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    Cape Cod Restaurant Opportunity Title is generated by Realmo AI

    981 MA-28, South Yarmouth, MA 02664

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    Claim this Listing
    Pending
    $499,000

    COMMERCIAL - South Yarmouth, MA

    Property size:
    3,739 SF
    Lot size:
    0.62 Acres
    Added:
    Jun 26, 2021
    Days on Market:
    1787
    Last Refresh:
    May 17 at 7:06 pm

    Property Features for 981 MA-28

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    60
    Parking features
    Paved or Surfaced, Parking Lot, Off Street
    Fencing
    Fenced
    Basement
    Partial
    Appliances
    Water Heater
    Standard status
    Pending
    APN
    42-43
    Size
    3,739 SF
    Lot size
    0.62 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Annual Amount
    3756

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1950
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Tile, Laminate
    Building materials
    Stucco
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Nat S Santoro

    Listing agent Nat S Santoro License #141467

    Listing office Kinlin Grover Compass 32 Main Street Commercial Office, Plymouth, MA

    Listing date Jun 26, 2021

    MLS# 22104449

    Copyright © 2026 Cape Cod & Islands Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Located in a busy, year‑round area of Cape Cod, offering high visibility and consistent customer traffic.
    • Zoned B2 commercial, VC4, Hotel/Motel overlay district, and Economic Opportunity Zone, providing diverse business opportunities and potential incentives.
    • Restaurant space with 78 seats (62 dining room, 16 bar) and septic system approved for 112 seats, allowing for potential expansion.
    • Includes essential infrastructure: sprinkler system, forced air/natural gas heating, and central air cooling.
    • Property size of .62 acres with paved off‑street parking and a parking lot.
    • Owner may consider a lease/purchase option for qualified buyers.

    Overview

    This commercial property features a 78-seat restaurant, with 62 seats in the dining room and 16 at the bar. The septic system is designed for 112 seats. A sprinkler system is in place. Situated on a 0.62-acre lot, the property is located in the B2 commercial zone, VC4, and the Hotel/Motel overlay district, as well as in the Economic Opportunity Zone. This restaurant is located in a busy, year-round area of Cape Cod. The 3,739 square foot restaurant has been vacant and requires repairs and upgrades. The owner may consider a lease/purchase for a qualified buyer.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Map

    City
    South Yarmouth
    County
    State
    Massachusetts
    Longitude
    -70.205348
    Latitude
    41.656092

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    FAQs

    What type of property is this?
    Conventional restaurant - 78-seat restaurant on 0.62 acres in a busy area.
    Where is this conventional restaurant located?
    The property is located at 981 MA-28 South Yarmouth, MA.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Located in a busy, year‑round area of Cape Cod, offering **high visibility and consistent customer traffic**.; Zoned B2 commercial, VC4, Hotel/Motel overlay district, and Economic Opportunity Zone, providing diverse business opportunities and potential incentives.; Restaurant space with **78 seats (62 dining room, 16 bar)** and septic system approved for 112 seats, allowing for potential expansion.
    (508) 274-0509
    We can help!
    Listing Contact
    Nat S Santoro
    Real Estate License ID: 141467
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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