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    8 Highland Rd Truro, MA 02652
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    8 Highland Rd Truro, MA 02652

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    • Specialty properties
    • 2,179 SF
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    Cap Rate Potential
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    • Specialty properties

    Property Details for 8 Highland Rd

    Year built
    1994
    Property size
    2,179 SF
    Property type
    Specialty properties

    Description

    This exceptional commercial condominium, located at 8 Highland Road in North Truro, Massachusetts, presents a unique investment opportunity. Boasting 2,179 square feet of versatile space, this 1994-built property sits on a generous 15,246 square foot lot. Its prime location in the heart of Truro village offers unparalleled access to the Outer Cape's amenities, including the post office, various shops and restaurants, the Highland Golf Course, and the nearby town of Provincetown. The property's adaptable layout is ideal for a variety of commercial uses, including retail sales, food preparation, storage, and office space. The sale includes the real estate, along with existing fixtures and improvements. Ample parking is available, and the property benefits from excellent street frontage, ideal for signage. The building is in good condition and is easily shown. This property is perfect for an owner-operator seeking a high-visibility location or an investor looking for a strong rental income stream. The asking price is $899,000. Don't miss this chance to acquire a thriving commercial property in a desirable Outer Cape location. The property's zip code is 02652.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Truro
    County
    Barnstable
    State
    Massachusetts
    Longitude
    -70.0838
    Latitude
    42.0348

    Comparable in this City

    • Value Estimation by Request
      24,801 SF

      706 Shr Rd

      Specialty properties • 24,801 SF
      706 Shr Rd, Provincetown, MA 02652
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    • Value Estimation by Request
      130 SF

      1 Highland Rd, Unit A1

      COMMERCIAL CONDOMINUIM • 130 SF
      1 Highland Rd, North Truro, MA 02652
      View Details
    • Value Estimation by Request
      1,000 SF

      1 Highland Rd, Unit A2

      COMMERCIAL CONDOMINUIM • 1,000 SF
      1 Highland Rd, North Truro, MA 02652
      View Details
    • Value Estimation
      $1,440,000
      1,984 SF

      1 Highland Rd, Unit B

      COMMERCIAL CONDOMINUIM • 1,984 SF
      1 Highland Rd, North Truro, MA 02652-9801
      View Details
    • Value Estimation by Request
      1,000 SF

      1 Highland Rd, Unit A3

      COMMERCIAL CONDOMINUIM • 1,000 SF
      1 Highland Rd, North Truro, MA 02652
      View Details
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    Truro, MA 02652
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    8 Highland Rd, Truro, MA, 02652
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