second Best

Mixed Use

$803.5K

$703.1K – $937.4K (±1% cap)

NOI $56,246 @ 7.0% cap · market cap 2.81%

Theoretical Best

Office A

$1.64M

$1.44M – $1.92M (±1% cap)

NOI $115,015 @ 7.0% cap · market cap 5.75%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Office Units

Location Intelligence

Trade Area within ½ mile

38

Businesses Nearby

Explore this area Business Placement

Demographics for 02666, MA

1,052

Population

1,588

Households

0.7

Avg Household Size

60

Median Age

74%

College-Educated

96%

High-School Grad

12.6 sq mi

ZIP Area

83

Density / Sq Mi

$111,344

Median Household Income

$670,700

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Three-unit mixed-use building with expansion potential and Cape Cod Bay rights.

Where is this mixed-use property located?

The property is located at 332 Route 6 Truro, MA.

What is the asking price?

The asking price for this property is $2,000,000.

What are key features of this property?

This property features: Deeded Cape Cod Bay beach rights; High‑end construction and well‑maintained condition; Generous lot size with fantastic expansion potential