40 Davis Straits Falmouth, MA 02540

Property Details for 40 Davis Straits

Year built

2018

Construction

STEEL FRAME

Lot size

0.72 lot acres

Property size

5,100 SF

Zone code

B2

Property type

Showrooms

APN

FALM 39 S:21 P:004E L:000

APU

FALM39S21P004EL000

Description

This exceptional 5,099 square foot Class A medical office building in Falmouth, MA, presents a compelling investment opportunity. Situated on a 0.72-acre lot at 40 Davis Straits, this property boasts a prime location on Route 28, a major thoroughfare with high visibility and traffic volume (14,657 vehicles per day). The building is 100% occupied by ConvenientMD, a leading New England urgent care provider, under a 15-year absolute NNN lease (commencing November 6, 2018) with 9.5 years remaining. The lease includes four five-year renewal options, each with an 11% rent increase. The current annual net operating income (NOI) is $243,375, resulting in a 6.15% capitalization rate. The tenant is financially strong, backed by a corporate guarantee, and responsible for all operating expenses except roof maintenance. Built in 2018, this property benefits from a dense population base, with over 15,465 residents within a 3-mile radius and an average household income exceeding $127,990. The property's proximity to major retailers like Walmart, Shaw's, and TJ Maxx further enhances its desirability. This stabilized investment offers a secure, low-management opportunity with built-in inflation protection through the lease's rent escalations. The asking price is $3,957,317, making it an attractive addition to any portfolio. This offering is ideal for a 1031 exchange.

Location Insight

City

Falmouth

County

Barnstable

State

Massachusetts

Longitude

-70.6002

Latitude

41.557

CBSA code

12700

CBSA name

BARNSTABLE TOWN, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments