Wellfleet Restaurant with Liquor
For Sale
$729,000
Pending
554 State Highway Route 6, Wellfleet, MA 02667
Turn-key 50-seat restaurant with outdoor patio and ample parking.
Property Size2,674 SF
Lot Size1.00 Acre
Days on Market892
Property Features for 554 State Highway Route 6
General Information
Standard status
Pending
Size
2,674 SF
Lot size
1.00 Acre
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,581
Amenities
Asphalt/Composition Shingles Roof
Building Details
Year Built
2006
Listing Agency:
Kinlin Grover Compass Commercial
(508) 240-0334
Listed By:
Nat Santoro · License #141467
Source:
Corcoran
Added: Feb 29, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:40AM
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 Kinlin Grover Compass Commercial
Investment Insights
Based on property information with market context.
This is a turn-key, contemporary, custom-built multi-level restaurant. Constructed 10 years ago, the restaurant has a seating capacity of 50. An elevator provides access between levels. The property includes a full year-round liquor license. A circular brick patio provides outdoor dining space. The property is situated on over an acre of land with ample parking. It has high visibility on Route 6 in Wellfleet. The property is intended for use as a restaurant.
Key Highlights
- Turn‑key, custom‑built restaurant ready for immediate operation.
- Full year‑round liquor license included.
- Ample parking on over an acre of land.
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
$41,239
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
5.66%
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%
$824,780
$824.8K
Cap Rate 7%
$589,129
$589.1K
Cap Rate 9%
$458,211
$458.2K
Market Conditions
NOI Build-Up for 2,674 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
$57.8K $21.60/SF
− Vacancy
−$2.8K −$1.04/SF
EGI
$55.0K $20.56/SF
− OpEx
−$13.7K −$5.14/SF
NOI
$41.2K $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%
$824,780
Cap Rate 7%
$589,129
Cap Rate 9%
$458,211
Alternative Uses
Best Use
Specialty Retail
$589.1K
$515.5K – $687.3K
NOI $41,239 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$953.5K – $1.27M
NOI $76,277 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02667, MA
3,309
Population
4,139
Households
0.8
Avg Household Size
60
Median Age
56%
College-Educated
99%
High-School Grad
16.9 sq mi
ZIP Area
196
Density / Sq Mi
$115,469
Median Household Income
$48,186
Median Earnings
$1,200
Median Rent
$760,000
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 - Turn-key 50-seat restaurant with outdoor patio and ample parking.
Where is this conventional restaurant located?
The property is located at 554 State Highway Route 6 Wellfleet, MA.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: Turn‑key, custom‑built restaurant ready for immediate operation.; Full year‑round liquor license included.; Ample parking on over an acre of land.
