Renovated Restaurant Condo with
For Sale
$699,000
247 Main Street, Hyannis, MA 02601
COMMERCIAL - Hyannis, MA
Property Size2,783 SF
Price / SF$251.17
Days on Market119
Property Features for 247 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
HVB
Basement
Finished
Appliances
Water Heater
Lot features
Level
Elementary school district
Barnstable
Middle school district
Barnstable
High school district
Barnstable
Directions
Main Street East End to 247 Main Street, Hyannis, Cape Cod, MA, USA
Subdivision
Barnstable
Standard status
Active
APN
HYAN M:327 L:24600A
Size
2,783 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4546
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Cooling system
Wall Unit(s), Central Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Flooring type
Vinyl, Tile, Hardwood
Building materials
Clapboard
Roof type
Flat
Listing Agency:
Premier Commercial
(508) 815-5700
Listed By:
John E Ciluzzi · License #8990
(508) 962-5033
Added: Apr 24
Changed: Aug 4
Last Checked: Aug 20 at 11:06AM
MLS# 22601713
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.
Completely renovated restaurant condo offering a licensed dining concept on multiple levels with a spacious commercial kitchen. The interior includes tile, hardwood, and vinyl flooring, with central air and wall unit(s) cooling. The roof is flat, and the building materials include clapboard construction. Utilities include phone availability. The unit is served by public water and public sewer.
The property is located on the east end of Main Street within the Business Improvement District of Hyannis. It is positioned near Sea Captains Row and close to 255 Main Street residential workforce developments, the USPO, shops, the Island Ferry Service and Transportation Center. A large deck overlooks Main Street and may be revitalized.
The condo is licensed for 72 seats, providing a straightforward footprint for a restaurateur seeking a new location within an active retail and transportation corridor.
The property is located on the east end of Main Street within the Business Improvement District of Hyannis. It is positioned near Sea Captains Row and close to 255 Main Street residential workforce developments, the USPO, shops, the Island Ferry Service and Transportation Center. A large deck overlooks Main Street and may be revitalized.
The condo is licensed for 72 seats, providing a straightforward footprint for a restaurateur seeking a new location within an active retail and transportation corridor.
Key Highlights
- Completely renovated multi‑level restaurant condo
- Licensed for 72 seats on multiple levels
- Spacious 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
$42,921
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
6.14%
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%
$858,420
$858.4K
Cap Rate 7%
$613,157
$613.2K
Cap Rate 9%
$476,900
$476.9K
Market Conditions
NOI Build-Up for 2,783 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
$60.1K $21.60/SF
− Vacancy
−$2.9K −$1.04/SF
EGI
$57.2K $20.56/SF
− OpEx
−$14.3K −$5.14/SF
NOI
$42.9K $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%
$858,420
Cap Rate 7%
$613,157
Cap Rate 9%
$476,900
Alternative Uses
Best Use
Specialty Retail
$613.2K
$536.5K – $715.4K
NOI $42,921 @ 7.0% cap · market cap 6.14%
Second Best
Industrial
$574.1K
$502.3K – $669.8K
NOI $40,185 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$1.13M
$992.3K – $1.32M
NOI $79,386 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,071
Businesses Nearby
29k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Hotels & Casinos 19%
Home Improvements & Furnishings 19%
Dining 6%
Speedway
Shops & Services
12,957 visits/mo
0.4 miles
Bradford's Hardware
Home Improvements & Furnishings
4,862 visits/mo
0.1 miles
DoubleTree by Hilton Hotel Cape Cod - Hyannis
Hotels & Casinos
3,133 visits/mo
0.5 miles
Comfort Inn
Hotels & Casinos
1,512 visits/mo
0.1 miles
Boost Mobile
Electronics
1,209 visits/mo
0.4 miles
Demographics for 02601, MA
16,487
Population
9,077
Households
1.8
Avg Household Size
43
Median Age
28%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
1,874
Density / Sq Mi
$62,989
Median Household Income
$36,183
Median Earnings
$1,629
Median Rent
$408,800
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 - Completely renovated, multi-level restaurant condo with a commercial kitchen, central air, and a Main Street deck.
Where is this conventional restaurant located?
The property is located at 247 Main Street Hyannis, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Completely renovated multi‑level restaurant condo; Licensed for 72 seats on multiple levels; Spacious commercial kitchen
