Turnkey Corner Restaurant
For Sale
$950,000
233 Cardinal Medeiros Avenue Unit 5, Cambridge, MA 02141
Turnkey retail and restaurant condo with built-in commercial kitchen infrastructure and ADA-compliant bathrooms.
Property Size1,600 SF
Price / SF$593.75
Days on Market48
Property Features for 233 Cardinal Medeiros Avenue Unit 5
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Commercial
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$8,831
Building Details
Building Size
1,600 SF
Year Built
1900
Listing Agency:
Cameron Real Estate Group
Listed By:
David Maker · License #009525221
(978) 927-8700
Source:
Classifiedrealtygroup
Added: Jul 21
Changed: Sep 4
Last Checked: Sep 5 at 4:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cameron Real Estate Group
Investment Insights
Based on property information with market context.
This turnkey corner-unit retail and restaurant condo is fully built out and ready for its next concept. The space includes commercial kitchen infrastructure already in place, along with two ADA-compliant bathrooms to support guest accessibility.
Configured for customer service, the unit offers seating for 55 indoors and an additional 16 seasonal patio seats. All furniture, fixtures, and equipment (FF&E) are included with the sale, which can simplify transition for the next operator or buyer.
Set up as a commercial kitchen-ready environment inside a condominium format, this unit is offered for sale as a developed, operationally oriented space rather than raw shell condition.
Configured for customer service, the unit offers seating for 55 indoors and an additional 16 seasonal patio seats. All furniture, fixtures, and equipment (FF&E) are included with the sale, which can simplify transition for the next operator or buyer.
Set up as a commercial kitchen-ready environment inside a condominium format, this unit is offered for sale as a developed, operationally oriented space rather than raw shell condition.
Key Highlights
- 1,600 SF corner‑lot retail/restaurant condo with a built‑out layout at 233 Cardinal Medeiros Avenue
- Full commercial kitchen infrastructure in place for restaurant use
- Seating for 55 indoors plus 16 seasonal patio seats
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
$35,268
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
3.71%
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%
$705,360
$705.4K
Cap Rate 7%
$503,829
$503.8K
Cap Rate 9%
$391,867
$391.9K
Market Conditions
NOI Build-Up for 1,600 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
$49.9K $31.20/SF
− Vacancy
−$2.9K −$1.81/SF
EGI
$47.0K $29.39/SF
− OpEx
−$11.8K −$7.35/SF
NOI
$35.3K $22.04/SF
Area
Cambridge, MA
Vacancy
5.80%
Lease Rate
$31.20 /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%
$705,360
Cap Rate 7%
$503,829
Cap Rate 9%
$391,867
Alternative Uses
Best Use
Specialty Retail
$503.8K
$440.9K – $587.8K
NOI $35,268 @ 7.0% cap · market cap 3.71%
Second Best
Retail
$448.8K
$392.7K – $523.6K
NOI $31,416 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,347 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,426
Businesses Nearby
66k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Hotels & Casinos 34%
Dining 12%
Beauty & Spa 4%
Dollar Tree
Shops & Services
24,950 visits/mo
0.5 miles
Boston Marriott Cambridge
Hotels & Casinos
14,064 visits/mo
0.4 miles
Residence Inn Boston Cambridge
Hotels & Casinos
8,292 visits/mo
0.3 miles
Dunkin' Donuts
Dining
6,688 visits/mo
0.2 miles
Bank of America
Shops & Services
5,596 visits/mo
0.5 miles
Demographics for 02141, MA
15,130
Population
8,128
Households
1.9
Avg Household Size
32
Median Age
74%
College-Educated
94%
High-School Grad
0.6 sq mi
ZIP Area
25,217
Density / Sq Mi
$120,542
Median Household Income
$73,002
Median Earnings
$2,752
Median Rent
$892,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey retail and restaurant condo with built-in commercial kitchen infrastructure and ADA-compliant bathrooms.
Where is this conventional restaurant located?
The property is located at 233 Cardinal Medeiros Avenue Unit 5 Cambridge, MA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 1,600 SF corner‑lot retail/restaurant condo with a built‑out layout at 233 Cardinal Medeiros Avenue; Full commercial kitchen infrastructure in place for restaurant use; Seating for 55 indoors plus 16 seasonal patio seats
