Flexible Conventional Restaurant
For Sale
$1,300,000
499 State Rd, Plymouth, MA 02360
Restaurant building with commercial kitchen, offices, and two ADA-accessible restrooms.
Property Size2,015 SF
Lot Size0.78 Acres
Price / SF$301.48
Days on Market10
Property Features for 499 State Rd
General Information
Standard status
Active
Size
2,015 SF
Total Parking Spaces
48
Lot size
0.78 Acres
Property subtype
Commercial
Zoning
RST/Bar
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Seating Capacity
28
Amenities
commercial kitchen
walk-in refrigeration
open dining area
deli/prep kitchen
retail space
ADA-accessible restrooms
second floor offices
3-phase electrical system
propane heat
updated plumbing
newer flooring
modern interior finishes
Building Details
Building Size
2,015 SF
Year Built
2015
Buildings
1
Stories
2
Construction
steel-frame
Tenancy
Single
Listing Agency:
Frank Smith Real Estate, Inc.
(508) 207-5611
Listed By:
Jennifer A. Preston · License #452508574
(508) 207-5611
Source:
Iverty
Added: Aug 21
Changed: Aug 30
Last Checked: Aug 30 at 6:21AM
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 Frank Smith Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 4,312± square-foot steel-frame restaurant property occupies a .78-acre lot and supports multiple commercial configurations. The main level includes a fully equipped commercial kitchen with walk-in refrigeration, a separate deli and prep kitchen, dining space for approximately 28 guests, retail area, and two ADA-accessible restrooms. Upstairs, two offices and an additional ¾ bathroom provide dedicated administrative space. The building was rebuilt between 2015 and 2018 and includes 3-phase electrical service, propane heat, updated plumbing, newer flooring, and modern interior finishes.
The property is positioned along State Road, also identified as Route 3A, in Plymouth, Massachusetts. Approximately 48 parking spaces serve the building, and the site is within the RST/Bar zoning district. Its layout allows operation as one larger commercial space or division for two retail tenants, subject to applicable requirements.
The property is positioned along State Road, also identified as Route 3A, in Plymouth, Massachusetts. Approximately 48 parking spaces serve the building, and the site is within the RST/Bar zoning district. Its layout allows operation as one larger commercial space or division for two retail tenants, subject to applicable requirements.
Key Highlights
- 4,312± sq. ft. steel‑frame building on a .78‑acre lot
- Fully equipped commercial kitchen with walk‑in refrigeration and separate deli/prep kitchen
- Dining area with seating for approximately 28 guests
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
$79,704
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
6.13%
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%
$1,594,080
$1.6M
Cap Rate 7%
$1,138,629
$1.1M
Cap Rate 9%
$885,600
$885.6K
Market Conditions
NOI Build-Up for 4,312 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
$108.7K $25.20/SF
− Vacancy
−$2.4K −$0.55/SF
EGI
$106.3K $24.65/SF
− OpEx
−$26.6K −$6.16/SF
NOI
$79.7K $18.48/SF
Area
Plymouth County, MA
Vacancy
2.20%
Lease Rate
$25.20 /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%
$1,594,080
Cap Rate 7%
$1,138,629
Cap Rate 9%
$885,600
Alternative Uses
Best Use
Specialty Retail
$1.14M
$996.3K – $1.33M
NOI $79,704 @ 7.0% cap · market cap 6.13%
Second Best
Retail
$1.01M
$885.6K – $1.18M
NOI $70,848 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$2.55M
$2.23M – $2.98M
NOI $178,688 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02360, MA
61,134
Population
28,598
Households
2.1
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
96.4 sq mi
ZIP Area
634
Density / Sq Mi
$111,975
Median Household Income
$55,595
Median Earnings
$1,831
Median Rent
$494,700
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 building with commercial kitchen, offices, and two ADA-accessible restrooms.
Where is this conventional restaurant located?
The property is located at 499 State Rd Plymouth, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 4,312± sq. ft. steel‑frame building on a .78‑acre lot; Fully equipped commercial kitchen with walk‑in refrigeration and separate deli/prep kitchen; Dining area with seating for approximately 28 guests
