Masonry Restaurant
For Sale
$1,999,000
460 Main Street Unit C1, Hyannis, MA 02601
Well-situated downtown masonry building with on-site parking, municipal utilities, and a 2016 renovation.
Property Size6,216 SF
Lot Size0.33 Acres
Price / SF$321.59
Days on Market296
Property Features for 460 Main Street Unit C1
General Information
Standard status
Active
Size
6,216 SF
Lot size
0.33 Acres
Property subtype
Commercial
Zoning
Downtown Main Street
Site & Location
Road Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1987
Year Renovated
2016
Construction
masonry
Listing Agency:
Commercial Realty Advisors,Inc.
Listed By:
Kevin Pepe
(800) 822-3422
Source:
Davenportrealty
Added: Oct 19, 2025
Changed: Aug 9
Last Checked: Aug 9 at 12:05PM
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 Commercial Realty Advisors,Inc.
Investment Insights
Based on property information with market context.
Offered for sale is a highly visible masonry commercial building totaling about 6,300 SF, built in 1987 and renovated in 2016. The property is positioned on roughly 10.33 acres and is described as being located within the Downtown Main Street zoning district and the Downtown Hyannis Growth Incentive Zone. The building is offered as real estate only; the operating business known as Fresh Ketch is not included.
The property is located in the heart of Downtown Hyannis on Main Street and is presented as benefiting from strong foot traffic and excellent frontage. It is also described as being near Hyannis Harbor, ferry terminals, hotels, retail, and year-round attractions.
Additional site attributes noted include municipal utilities, on-site parking, and established site infrastructure, supporting continued restaurant and hospitality use or other commercial repositioning.
The property is located in the heart of Downtown Hyannis on Main Street and is presented as benefiting from strong foot traffic and excellent frontage. It is also described as being near Hyannis Harbor, ferry terminals, hotels, retail, and year-round attractions.
Additional site attributes noted include municipal utilities, on-site parking, and established site infrastructure, supporting continued restaurant and hospitality use or other commercial repositioning.
Key Highlights
- 6,300 SF masonry commercial building in the heart of Downtown Hyannis on Main Street
- Located on 0.33 acres in the Downtown Main Street zoning district and the Downtown Hyannis Growth Incentive Zone
- Built in 1987 and renovated in 2016
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
$95,866
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
4.80%
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%
$1,917,320
$1.9M
Cap Rate 7%
$1,369,514
$1.4M
Cap Rate 9%
$1,065,178
$1.1M
Market Conditions
NOI Build-Up for 6,216 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
$134.3K $21.60/SF
− Vacancy
−$6.4K −$1.04/SF
EGI
$127.8K $20.56/SF
− OpEx
−$32.0K −$5.14/SF
NOI
$95.9K $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%
$1,917,320
Cap Rate 7%
$1,369,514
Cap Rate 9%
$1,065,178
Alternative Uses
Best Use
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $95,866 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.53M
$2.22M – $2.96M
NOI $177,314 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Balanced
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 - Well-situated downtown masonry building with on-site parking, municipal utilities, and a 2016 renovation.
Where is this conventional restaurant located?
The property is located at 460 Main Street Unit C1 Hyannis, MA.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: 6,300 SF masonry commercial building in the heart of Downtown Hyannis on Main Street; Located on 0.33 acres in the Downtown Main Street zoning district and the Downtown Hyannis Growth Incentive Zone; Built in 1987 and renovated in 2016
