Multi-Level Restaurant with
For Sale
$729,000
Pending
554 State Rte 6 Highway, Wellfleet, MA 02667
COMMERCIAL - Wellfleet, MA
Property Size2,674 SF
Lot Size1.18 Acres
Days on Market3729
Property Features for 554 State Rte 6 Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
R40
Parking
40
Parking features
Parking Lot
Basement
Full
Elementary school district
Nauset
Middle school district
Nauset
High school district
Nauset
Directions
Route 6 Wellfleet on the east side.
Subdivision
Wellfleet
Standard status
Pending
APN
42-37-0
Size
2,674 SF
Lot size
1.18 Acres
Taxes and HOA fees
Tax Year
2016
Tax Annual Amount
4580
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Well
Amenities
elevator
Building Details
Year built
2006
Floors in Building
2
Number of units
1
Flooring type
Tile, Hardwood, Carpet
Building materials
Wood Frame, Shingle Siding
Roof type
Asphalt
Listing Agency:
Kinlin Grover Compass
(508) 240-0334
Listed By:
Nat S Santoro · License #141467
(508) 274-0509
Added: Jun 5, 2016
Changed: Aug 11
Last Checked: Aug 20 at 5:06PM
MLS# 21605142
Copyright © 2026 Cape Cod & Islands Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Turn-key contemporary multi-level restaurant built in 2006, offering seating for 50 and served by an on-site elevator. The building features tile, carpet, and hardwood flooring, forced-air heating with natural gas, and central air conditioning. The property includes a circular brick patio for outdoor dining and is permitted with a full year-round liquor license.
Located on State Route 6 in Wellfleet, the restaurant benefits from strong roadway visibility. Ample on-site parking is available in a parking lot on 1.18 acres.
Operational basics are supported with a well water source and a septic tank sewer system. Exterior materials include wood frame construction and shingle siding, with an asphalt roof.
Located on State Route 6 in Wellfleet, the restaurant benefits from strong roadway visibility. Ample on-site parking is available in a parking lot on 1.18 acres.
Operational basics are supported with a well water source and a septic tank sewer system. Exterior materials include wood frame construction and shingle siding, with an asphalt roof.
Key Highlights
- 50‑seat multi‑level restaurant built in 2006 with an on‑site elevator
- Full year‑round liquor license
- Circular brick patio for outdoor dining
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
36
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, 10-year-old multi-level restaurant with central air and natural gas forced-air heat, plus a circular brick patio.
Where is this conventional restaurant located?
The property is located at 554 State Rte 6 Highway 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: 50‑seat multi‑level restaurant built in 2006 with an on‑site elevator; Full year‑round liquor license; Circular brick patio for outdoor dining
