Renovated Licensed Restaurant
For Sale
$699,000
247 Main Street #UNIT 6, Barnstable, MA 02601
Completely renovated, 72-seat multi-level restaurant condo with spacious kitchen and Main Street deck.
Property Size2,783 SF
Price / SF$251.17
Days on Market55
Property Features for 247 Main Street #UNIT 6
General Information
Standard status
Active
Size
2,783 SF
Zoning
HVB
Additional Details
Business Included
Yes
Commercial Hood
Yes
Taxes and HOA fees
Annual Taxes
$4,546
Building Details
Building Size
2,783 SF
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
Premier Commercial
(508) 962-5033
Listed By:
John E Ciluzzi · License #8990
(508) 962-5033
Source:
Laerrealty
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 29 at 6:15AM
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 Premier Commercial
Investment Insights
Based on property information with market context.
Completely renovated restaurant condo in the Business Improvement District of the Hyannis Market, now available for sale. The space is licensed for 72 seats across multiple levels and includes a spacious commercial kitchen designed to support full-service operations. A large deck overlooking Main Street is part of the offering and may be revitalized.
The property is located on the East End of Main Street and is described as being in close proximity to Sea Captains Row and the 255 Main Street residential workforce developments. It is also near the USPO, shops, and the island ferry service and transportation center, placing it within an active retail and transit-oriented setting.
For restaurateurs seeking a new location or relocation, the combination of an existing licensed capacity, a fully renovated interior, and a commercial kitchen can help streamline the transition to operating a restaurant. The multi-level layout accommodates dining on more than one floor, while the Main Street-facing deck offers an additional outdoor option. Additional residential condo may be available for interested parties, and seller financing may be available for qualified buyers.
The property is located on the East End of Main Street and is described as being in close proximity to Sea Captains Row and the 255 Main Street residential workforce developments. It is also near the USPO, shops, and the island ferry service and transportation center, placing it within an active retail and transit-oriented setting.
For restaurateurs seeking a new location or relocation, the combination of an existing licensed capacity, a fully renovated interior, and a commercial kitchen can help streamline the transition to operating a restaurant. The multi-level layout accommodates dining on more than one floor, while the Main Street-facing deck offers an additional outdoor option. Additional residential condo may be available for interested parties, and seller financing may be available for qualified buyers.
Key Highlights
- Completely renovated restaurant condo licensed for 72 seats on multiple levels
- Spacious commercial kitchen included
- Large deck overlooking Main Street; may be revitalized
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
—
—
no second resolved use
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
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Completely renovated, 72-seat multi-level restaurant condo with spacious kitchen and Main Street deck.
Where is this conventional restaurant located?
The property is located at 247 Main Street #UNIT 6 Barnstable, 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 restaurant condo licensed for 72 seats on multiple levels; Spacious commercial kitchen included; Large deck overlooking Main Street; may be revitalized
