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Old Colony YMCA Condominium

270 Communication Way, Barnstable, MA 02601

Listing Price: $1,442,000

Cap Rate
7.45%
Gross SF
7,000
Rentable SF
7,000
Price/Gross SF
$206.00
Lot Size
6.31 acres
Year Built
1988

Investment Overview

The subject property is a condominium building fully leased by Old Colony YMCA, who has five years remaining on the lease with one five-year option to extend. Old Colony YMCA operates on a modified gross lease with 2% increases annually. As part of a condominium, the tenant’s condo fees include insurance, taxes, management fee, roof & structure, and all exterior maintenance. The 7,000 square foot building is situated within Independence Place, a 40,000+ square foot office park. The property is just down the road from over 600,000 square feet of retail and less than one mile from the Cape Cod Mall (720,000+ square feet). Transportation is easily accessible as the Barnstable Municipal Airport is less than two miles from the property and Hy-Line Cruises, providing direct access to Martha’s Vineyard and Nantucket, is less than three miles from the property. Downtown Boston is located 70 miles north of the property and downtown Providence is located 74 miles west.

Investment Highlights

  • 100% Leased by Old Colony YMCA
  • Five Years Remaining with (1) 5-Year Option | 2% Annual Increases
  • Located within Independence Place (40,000+ SF Office Park)

Exclusively Listed By

Financing By

Listing Price: $1,442,000

Cap Rate
7.45%
Gross SF
7,000
Rentable SF
7,000
Price/Gross SF
$206.00
Lot Size
6.31 acres
Year Built
1988

Investment Highlights

  • 100% Leased by Old Colony YMCA
  • Five Years Remaining with (1) 5-Year Option | 2% Annual Increases
  • Located within Independence Place (40,000+ SF Office Park)

Investment Overview

The subject property is a condominium building fully leased by Old Colony YMCA, who has five years remaining on the lease with one five-year option to extend. Old Colony YMCA operates on a modified gross lease with 2% increases annually. As part of a condominium, the tenant’s condo fees include insurance, taxes, management fee, roof & structure, and all exterior maintenance. The 7,000 square foot building is situated within Independence Place, a 40,000+ square foot office park. The property is just down the road from over 600,000 square feet of retail and less than one mile from the Cape Cod Mall (720,000+ square feet). Transportation is easily accessible as the Barnstable Municipal Airport is less than two miles from the property and Hy-Line Cruises, providing direct access to Martha’s Vineyard and Nantucket, is less than three miles from the property. Downtown Boston is located 70 miles north of the property and downtown Providence is located 74 miles west.

Exclusively Listed By

Financing By

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