Waterfront Restaurant
For Sale
$2,795,000
126 Route 28 Street, West Harwich, MA 02671
Commercial Sale, West Harwich, MA
Property Size7,922 SF
Lot Size2.22 Acres
Price / SF$352.81
Days on Market454
Property Features for 126 Route 28 Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
0310
Parking
75
Parking features
Off Street, Driveway, Open
Security features
Security System
Interior features
High Speed Internet
Appliances
Water Heater
Lot features
Gentle Sloping, Stream
View
River
Elementary school district
Monomoy
Middle school district
Monomoy
High school district
Monomoy
Directions
126 Route 28 West Harwich , MA
Subdivision
Harwich
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
Listing Agency:
William Raveis Real Estate & Home Services
(774) 994-8082
Listed By:
Chris Manning
(508) 360-8628
Added: Jun 9, 2025
Changed: Sep 3
Last Checked: Sep 5 at 2:06AM
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.
Investment Insights
Based on property information with market context.
Set on 2.22 acres along the Herring River, this property includes four buildings totaling 11,900 square feet. The 7,922-square-foot main building contains a former restaurant area, commercial kitchen, three or four bedrooms, and five bathrooms. Municipal records indicate the prior restaurant accommodated around 375 people. A separate back building adds seven bedrooms, four bathrooms, living and dining rooms, and a river-facing deck. The side cottage includes four bedrooms and two bathrooms, while a large rear shed provides storage.
Two landing areas are positioned along the waterfront, with potential for dockage. The river provides a route toward Nantucket Sound for kayaks, paddle boards, canoes, and similar watercraft. The property also offers off-street parking, public water, phone availability, and wood-frame construction dating to 1842. It is offered as-is, and buyers are to verify all uses.
Two landing areas are positioned along the waterfront, with potential for dockage. The river provides a route toward Nantucket Sound for kayaks, paddle boards, canoes, and similar watercraft. The property also offers off-street parking, public water, phone availability, and wood-frame construction dating to 1842. It is offered as-is, and buyers are to verify all uses.
Key Highlights
- 2.22‑acre waterfront property overlooking the Herring River
- Four buildings totaling 11,900 SF
- 7,922 SF main building with former restaurant area and commercial kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$122,176
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,443,520
$2.4M
Cap Rate 7%
$1,745,371
$1.7M
Cap Rate 9%
$1,357,511
$1.4M
Market Conditions
NOI Build-Up for 7,922 SF
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.
Gross rent
$171.1K $21.60/SF
− Vacancy
−$8.2K −$1.04/SF
EGI
$162.9K $20.56/SF
− OpEx
−$40.7K −$5.14/SF
NOI
$122.2K $15.42/SF
Area
Barnstable County, MA
Vacancy
4.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,443,520
Cap Rate 7%
$1,745,371
Cap Rate 9%
$1,357,511
Alternative Uses
Best Use
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,176 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.23M
$2.82M – $3.77M
NOI $225,979 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
2k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Domino's Pizza
Dining
2,003 visits/mo
0.4 miles
Demographics for 02671, MA
1,216
Population
1,430
Households
0.9
Avg Household Size
60
Median Age
56%
College-Educated
98%
High-School Grad
1.7 sq mi
ZIP Area
715
Density / Sq Mi
$101,917
Median Household Income
$50,800
Median Earnings
$593,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Multiple buildings combine former dining, residential, kitchen, and storage spaces beside the Herring River.
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: 2.22‑acre waterfront property overlooking the Herring River; Four buildings totaling 11,900 SF; 7,922 SF main building with former restaurant area and commercial kitchen
