1421 Orleans-Harwich Rd, Harwich, MA 02645

Property Details for 1421 Orleans-Harwich Rd

Year built

1988

Lot size

4.60 lot acres

Property type

Lifestyle centers

Property subtype

Power centers

Description

Harwich East Plaza, located at 1421 Orleans-Harwich Rd, Harwich, MA 02645, presents a compelling investment opportunity. This single-story, 42,987 square foot shopping center, built in 1988, sits on a 4.6-acre lot and boasts 18 tenants across 23 units. Currently operating at 86.25% occupancy, the property generates a strong NOI of $911,826, yielding a 7.75% cap rate. The asking price is $11,765,492, representing a fee-simple ownership. Key anchors include East Harwich Market, Portside Liquors, Sherwin Williams, and The 400 East Restaurant, contributing significantly to the property's stable income stream. Scheduled rent bumps are in place for the majority of tenants, offering protection against inflation and future revenue growth. The majority of leases are net leases, minimizing landlord responsibilities. Significant upside potential exists through the lease-up of 5,909 square feet of vacant space spread across five suites. The property benefits from a prime location at a signalized intersection of major roadways (MA Route 39 and MA Route 137), with excellent visibility and access. Its proximity to US Highway 6 and MA Route 28, along with its location across from Stop & Shop and near other key businesses, ensures high traffic volume. The strong demographics of the area, with over 31,400 people within a 5-mile radius and an average household income exceeding $127,168, further enhance the investment's attractiveness. Daily traffic counts average over 18,500 vehicles, significantly increasing during peak tourist seasons. This well-established shopping center offers a blend of stability and growth potential in a thriving Cape Cod market.

Location Insight

City

Harwich

County

Barnstable

State

Massachusetts

Longitude

-70.0235

Latitude

41.7066