Building Details

Building Size 16,136 SF

Year Built 1965

Stories 2

Listing Agency: Classic Cape Real Estate, LLC

Listed By: Ken Hager Show Phone

Source: Link.flexmls

Added: Sep 9 Changed: Oct 25 Last Checked: Oct 28 at 4:37AM

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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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Investment Insights

Based on property information with market context.

This mixed-use property at 88-94 Chase Avenue includes a commercial building formerly operated as a 180-seat restaurant along with multiple residential structures. The site also provides approximately 50 existing parking spaces, creating a substantial assembled property with both commercial and residential components. Construction dates to 1965.

The property is directly across from the beach in Dennis Port and sits within the Chase Avenue Hotel Resort Area. The surrounding corridor includes oceanfront resorts, vacation properties, beaches, and established dining destinations. The zoning framework identifies qualifying hotel development at up to 4½ stories or 50 feet, supporting consideration of hospitality-oriented redevelopment, adaptive reuse, or continued restaurant use where permitted.

Key Highlights

• Approximately 50 existing parking spaces
• Commercial building formerly operated as a 180‑seat restaurant
• Multiple residential structures included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$248,856

Cap Rate

3.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,977,120 $5.0M

Cap Rate 7%

$3,555,086 $3.6M

Cap Rate 9%

$2,765,067 $2.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,136 SF

Gross rent

$348.5K $21.60/SF

− Vacancy

−$16.7K −$1.04/SF

EGI

$331.8K $20.56/SF

− OpEx

−$83.0K −$5.14/SF

NOI

$248.9K $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%

$4,977,120

Cap Rate 7%

$3,555,086

Cap Rate 9%

$2,765,067

Alternative Uses

Best Use

Specialty Retail

$3.56M

$3.11M – $4.15M (±1% cap)

NOI $248,856 @ 7.0% cap · market cap 3.32%

Second Best

Mixed Use

$3.22M

$2.81M – $3.75M (±1% cap)

NOI $225,097 @ 7.0% cap · market cap 3.00%

Theoretical Best

Office A

$6.58M

$5.75M – $7.67M (±1% cap)

NOI $460,286 @ 7.0% cap · market cap 6.14%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Commercial land

Suggested Use

Top Pick Parking Lot & Garage Auto Repair Shop Electrical Service Plumbing Service (Bike/Boat/Book/etc) Store Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

259

Businesses Nearby

Explore this area Business Placement

Demographics for 02639, MA

3,238

Population

5,162

Households

0.6

Avg Household Size

53

Median Age

39%

College-Educated

98%

High-School Grad

2.8 sq mi

ZIP Area

1,156

Density / Sq Mi

$64,051

Median Household Income

$47,857

Median Earnings

$1,296

Median Rent

$451,700

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Similar For Sale Nearby

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Established Seafood Restaurant Business Opportunity

527 Main Street, Dennis Port, MA 02639

$249,000

2,402 SF

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Retail/Office Building with Unfinished Second Floor

Dennis Port, MA 02639

$1,100,000

4,610 SF

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Mixed-use site with commercial and residential improvements in an established coastal hospitality district.

Where is this mixed-use property located?

The property is located at 88-94 Chase Avenue Dennis Dennis Port, MA.

What is the asking price?

The asking price for this property is $7,500,000.

What are key features of this property?

This property features: Approximately 50 existing parking spaces; Commercial building formerly operated as a 180‑seat restaurant; Multiple residential structures included