Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    488 South Street Hyannis, MA 02601

    View on Map
    For Sale
    $2,195,000

    COMMERCIAL - Hyannis, MA

    Property size:
    5,504 SF
    Lot size:
    0.43 Acres
    Added:
    Nov 14, 2025
    Days on Market:
    137
    Last Refresh:
    Mar 31 at 11:06 pm

    Property Features for 488 South Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Off Street, Parking Lot
    Appliances
    Water Heater
    Standard status
    Active
    APN
    HYAN M:308 L:141
    Size
    5,504 SF
    Lot size
    0.43 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxAnnualAmount
    10677

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1900
    Floors in Building
    1
    Flooring type
    Hardwood, Tile, Carpet
    Building materials
    Clapboard
    Roof type
    Shingle, Wood

    We can help!

    Listing Contact
    Danny M Griffin

    Listing agent Danny M Griffin License #9053633

    Listing office Griffin Realty Group 10 Wianno Ave, Suite 2, MA

    Listing date Nov 14, 2025

    MLS# 22505613

    Copyright © 2026 Cape Cod & Islands Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Reimagined Restaurant in Historic Hyannis

    This reimagined restaurant, located in the heart of Historic Hyannis, blends Cape Cod's maritime past with a modern aesthetic. The property features an open, airy layout with hardwood floors, rich rugs in the main dining area, quartz-topped counters, and modern lighting. Soaring ceilings with exposed beams and colonial-style brick fireplaces complement the deep booths and wine-leather seating. The industrial stainless-steel kitchen is organized and ready for service. The property size is 5504 square feet, situated on a 0.43-acre lot. Set amid nearby development projects, this property offers investment potential. The property is intended for use as a restaurant and offers potential for other business uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Cape Cod Catering Company — 297 North St, Hyannis, MA 02601
    • White's Catering — 59 Center St, Hyannis, MA 02601
    • Carol Williams Catering — 50 Sea St, Hyannis, MA 02601

    Location Insight

    • Map
    • Local Demand
    City
    Hyannis
    County
    Barnstable
    State
    Massachusetts
    Longitude
    -70.2924
    Latitude
    41.6607

    Nearby Similar for Sale

    • $499,000
      2,256 SF

      Restaurant Space in Downtown Hyannis

      Turnkey restaurant with flexible space in the heart of Hyannis.
      517 Main Street, Hyannis, MA 02601
      View Details
    • $330,000
      1,414 SF

      Hyannis Commercial Business Bay/Office Unit

      Commercial business bay/office unit for sale in Hyannis, MA.
      270 Communication Way, Hyannis, MA 02601
      View Details
    • $545,000
      2,790 SF

      Hyannis Commercial Condominium For Sale

      Commercial condominium in Hyannis, ideal for investment or relocation.
      68 Center Street unit: 19, Hyannis, MA 02601
      View Details
    • $2,195,000
      13,242 SF

      Hyannis Commercial Space For Sale

      13,424 SF commercial space in downtown Hyannis.
      338 Main Street, Hyannis, MA 02601
      View Details
    • $599,000
      2,822 SF

      Hyannis Retail Property For Sale

      Retail property in Hyannis, MA, with redevelopment potential.
      181 Spring Street, Hyannis, MA 02601
      View Details
    • $899,000
      4,259 SF

      Prime Corner Commercial Condo, Hyannis

      High-visibility 4,200 SF commercial condo in downtown Hyannis.
      615 Main Street unit: 14, Hyannis, MA 02601
      View Details
    • $220,000
      5,880 SF

      Iconic Hyannis Restaurant Opportunity

      Established restaurant with seating and recent upgrades for sale.
      505 Main Street, 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 Street, Hyannis, MA 02601
      View Details
    • $598,000
      16,239 SF

      Established Restaurant and Bar Opportunity

      Turnkey restaurant and bar with high traffic location in Hyannis.
      950 Iyannough Road, Hyannis, MA 02601
      View Details
    • $2,000,000
      3,415 SF

      Turn-Key Investment in Hyannis, MA

      Fully renewed mixed-use property with immediate income potential.
      712 Main Street, Hyannis, MA 02601
      View Details
    • $549,000
      2,228 SF

      Historic Hyannis Main Street Space

      Prime commercial space for sale or lease in Hyannis, MA.
      615 Main Street unit: 13, Hyannis, MA 02601
      View Details
    • $1,399,000
      5,348 SF

      Downtown Hyannis Two-Unit Building

      Two-unit building in downtown Hyannis with investment opportunity.
      328 Main Street, Hyannis, MA 02601
      View Details

    FAQs

    What type of property is this?
    Restaurant - Premiere restaurant with modern updates in the heart of Hyannis.
    Where is this restaurant located?
    The property is located at 488 South Street Hyannis, MA.
    What is the asking price?
    The asking price for this property is $2,195,000.
    What are key features of this property?
    This property features: Prime restaurant location in the heart of Historic Hyannis.; **Completely renovated with a modern, open layout and updated features.**; **Fully equipped, impeccably organized industrial stainless‑steel kitchen.**
    (508) 420-8800
    We can help!
    Listing Contact
    Danny M Griffin
    Real Estate License ID: 9053633
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!