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    The Largest CRE Database in the US with Over 1 Million Listings

    615 Main St Hyannis, MA 02601

    Sponsored
    For Sale
    $685,000

    Prime location, 3,024 SF, multi-use.

    Property size:
    3,024 SF

    Description

    Added:
    Dec 26, 2024
    Days on Market:
    401
    This exceptional 3,024 square foot flex condo unit presents a unique investment opportunity in a highly desirable Hyannis location at 615 Main Street, zip code 02601, Massachusetts. The property boasts a spacious 2,228 square foot net usable area, situated on a 0.0694 acre lot. Its flexible zoning allows for a variety of uses, including retail, office, restaurant, art gallery, and more, making it an ideal space for a diverse range of businesses. Previously occupied by a Harley Davidson store, this unit benefits from heavy foot traffic and an open floor plan that maximizes natural light. The asking price is $685,000. The seller is motivated and open to lease options. Potential buyers are responsible for verifying all information and confirming permitted uses with the town of Hyannis. This is a rare chance to acquire a prime commercial space in a thriving Massachusetts location. The property is offered as an owner-user investment.

    Property Features for 615 Main St

    General Information

    Property type
    Individual retail properties
    Investment Type
    owner-user
    Square Feet
    3,024 SF
    Price / Square Foot
    $226
    Class
    B
    Elevators
    N/A
    Net Rentable
    2,228 SF
    Lot Size
    3,024 SF

    Building Details

    Year Built
    1930
    Buildings
    1
    Stories
    1
    Units
    1

    We can help!

    Listing Contact
    Sofia Naoom

    Learn more

    HighLights

    • Prime Main Street Hyannis location, offering high foot traffic.
    • Versatile 3,024 sq ft space, ideal for various uses.
    • Previously housed a Harley Davidson store; open floor plan with abundant natural light.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail properties

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Clothing Store Nail Salon Hotel & Motel

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

    Location Insight

    City
    Hyannis
    State
    Massachusetts

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    FAQs

    What type of property is this?
    Individual retail property - Prime location, 3,024 SF, multi-use.
    Where is this individual retail property located?
    The property is located at 615 Main St Hyannis, MA.
    What is the asking price?
    The asking price for this property is $685,000.
    What are key features of this property?
    This property features: Prime Main Street Hyannis location, offering high foot traffic.; Versatile 3,024 sq ft space, ideal for various uses.; Previously housed a Harley Davidson store; open floor plan with abundant natural light.
    (774) 930-4180
    Request Owner's contact information
    615 Main St Hyannis, MA 02601
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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
    615 Main St Hyannis, MA 02601
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    We can help!
    Listing Contact
    Sofia Naoom
    (774) 930-4180
    Learn more
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