Operating Restaurant with Event
For Sale
$2,699,000
70 Main Street, Wellfleet, MA 02667
Includes an operating restaurant plus a former function hall/event venue destroyed by fire in 2023.
Property Size5,815 SF
Days on Market103
Property Features for 70 Main Street
General Information
Standard status
Active
Size
5,815 SF
Property subtype
Commercial
Zoning
CD
Building Details
Building Size
5,815 SF
Year Built
1850
Stories
3
Listing Agency:
Classic Cape Real Estate, LLC
Listed By:
Ken Hager
(508) 737-9974
Source:
Link.flexmls
Added: Jul 21
Changed: Oct 25
Last Checked: Oct 30 at 10:26AM
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 Classic Cape Real Estate, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property features an operating restaurant building that is currently home to the Brekkies restaurant. It also includes the former function hall/event venue, which was lost to fire in 2023. Architectural plans have been prepared showing the potential to reconstruct the event space with residential units above, subject to buyer verification and required approvals.
The site is located adjacent to the Copper Swan Inn and is described as being moments from Wellfleet Harbor, downtown shops and galleries, and Cape Cod National Seashore beaches.
For buyers evaluating hospitality use today or redevelopment planning for the upper residential configuration shown in the prepared plans, this asset offers an on-site restaurant presence alongside a major redevelopment component.
The site is located adjacent to the Copper Swan Inn and is described as being moments from Wellfleet Harbor, downtown shops and galleries, and Cape Cod National Seashore beaches.
For buyers evaluating hospitality use today or redevelopment planning for the upper residential configuration shown in the prepared plans, this asset offers an on-site restaurant presence alongside a major redevelopment component.
Key Highlights
- Year built 1980
- Operating restaurant on‑site (Brekkies)
- Includes former function hall/event venue destroyed by fire in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,681
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,793,620
$1.8M
Cap Rate 7%
$1,281,157
$1.3M
Cap Rate 9%
$996,456
$996.5K
Market Conditions
NOI Build-Up for 5,815 SF
Gross rent
$125.6K $21.60/SF
− Vacancy
−$6.0K −$1.04/SF
EGI
$119.6K $20.56/SF
− OpEx
−$29.9K −$5.14/SF
NOI
$89.7K $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 Rate 5%
$1,793,620
Cap Rate 7%
$1,281,157
Cap Rate 9%
$996,456
Alternative Uses
Best Use
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,681 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.37M
$2.07M – $2.76M
NOI $165,875 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Well-served
Demand for This Use
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes an operating restaurant plus a former function hall/event venue destroyed by fire in 2023.
Where is this conventional restaurant located?
The property is located at 70 Main Street Wellfleet, MA.
What is the asking price?
The asking price for this property is $2,699,000.
What are key features of this property?
This property features: Year built 1980; Operating restaurant on‑site (Brekkies); Includes former function hall/event venue destroyed by fire in 2023
