Restaurant with Outdoor
For Sale
$749,900
65 School St, Pembroke, MA 02359
Commercial Sale, Pembroke, MA
Property Size2,505 SF
Lot Size1.28 Acres
Price / SF$299.36
Days on Market34
Property Features for 65 School St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Business A
Zoning description
Legal Conforming
Directions
Please Kindly Use GPS
Standard status
Active
APN
M:00A5 L:0033,1105421
Lot size
1.28 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8186
Building Details
Year built
1967
Listing Agency:
Keller Williams South Watuppa · Keller Williams Realty
(508) 677-3233
Listed By:
Clifford Ponte · License #9554597
(508) 677-3233
Added: Jul 29
Changed: Aug 31
Last Checked: Aug 31 at 6:06PM
MLS# 73556707
Copyright © 2026 MLS Property Information Network 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.
This conventional restaurant property includes a 2,505-square-foot structure on 1.28 acres. The building has an interior capacity of 80 and an outdoor seating allowance for 70 patrons, creating distinct indoor and exterior service areas. An indoor music license and full liquor license are also in place. Built in 1967, the property is located at 65 School St in Pembroke, Massachusetts.
Business A zoning supports continuation of the hospitality use and also accommodates retail, professional office, and service-oriented uses. The property is near Route 3 and is surrounded by businesses and residential neighborhoods, providing access to an established local commercial area.
Business A zoning supports continuation of the hospitality use and also accommodates retail, professional office, and service-oriented uses. The property is near Route 3 and is surrounded by businesses and residential neighborhoods, providing access to an established local commercial area.
Key Highlights
- 2,505‑square‑foot restaurant structure on 1.28 acres
- Interior capacity for 80 patrons
- Outdoor seating allowance for 70 patrons
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
6.17%
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 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,807 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
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, liquor and music licenses, and flexible indoor-outdoor hospitality capacity support continued restaurant operations.
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 $749,900.
What are key features of this property?
This property features: 2,505‑square‑foot restaurant structure on 1.28 acres; Interior capacity for 80 patrons; Outdoor seating allowance for 70 patrons
