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    Waterfront Property with Development Potential Title is generated by Realmo AI

    126 Route 28 Street, West Harwich, MA 02671

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    For Sale
    $2,795,000

    COMMERCIAL - West Harwich, MA

    Property size:
    7,922 SF
    Lot size:
    2.22 Acres
    Price / SF:
    $352/SF
    Added:
    Jun 9, 2025
    Days on Market:
    343
    Last Refresh:
    May 17 at 10:06 pm

    Property Features for 126 Route 28 Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    75
    Parking features
    Off Street, Open, Driveway
    Security features
    Security System
    Interior features
    High Speed Internet
    Appliances
    Water Heater
    Standard status
    Active
    APN
    11-B5-0
    Size
    7,922 SF
    Lot size
    2.22 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    7904

    Utilities

    Utilities
    Phone Available
    Heating system
    Forced Air, Electric (Heating)
    Water source
    Public
    Water front
    1

    Building Details

    Year built
    1842
    Floors in Building
    2
    Flooring type
    Concrete, Hardwood
    Building materials
    Wood Siding, Wood Frame, Clapboard, Shingle Siding
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Chris Manning

    Listing agent Chris Manning

    Listing office William Raveis Real Estate & Home Services 923 Route 6A, Unit BB/CC, Yarmouth Port, MA

    Listing date Jun 9, 2025

    MLS# 22502773

    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.

    HighLights

    • Waterfront property on 2.22 acres overlooking The Herring River with dockage potential and easy access to Nantucket Sound.
    • Main building features a 7,922 sq ft space with a large restaurant area (previous capacity of 375 persons), spacious commercial kitchen, and residential space.
    • Includes three additional buildings: a Backhouse with 7 bedrooms and 4 bathrooms, a Side Cottage with 4 bedrooms and 2 bathrooms, and a large storage shed.
    • Significant development potential for a water use business or a family compound.
    • Historical property with frontage and signage, offering a unique investment opportunity on Cape Cod.
    • Includes a Backhouse with living/dining rooms and a deck overlooking the Herring River.

    Overview

    This property is situated on over 2.22 acres of waterfront land overlooking The Herring River. The site features two landing areas with dockage potential, providing easy access to Nantucket Sound via the river for kayaks, paddleboards, canoes, and similar watercraft. The land includes four buildings totaling 11,900 square feet. The main building, spanning 7,922 square feet, features a large restaurant space, a spacious commercial kitchen area, three or four bedrooms, and five bathrooms. Municipal records indicate the previous restaurant had a capacity of approximately 375 persons. The Backhouse, located behind the main building, offers seven bedrooms, four bathrooms, living and dining rooms, and a deck overlooking the Herring River. The Side Cottage, situated to the left of the main house, includes four bedrooms and two bathrooms. Additionally, there is a large shed building at the rear of the property used for storage. The property's waterfront location, history, development potential, signage, and frontage present an opportunity for investment. It is suitable for a water-use business or a family compound. The property is to be sold as is. Buyer to verify all uses.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $1.76M
    NOI $158,743 @ 9.00% cap · cautious / downside scenario
    Moderate
    $2.27M
    NOI $158,743 @ 7.00% cap · market / base-case scenario
    Aggressive
    $3.17M
    NOI $158,743 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $297.6k $37.56
    − Vacancy −$8.9k −$1.13
    EGI $288.6k $36.43
    − OpEx −$129.9k −$16.39
    NOI $158.7k $20.04
    7,922 SF · lease $37.56/SF/yr · vacancy 3.00% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $2.27M
    $1.98M – $2.65M (±1% cap)
    NOI $158,743 @ 7.0% cap · market cap 5.68%
    Second Best
    Specialty Retail
    $1.75M
    $1.53M – $2.04M (±1% cap)
    NOI $122,176 @ 7.0% cap · market cap 4.37%
    Theoretical Best
    Office A
    $3.23M
    $2.82M – $3.77M (±1% cap)
    NOI $225,979 @ 7.0% cap · market cap 8.09%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Real Estate Agency Restaurant 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.

    Location Insight

    • Map
    • Local Demand
    City
    West Harwich
    County
    Barnstable
    State
    Massachusetts
    Longitude
    -70.1110861
    Latitude
    41.6693636

    FAQs

    What type of property is this?
    Conventional restaurant - 2.22-acre waterfront property with restaurant, cottage, and development potential.
    Where is this conventional restaurant located?
    The property is located at 126 Route 28 Street West Harwich, MA.
    What is the asking price?
    The asking price for this property is $2,795,000.
    What are key features of this property?
    This property features: Waterfront property on 2.22 acres overlooking The Herring River with dockage potential and easy access to Nantucket Sound.; Main building features a 7,922 sq ft space with a large restaurant area (previous capacity of 375 persons), spacious commercial kitchen, and residential space.; Includes three additional buildings: a Backhouse with 7 bedrooms and 4 bathrooms, a Side Cottage with 4 bedrooms and 2 bathrooms, and a large storage shed.
    (508) 360-8628
    We can help!
    Listing Contact
    Chris Manning
    Learn More
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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
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