Mixed-Use Property Across From
New
For Sale
$7,500,000
88-94 Chase Avenue Dennis, Dennis Port, MA 02639
Mixed-use site with commercial and residential improvements in an established coastal hospitality district.
Property Size16,136 SF
Days on Market3
Property Features for 88-94 Chase Avenue Dennis
General Information
Standard status
Active
Size
16,136 SF
Property subtype
Commercial
Zoning
Resort Resident
Taxes and HOA fees
Annual Taxes
$11,721
Building Details
Building Size
16,136 SF
Year Built
1965
Stories
2
Listing Agency:
Classic Cape Real Estate, LLC
Listed By:
Ken Hager
(508) 737-9974
Source:
Link.flexmls
Added: Sep 9
Last Checked: Sep 11 at 4:10AM
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
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.
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 = 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
$248,856
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
3.32%
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%
$4,977,120
$5.0M
Cap Rate 7%
$3,555,086
$3.6M
Cap Rate 9%
$2,765,067
$2.8M
Market Conditions
NOI Build-Up for 16,136 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
$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 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%
$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
NOI $248,856 @ 7.0% cap · market cap 3.32%
Second Best
Mixed Use
$3.22M
$2.81M – $3.75M
NOI $225,097 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$6.58M
$5.75M – $7.67M
NOI $460,286 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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
