Turnkey Historic Bed &
For Sale
$2,795,000
1861 Main Street, Brewster, MA 02631
COMMERCIAL - Brewster, MA
Property Size7,922 SF
Lot Size1.24 Acres
Price / SF$352.81
Days on Market481
Property Features for 1861 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
RM
Parking features
Guest, Parking Lot
Interior features
High Speed Internet
Appliances
Water Heater
Lot features
Corner Lot
Elementary school district
Nauset
Middle school district
Nauset
High school district
Nauset
Directions
Route 6A towards Brewster, Inn is on the right #1861 across from the Brewster Baptist Church
Subdivision
Brewster
Standard status
Active
APN
57-47-0
Size
7,922 SF
Lot size
1.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9694
Utilities
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1860
Floors in Building
3
Flooring type
Hardwood, Tile, Wood
Building materials
Clapboard
Roof type
Wood
Listing Agency:
Gibson Sotheby's International Realty
(508) 255-6000
Listed By:
The Eva Scott Group
(508) 776-9231
Added: May 12, 2025
Changed: Aug 4
Last Checked: Sep 4 at 8:06PM
MLS# 22502228
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.
The Old Manse Inn is a historic Sea Captain’s manor offering a turnkey bed and breakfast with 12 uniquely decorated guest rooms, each with a private en-suite bath. The property also includes three common areas for guests and a dedicated dining room, supported by a fully equipped commercial kitchen for breakfast service and private events. Additional improvements include spacious owner’s quarters and dedicated employee housing. The inn is offered as an operating business with steadily increasing annual revenue and a sterling reputation, with approximately 7,922 square feet of building area on 1.24 acres.
Located in Brewster, Massachusetts on Main Street, the property is described as being just minutes from Cape Cod Bay, rail trails, and Brewster’s village center. The seller welcomes offers with requests for buyer concessions.
Located in Brewster, Massachusetts on Main Street, the property is described as being just minutes from Cape Cod Bay, rail trails, and Brewster’s village center. The seller welcomes offers with requests for buyer concessions.
Key Highlights
- Historic Sea Captain’s manor built in 1860, operated as the Old Manse Inn Bed & Breakfast
- 12 uniquely decorated guest rooms, each with a private en‑suite bath
- Common areas include a dedicated dining room and a fully equipped 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
$99,342
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
3.55%
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%
$1,986,840
$2.0M
Cap Rate 7%
$1,419,171
$1.4M
Cap Rate 9%
$1,103,800
$1.1M
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
$237.7K $30.00/SF
− Vacancy
−$28.5K −$3.60/SF
EGI
$209.1K $26.40/SF
− OpEx
−$109.8K −$13.86/SF
NOI
$99.3K $12.54/SF
Area
Barnstable County, MA
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
52.50%
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%
$1,986,840
Cap Rate 7%
$1,419,171
Cap Rate 9%
$1,103,800
Alternative Uses
Best Use
Hotel Hospitality
$1.42M
$1.24M – $1.66M
NOI $99,342 @ 7.0% cap · market cap 3.55%
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
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02631, MA
10,178
Population
8,215
Households
1.2
Avg Household Size
58
Median Age
52%
College-Educated
98%
High-School Grad
22.2 sq mi
ZIP Area
458
Density / Sq Mi
$93,427
Median Household Income
$47,395
Median Earnings
$1,386
Median Rent
$621,800
Median Home Value
Questions? Ask Rey
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Similar Off Market Nearby
- Old Manse Inn — 1861 Main St, Brewster, MA 02631
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- Brewster park club — 123 Center St, Brewster, MA 02631
- Spinnaker Restaurant — 2019 Main St, Brewster, MA 02631
- Ocean Edge Villages — 81 governor prence rd, brewster, ma 02631
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Turnkey inn with 12 en-suite guest rooms, dedicated dining room, and a fully equipped commercial kitchen.
Where is this bed & breakfast located?
The property is located at 1861 Main Street Brewster, 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: Historic Sea Captain’s manor built in 1860, operated as the Old Manse Inn Bed & Breakfast; 12 uniquely decorated guest rooms, each with a private en‑suite bath; Common areas include a dedicated dining room and a fully equipped commercial kitchen
