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    697 Main St Chatham, MA 02633

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    697 Main St Chatham, MA 02633

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    • Office buildings
    • 3,415 SF
    • 0.26 lot acres
    For Sale
    $2,799,000
    View Listing →
    Chatham In-Town Commercial Property For Sale
    $2,799,000
    4,235 SF

    Chatham In-Town Commercial Property

    Renovated commercial space with parking and elevator access.

    697 Main Street, Chatham, MA 2633
    View Listing
    Property ID
    US38-1321794
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Eldredge & Lumpkin Insurance / Insurance Agency

    Property Details for 697 Main St

    Year built
    1962
    Construction
    FRAME
    Lot size
    0.26 lot acres
    Property size
    3,415 SF
    Zone code
    GB2
    Property type
    Office buildings
    APN
    CHAT M:14E B:0019 L:13A
    APU
    CHATM14EB0019L13A

    Description

    This exceptional 4,235-square-foot commercial property at 697 Main Street in Chatham, MA, offers a unique opportunity for businesses seeking a prominent location. Situated on a 0.26-acre lot, this three-story building boasts excellent visibility and signage opportunities, ensuring high exposure for your business. The property underwent a complete renovation by Rick Roy Construction in 2008, with an expansion added in 2015. It is fully ADA-compliant and includes a convenient elevator for easy access to all three floors. Currently configured as professional offices, the layout is highly adaptable to various commercial uses, including retail. The first floor features a welcoming reception area, five private offices, and a comfortable waiting area. The second floor provides six additional offices and a full bathroom. The lower level offers versatile space including two half-bathrooms, a lounge area, a finished room, and access to the building's utilities and elevator mechanics. A large unfinished area presents potential for expansion or customization. Thirteen dedicated parking spaces are available on-site, supplemented by ample public parking directly across the street. This property is ideally suited for a variety of commercial ventures and presents a compelling investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,275,000
      6.5%
      $1,180,000
      7%
      $1,095,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chatham
    County
    Barnstable
    State
    Massachusetts
    Longitude
    -69.963
    Latitude
    41.6831
    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
    $4,474
    $713,100
    $540,000
    $1,253,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      121 Stony Hl Rd

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      View Details
    • Value Estimation
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      3,000 SF

      1445 Main St

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      View Details
    • Value Estimation by Request
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      OFFICE BUILDING • 1,413 SF
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      View Details

    Similar Nearby for Sale

    • New
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      Chatham Commercial Building For Sale

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      697 Main St, Chatham, MA 02633
      View Details
    • $2,499,000

      Renovated Commercial Building with Elevator

      In-town commercial property suitable for office, retail, or apartment.
      697 Main St, Chatham, MA 02633
      View Details
    • $2,799,000
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      Chatham In-Town Commercial Property

      Renovated commercial space with parking and elevator access.
      697 Main St, Chatham, MA 02633
      View Details
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      Spacious Corner Office in Chatham

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    Similar Nearby for Lease

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      Chatham Commercial Space For Rent

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      View Details
    • $3,000 /Mo

      Versatile Commercial Space in Chatham

      1,583 SF commercial space ideal for offices or creative firms.
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      Prime Retail Space on Main

      3,500 SF retail space in the heart of Chatham.
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    • Contact for pricing
      1,000 SF

      Prime Retail Space in Chatham

      Corner retail location in the heart of Main Street Chatham.
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    • $75 SF/Yr

      Main Street Storefront with Apartments

      3,500 SF storefront with apartments in the heart of Chatham.
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    • $40 SF/Yr
      Pending

      Prime Chatham Retail Space Available

      Exceptional commercial space in a highly desirable Chatham location.
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    View Listing
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    Chatham, MA 02633
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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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