Conventional Restaurant with
New
For Sale
$950,000
2653 Main Street, Chatham, MA 02633
Commercial Sale, Chatham, MA
Property Size2,252 SF
Lot Size0.22 Acres
Price / SF$421.85
Days on Market1
Property Features for 2653 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
S.Chat
Appliances
Water Heater
Elementary school district
Monomoy
Middle school district
Monomoy
High school district
Monomoy
Subdivision
Chatham
Standard status
Active
APN
CHAT M:3C B:16 L:2-0
Size
2,252 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2235
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1860
Floors in Building
2
Flooring type
Wood, Carpet
Building materials
Clapboard
Roof type
Composition, Asphalt
Listing Agency:
Commercial Realty Advisors, Inc.
(508) 862-9000
Listed By:
Kevin Pepe
(508) 962-5022
Added: Sep 4
Last Checked: Sep 4 at 4:06PM
MLS# 22604441
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.
This 2,252-square-foot property combines a full-service restaurant and bar with a commercial kitchen, creating an integrated food-service operation. The improvements also include a second-floor apartment and an attached residential cottage, providing a mixed-use configuration within the same property. Construction dates to 1860, with clapboard siding, wood and carpet flooring, natural-gas forced-air heat, wall-unit cooling, a composition and asphalt roof, public water, and septic service.
The property occupies 0.22 acres along Route 28 at 2653 Main Street in South Chatham, Chatham, Massachusetts. Its combination of restaurant, bar, kitchen, and residential components offers a clearly defined mixed-use layout within one building arrangement.
The property occupies 0.22 acres along Route 28 at 2653 Main Street in South Chatham, Chatham, Massachusetts. Its combination of restaurant, bar, kitchen, and residential components offers a clearly defined mixed-use layout within one building arrangement.
Key Highlights
- Full‑service restaurant and bar with commercial kitchen
- 2,252 square feet of property improvements
- Second‑floor apartment included
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
Industrial
$464.5K
$406.5K – $542.0K
NOI $32,518 @ 7.0% cap · market cap 3.42%
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
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02633, MA
4,664
Population
5,425
Households
0.9
Avg Household Size
62
Median Age
65%
College-Educated
99%
High-School Grad
8.6 sq mi
ZIP Area
542
Density / Sq Mi
$94,036
Median Household Income
$50,038
Median Earnings
$1,005
Median Rent
$881,400
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 - Restaurant property includes a commercial kitchen and attached residential components.
Where is this conventional restaurant located?
The property is located at 2653 Main Street 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: Full‑service restaurant and bar with commercial kitchen; 2,252 square feet of property improvements; Second‑floor apartment included
