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    Property profile & analytics

    248 Stevens St Hyannis, MA 02601

    • Office buildings
    • 4,050 SF
    • 0.60 lot acres
    For Lease
    View listing
    $23 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0350325
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 248 Stevens St

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.60 lot acres
    Property size
    4,050 SF
    Zone code
    R
    Property type
    Office buildings
    APN
    HYAN M:308 L:018
    APU
    HYANM308L018

    Description

    This exceptional special-purpose property at 248 Stevens Street, Hyannis, MA 02601, offers a unique opportunity. The single-tenant building, situated on a 0.6-acre lot (APN 308-018), boasts a total of 4,050 square feet. The available space comprises an 8' x 10'6" office on the first floor of a beautiful brick building. A month-to-month lease is available, providing flexibility for the tenant. All utilities are included in the rental price, simplifying budgeting. Existing furniture, including a desk and chairs (different from those pictured in marketing materials), is provided. Shared amenities include a comfortable sitting area and a restroom. This property presents a rare chance to secure a well-appointed, conveniently located office space in a desirable area of Barnstable County. The property's convenient location and inclusive lease terms make it an attractive option for businesses seeking a hassle-free workspace. The building's brick construction suggests durability and a professional aesthetic. The 0.6-acre lot offers ample space and potential for future expansion or outdoor use. This is an ideal solution for a small business or individual professional seeking a turnkey office solution.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,515,000
      6.5%
      $1,395,000
      7%
      $1,295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,151,000
      Market price range: $773k - $1.15M
      AI Estimate
      $1,070,000
      Market price range: $430k - $1.10M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $895,000
      Current use
      COMMERCIAL (GENERAL)
      $945,000
      Change: +6% Conversion: Easy
      RETAIL STORES
      $915,000
      Change: +3% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hyannis
    County
    Barnstable
    State
    Massachusetts
    Longitude
    -70.2946
    Latitude
    41.6512
    CBSA code
    12700
    CBSA name
    BARNSTABLE TOWN, MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $9,531
    $232,000
    $745,500
    $977,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,115,000
      6,080 SF

      737 Main St

      OFFICE BUILDING • 6,080 SF
      737 Main St, Hyannis, MA 02601-3422
      View Details
    • Value Estimation
      $1,310,000
      7,620 SF

      76 Main St

      OFFICE BUILDING • 7,620 SF
      76 Main St, Hyannis, MA 02601-3752
      View Details
    • Value Estimation
      $2,020,000
      9,975 SF

      1060 Falmouth Rd

      OFFICE BUILDING • 9,975 SF
      1060 Falmouth Rd, Hyannis, MA 02601-2371
      View Details
    • Value Estimation
      $3,270,000
      18,510 SF

      255 Independence Dr

      OFFICE BUILDING • 18,510 SF
      255 Independence Dr, Hyannis, MA 02601-1854
      View Details
    • Value Estimation
      $5,060,000
      29,500 SF

      973 Iyannough Rd

      OFFICE BUILDING • 29,500 SF
      973 Iyannough Rd, Hyannis, MA 02601-1869
      View Details
    • Value Estimation
      $2,235,000
      7,666 SF

      1575 Iyannough Rd

      OFFICE BUILDING • 7,666 SF
      1575 Iyannough Rd, Hyannis, MA 02601-1840
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,051 SF

      Class A Office Space Hyannis

      Premium office space in Hyannis, Cape Cod. Move-in ready.
      248 Stevens St, Hyannis, MA 02601
      View Details
    • $775,000

      Hyannis Office Building For Sale

      Fully occupied office building with stable income in Hyannis.
      243 South St, Hyannis, MA 02601
      View Details
    • $775,000
      2,766 SF

      Hyannis Office Building Investment

      Fully leased office building in Hyannis with stable income.
      243 South St, Hyannis, MA 02601
      View Details
    • $795,000
      5,790 SF

      Renovated Condo Unit in Hyannis

      Modern, renovated 2,895 sq ft condo unit in Hyannis.
      68 Center St, Hyannis, MA 02601
      View Details
    • $795,000
      5,790 SF

      Hyannis Commercial Condo For Sale

      Modern, renovated condo unit in Hyannis business district.
      68 Ctr St Unit, Hyannis, MA 02601
      View Details
    • $2,250,000
      13,242 SF

      Hyannis Commercial Space For Sale

      Prime commercial space in downtown Hyannis with diverse tenant mix.
      338 Main St, Hyannis, MA 02601
      View Details

    Similar Nearby for Lease

    • $900 /Mo
      7,792 SF

      Hyannis Office Space Available

      Office space for rent in Hyannis, Massachusetts.
      1047 Falmouth Rd, Hyannis, MA 02601
      View Details
    • $16 SF/Yr
      7,420 SF

      Prime Hyannis Office/Retail Space

      7,420 SF, Drive-Thru, High Visibility
      749 Main St, Barnstable, MA 02601
      View Details
    • $24 SF/Yr
      5,000 SF

      Hyannis Main Street Office Space

      5,000 sq ft Office, Retail, Restaurant Space
      442 Main St, Barnstable, MA 02601
      View Details
    • $1,900 /Mo
      7,792 SF

      Hyannis Office Space Available

      Office space for rent in Hyannis, multiple units available.
      1047 Falmouth Rd, Hyannis, MA 02601
      View Details
    • $23 SF/Yr
      4,051 SF

      Class A Hyannis Office Space

      First-class office space in Hyannis, Cape Cod, with ample parking.
      248 Stevens St, Hyannis, MA 02601
      View Details
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    Hyannis, MA 02601
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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.

    More about this property
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