Restaurant Building With
For Sale
$664,000
3381 Province Lake Rd, Wakefield, NH 03830
Business/commercial zoning supports the existing restaurant layout with two dining rooms, a substantial bar area, and an outdoor patio.
Property Size4,670 SF
Price / SF$142.18
Days on Market40
Property Features for 3381 Province Lake Rd
General Information
Standard status
Active
Size
4,670 SF
Restaurant
Patio
Yes
Equipment Included
No
Building Details
Year Built
1984
Buildings
1
Abandoned
No
Listing Agency:
Hayes Real Estate
(603) 387-5801
Listed By:
Dino Scala
Source:
Lyvrealty
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 28 at 12:47PM
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 Hayes Real Estate
Investment Insights
Based on property information with market context.
This restaurant property includes the building and land at 3381 Province Lake Rd. The 4,670-square-foot facility was built in 1984 and is arranged with two dining rooms, a 44 x 22 ft bar area, and an outdoor patio positioned near the bar. The bar seats over 35 people and provides a dedicated setting for dining, beverages, and hosted entertainment.
The property is zoned business/commercial and is situated in Wakefield’s lakes region. The location serves as an established restaurant setting with seasonal activity tied to both summer lake visitors and winter snowmobile traffic. The offering is limited to the real estate; the operating business and equipment are not included.
The property is zoned business/commercial and is situated in Wakefield’s lakes region. The location serves as an established restaurant setting with seasonal activity tied to both summer lake visitors and winter snowmobile traffic. The offering is limited to the real estate; the operating business and equipment are not included.
Key Highlights
- 4,670‑square‑foot restaurant property with building and land included
- Two dining rooms provide multiple customer seating areas
- 44 x 22 ft bar area seats over 35 people
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
$59,262
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
8.92%
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%
$1,185,240
$1.2M
Cap Rate 7%
$846,600
$846.6K
Cap Rate 9%
$658,467
$658.5K
Market Conditions
NOI Build-Up for 4,670 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
$84.1K $18.00/SF
− Vacancy
−$5.0K −$1.08/SF
EGI
$79.0K $16.92/SF
− OpEx
−$19.8K −$4.23/SF
NOI
$59.3K $12.69/SF
Area
Carroll County, NH
Vacancy
6.00%
Lease Rate
$18.00 /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%
$1,185,240
Cap Rate 7%
$846,600
Cap Rate 9%
$658,467
Alternative Uses
Best Use
Specialty Retail
$846.6K
$740.8K – $987.7K
NOI $59,262 @ 7.0% cap · market cap 8.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,626 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03830, NH
1,611
Population
1,523
Households
1.1
Avg Household Size
54
Median Age
13%
College-Educated
95%
High-School Grad
9.5 sq mi
ZIP Area
170
Density / Sq Mi
$68,304
Median Household Income
$45,519
Median Earnings
$313,200
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 - Business/commercial zoning supports the existing restaurant layout with two dining rooms, a substantial bar area, and an outdoor patio.
Where is this conventional restaurant located?
The property is located at 3381 Province Lake Rd Wakefield, NH.
What is the asking price?
The asking price for this property is $664,000.
What are key features of this property?
This property features: 4,670‑square‑foot restaurant property with building and land included; Two dining rooms provide multiple customer seating areas; 44 x 22 ft bar area seats over 35 people
