Seasonal Restaurant with
For Sale
$950,000
2653 Main St Chatham, South Chatham, MA 02659
Seasonal restaurant property with two apartments and a full seasonal liquor license.
Property Size2,252 SF
Price / SF$421.85
Days on Market89
Property Features for 2653 Main St Chatham
General Information
Standard status
Active
Size
2,252 SF
Zoning
S.CHAT
Additional Details
Business Included
Yes
Seating Capacity
42
Taxes and HOA fees
Annual Taxes
$2,236
Amenities
valet parking
Building Details
Building Size
2,252 SF
Year Built
1860
Listing Agency:
William Raveis Real Estate & Home Services
(508) 643-8166
Listed By:
Amanda Lucido Hodges · License #MA 9518180
(508) 643-8166
Source:
Bournetosellrealestate
Added: Jun 4
Changed: Aug 30
Last Checked: Aug 31 at 1:18PM
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 William Raveis Real Estate & Home Services
Investment Insights
Based on property information with market context.
This offering combines a seasonal restaurant business with the underlying real estate in a building constructed in 1860. The dining operation is licensed for 42 seats and includes a full seasonal liquor license, while complimentary valet parking supports guest access. The property is zoned S.CHAT.
On-site residential accommodations include a two-bedroom apartment and a studio apartment. These spaces may support owner occupancy, rental use, or staff housing, as expressly contemplated for the property. The restaurant has operated for 25 years and is located less than 3/4 of a mile from the beach.
On-site residential accommodations include a two-bedroom apartment and a studio apartment. These spaces may support owner occupancy, rental use, or staff housing, as expressly contemplated for the property. The restaurant has operated for 25 years and is located less than 3/4 of a mile from the beach.
Key Highlights
- Restaurant business and real estate offered together
- Licensed for 42 seats with a full seasonal liquor license
- Two‑bedroom apartment and separate studio apartment on site
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
$34,731
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
3.66%
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%
$694,620
$694.6K
Cap Rate 7%
$496,157
$496.2K
Cap Rate 9%
$385,900
$385.9K
Market Conditions
NOI Build-Up for 2,252 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
$48.6K $21.60/SF
− Vacancy
−$2.3K −$1.04/SF
EGI
$46.3K $20.56/SF
− OpEx
−$11.6K −$5.14/SF
NOI
$34.7K $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%
$694,620
Cap Rate 7%
$496,157
Cap Rate 9%
$385,900
Alternative Uses
Best Use
Specialty Retail
$496.2K
$434.1K – $578.9K
NOI $34,731 @ 7.0% cap · market cap 3.66%
Second Best
Mixed Use
$448.8K
$392.7K – $523.6K
NOI $31,415 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$917.7K
$803.0K – $1.07M
NOI $64,239 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 02659, MA
1,100
Population
1,187
Households
0.9
Avg Household Size
60
Median Age
62%
College-Educated
98%
High-School Grad
2.0 sq mi
ZIP Area
550
Density / Sq Mi
$87,368
Median Household Income
$62,578
Median Earnings
$1,232
Median Rent
$650,400
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 - Seasonal restaurant property with two apartments and a full seasonal liquor license.
Where is this conventional restaurant located?
The property is located at 2653 Main St Chatham South Chatham, 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: Restaurant business and real estate offered together; Licensed for 42 seats with a full seasonal liquor license; Two‑bedroom apartment and separate studio apartment on site
