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

    197 North St Newton, MA 02460

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Operating restaurant for sale in Newton, Massachusetts.

    Property Features for 197 North St

    General Information

    Standard status
    Active

    Building Details

    Year built
    1955

    We can help!

    Listing Contact
    Raymond Andam
    Source: Corcoran

    Listing Agency: Weichert REALTORS®, Hope & Associates Listing Agent: Raymond Andam

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Established Restaurant Business For Sale

    An established operating restaurant, Tri City Wings Grill, is available for purchase in Newton, Massachusetts. The business features a clean kitchen and a welcoming dining area, supported by a strong local customer base. The sale includes all furniture, fixtures, and equipment. The space offers reasonable rent with flexibility for negotiation with the Landlord. This opportunity is suitable for operators intending to continue the current concept or introduce a new one.
    Location Intelligence

    Current Use by Public Records

    Tri-City Wings & Grill Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.2179393
    Latitude
    42.3656015

    Nearby Similar for Sale

    • New
      $1,750,000
      3,872 SF

      Newtonville Three-Family Investment Opportunity

      Well-maintained three-family property in Newtonville with development potential.
      184-186 Linwood Ave, Newton, MA 02460
      View Details
    • $3,916,000
      3,927 SF

      New Luxury Townhomes in Newton

      New construction luxury townhomes with customizable options, completion Spring 2027.
      25-27 High St, Newton, MA 02461
      View Details
    • $649,000
      1,962 SF

      Prime Commercial Condo with Parking

      Commercial condo in Newton with parking, ideal for owner-user.
      655 Saw Mill Brook Pkwy, Newton Centre, MA 02459
      View Details
    • Contact for pricing

      Newton Retail Investment Opportunity

      Fully occupied retail property near Newtonville MBTA station.
      823-833 Washington St, Newton, MA 02460
      View Details
    • New
      Contact for pricing
      1,315 SF

      Prime Commercial Condo in Newton

      Two-story commercial condo in vibrant Newton Centre village.
      21 Pelham St, Newton, MA 02459
      View Details
    • Contact for pricing

      Retail/Office Space on Elliot Street

      Versatile retail or office space with high visibility.
      2A Hale St, Newton, MA 02464
      View Details
    • Contact for pricing

      Turnkey Boba & Coffee Shop

      Established boba and coffee shop in Newton Centre for sale.
      212 Sumner St, Newton, MA 02459
      View Details
    • $1,100,000

      Two-Family Home in Newton

      Two-family home in a desirable Newton neighborhood.
      22-24 Emerald St, Newton, MA 02458
      View Details
    • Contact for pricing

      Established Dry Cleaner Business

      Long-established dry cleaner, laundry, and tailor business for sale.
      1 Confidential St, Newton, MA 02464
      View Details
    • $1,300,000

      Newton Corner Lot Investment Property

      Three residential units and one commercial space in Newton.
      158 Adams St, Newton, MA 02458
      View Details
    • Contact for pricing

      Two-Family Home in W Newton

      Charming two-family home in desirable W Newton location.
      17 Gilbert St, Newton, MA 02465
      View Details
    • Contact for pricing

      Newton Multifamily Home for Sale

      Multifamily home in Newton, MA, primed for updates.
      49 Hawthorn St, Newton, MA 02458
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Operating restaurant for sale in Newton, Massachusetts.
    Where is this conventional restaurant located?
    The property is located at 197 North St Newton, MA.
    What are key features of this property?
    This property features: - Established, operating restaurant business for sale.; - Fully equipped with **all furniture, fixtures, and equipment included.**; - Located in **desirable Newton, Massachusetts.**
    (508) 795-3885
    Request Owner's contact information
    197 North St Newton, MA 02460
    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.
    197 North St
    Newton, MA 02460
    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
    197 North St Newton, MA 02460
    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

    We can help!
    Listing Contact
    Raymond Andam
    (508) 795-3885
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!