Restaurant Condo with
For Sale
$950,000
5-233 Cardinal Medeiros Ave, Cambridge, MA 02141
Built-out restaurant condo with commercial kitchen infrastructure, ADA restrooms, and seasonal patio seating.
Property Size1,600 SF
Price / SF$593.75
Days on Market20
Property Features for 5-233 Cardinal Medeiros Ave
General Information
Standard status
Active
Size
1,600 SF
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$8,831
Amenities
commercial kitchen infrastructure
55 indoor seats
16 patio seats
2 ADA bathrooms
furniture fixtures and equipment
Building Details
Tenancy
Single
Listing Agency:
Cameron Real Estate Group
(617) 504-4157
Listed By:
David Maker · License #009525221
(617) 504-4157
Source:
Exprealty
Added: Jul 20
Changed: Aug 2
Last Checked: Aug 8 at 8:28AM
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 Cameron Real Estate Group
Investment Insights
Based on property information with market context.
This 1,600-square-foot restaurant condominium at 5-233 Cardinal Medeiros Ave in Cambridge, MA occupies a corner-lot position and is configured for restaurant use. The interior includes commercial kitchen infrastructure, seating for 55 guests, and two ADA-compliant bathrooms. Furniture, fixtures, and equipment are included with the sale, providing an existing operational setup for a new concept.
The property also offers 16 seasonal patio seats, extending the seating arrangement beyond the indoor dining area. Located in the Kendall Square area, the space combines a built restaurant layout with a defined outdoor seating component and included FF&E.
The property also offers 16 seasonal patio seats, extending the seating arrangement beyond the indoor dining area. Located in the Kendall Square area, the space combines a built restaurant layout with a defined outdoor seating component and included FF&E.
Key Highlights
- 1,600 SF restaurant condominium at 5‑233 Cardinal Medeiros Ave, Cambridge, MA
- Corner‑lot commercial condo in the Kendall Square area
- Commercial kitchen infrastructure already in place
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
$35,268
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
3.71%
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%
$705,360
$705.4K
Cap Rate 7%
$503,829
$503.8K
Cap Rate 9%
$391,867
$391.9K
Market Conditions
NOI Build-Up for 1,600 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
$49.9K $31.20/SF
− Vacancy
−$2.9K −$1.81/SF
EGI
$47.0K $29.39/SF
− OpEx
−$11.8K −$7.35/SF
NOI
$35.3K $22.04/SF
Area
Cambridge, MA
Vacancy
5.80%
Lease Rate
$31.20 /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%
$705,360
Cap Rate 7%
$503,829
Cap Rate 9%
$391,867
Alternative Uses
Best Use
Specialty Retail
$503.8K
$440.9K – $587.8K
NOI $35,268 @ 7.0% cap · market cap 3.71%
Second Best
Retail
$448.8K
$392.7K – $523.6K
NOI $31,416 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,347 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,247
Businesses Nearby
269k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 28%
Shops & Services 21%
Dining 19%
Groceries 16%
Target
Superstores
74,182 visits/mo
0.4 miles
Star Market
Groceries
44,009 visits/mo
0.4 miles
McDonald's
Dining
43,928 visits/mo
0.5 miles
Marshalls
Apparel
25,730 visits/mo
0.4 miles
Dollar Tree
Shops & Services
24,950 visits/mo
0.3 miles
Demographics for 02141, MA
15,130
Population
8,128
Households
1.9
Avg Household Size
32
Median Age
74%
College-Educated
94%
High-School Grad
0.6 sq mi
ZIP Area
25,217
Density / Sq Mi
$120,542
Median Household Income
$73,002
Median Earnings
$2,752
Median Rent
$892,600
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 - Built-out restaurant condo with commercial kitchen infrastructure, ADA restrooms, and seasonal patio seating.
Where is this conventional restaurant located?
The property is located at 5-233 Cardinal Medeiros Ave Cambridge, 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: 1,600 SF restaurant condominium at 5‑233 Cardinal Medeiros Ave, Cambridge, MA; Corner‑lot commercial condo in the Kendall Square area; Commercial kitchen infrastructure already in place
