Restaurant with Outdoor
New
For Sale
$825,000
65 School St, Pembroke, MA 02359
Business A zoning supports hospitality, retail, professional office, and service-oriented uses.
Property Size5,189 SF
Lot Size1.25 Acres
Price / SF$329.34
Days on Market1
Property Features for 65 School St
General Information
Standard status
Active
Size
5,189 SF
Lot size
1.25 Acres
Property subtype
Commercial
Zoning
Com, Legal Conforming
Restaurant
Patio
Yes
Liquor License
Yes
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,547
Building Details
Building Size
5,189 SF
Year Built
1967
Buildings
1
Listing Agency:
Fathom Realty MA
(888) 455-6040
Listed By:
Scott Thompson
(774) 826-6553
Source:
Liongatere
Added: Sep 5
Last Checked: Apr 25 at 8:23AM
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 Fathom Realty MA
Investment Insights
Based on property information with market context.
The property includes a 2,505-square-foot restaurant structure built in 1967 on more than 1.25 acres. The existing operation, The Somewhere Else Tavern, includes an indoor music license, a full liquor license, seating for 80 inside, and outdoor seating authorization for 70 patrons.
Business A zoning supports continued hospitality use as well as potential retail, professional office, and service-oriented applications. The property is near Route 3 and is surrounded by businesses and residential neighborhoods in Pembroke, Massachusetts, providing access to established commercial and residential areas.
Business A zoning supports continued hospitality use as well as potential retail, professional office, and service-oriented applications. The property is near Route 3 and is surrounded by businesses and residential neighborhoods in Pembroke, Massachusetts, providing access to established commercial and residential areas.
Key Highlights
- 2,505‑square‑foot restaurant structure built in 1967
- More than 1.25 acres in Pembroke, MA
- Indoor seating capacity of 80
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
$46,303
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
5.61%
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%
$926,060
$926.1K
Cap Rate 7%
$661,471
$661.5K
Cap Rate 9%
$514,478
$514.5K
Market Conditions
NOI Build-Up for 2,505 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
$63.1K $25.20/SF
− Vacancy
−$1.4K −$0.55/SF
EGI
$61.7K $24.65/SF
− OpEx
−$15.4K −$6.16/SF
NOI
$46.3K $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%
$926,060
Cap Rate 7%
$661,471
Cap Rate 9%
$514,478
Alternative Uses
Best Use
Specialty Retail
$661.5K
$578.8K – $771.7K
NOI $46,303 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,807 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
8k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Cumberland Farms
Shops & Services
8,011 visits/mo
0.3 miles
Demographics for 02359, MA
18,361
Population
7,173
Households
2.6
Avg Household Size
43
Median Age
46%
College-Educated
97%
High-School Grad
21.8 sq mi
ZIP Area
842
Density / Sq Mi
$141,332
Median Household Income
$69,860
Median Earnings
$2,413
Median Rent
$550,300
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 - Business A zoning supports hospitality, retail, professional office, and service-oriented uses.
Where is this conventional restaurant located?
The property is located at 65 School St Pembroke, MA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 2,505‑square‑foot restaurant structure built in 1967; More than 1.25 acres in Pembroke, MA; Indoor seating capacity of 80
