Building Details

Year Built 1962

Listing Agency: Coldwell Banker Realty - Wellesley Show Phone

Listed By: Jodie Zinna Show Phone

Source: Lockandkeyre

Added: Aug 20 Changed: Oct 16 Last Checked: Oct 16 at 8:16AM

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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 Coldwell Banker Realty - Wellesley

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Investment Insights

Based on property information with market context.

Located at 925 Main Street in downtown Millis, this restaurant property offers 3,948 square feet of interior space within a building constructed in 1962. The layout includes indoor dining areas, outdoor seating, and a fully built commercial kitchen, providing an established restaurant configuration.

The property is positioned in the center of downtown and includes on-site parking. Its combination of dining space, kitchen infrastructure, and indoor-outdoor seating supports continued restaurant use.

Key Highlights

• 3,948 square feet of interior restaurant space
• Fully built commercial kitchen
• Indoor and outdoor seating areas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,995

Suggested Prices Based on Cap Rates

Cap Rate 5%

$839,900 $839.9K

Cap Rate 7%

$599,929 $599.9K

Cap Rate 9%

$466,611 $466.6K

What to ask about pricing

Market Conditions

NOI Build-Up for 3,948 SF

Gross rent

$63.5K $16.08/SF

− Vacancy

−$3.5K −$0.88/SF

EGI

$60.0K $15.20/SF

− OpEx

−$18.0K −$4.56/SF

NOI

$42.0K $10.64/SF

Area

Norfolk County, MA

Vacancy

5.50%

Lease Rate

$16.08 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$839,900

Cap Rate 7%

$599,929

Cap Rate 9%

$466,611

Alternative Uses

Best Use

Specialty Retail

$1.04M

$908.5K – $1.21M (±1% cap)

NOI $72,677 @ 7.0% cap · market cap 7,267,700.00%

Second Best

Industrial

$599.9K

$524.9K – $699.9K (±1% cap)

NOI $41,995 @ 7.0% cap · market cap 4,199,500.00%

Theoretical Best

Office A

$2.34M

$2.05M – $2.73M (±1% cap)

NOI $163,604 @ 7.0% cap · market cap 16,360,400.00%

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

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Law Firm Real Estate Agency Building Supply Big Box & Wholesale Store Pharmacy Storage Facility

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

423

Businesses Nearby

73k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 48% Groceries 32% Home Improvements & Furnishings 8% Shops & Services 7%

Roche Bros Groceries

20,988 visits/mo 0.3 miles

McDonald's Dining

17,034 visits/mo 0.3 miles

Dunkin' Donuts Dining

9,676 visits/mo 0.2 miles

Honey Dew Donuts Dining

8,529 visits/mo 0.4 miles

Rocky's Ace Hardware Home Improvements & Furnishings

5,853 visits/mo 0.3 miles

Demographics for 02054, MA

8,460

Population

3,580

Households

2.4

Avg Household Size

44

Median Age

51%

College-Educated

97%

High-School Grad

12.0 sq mi

ZIP Area

705

Density / Sq Mi

$149,021

Median Household Income

$70,932

Median Earnings

$1,733

Median Rent

$570,300

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

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Built-out dining space includes a commercial kitchen and indoor and outdoor seating.

Where is this conventional restaurant located?

The property is located at 925 Main Street Restaurant Millis, MA.

What are key features of this property?

This property features: 3,948 square feet of interior restaurant space; Fully built commercial kitchen; Indoor and outdoor seating areas