Downtown Restaurant Building with
For Sale
$1,999,000
C1-460 Main St, Hyannis, MA
Masonry commercial building in Downtown Hyannis with on-site parking and municipal utilities, renovated in 2016.
Property Size6,300 SF
Lot Size0.33 Acres
Price / SF$317.30
Days on Market215
Property Features for C1-460 Main St
General Information
Standard status
Active
Size
6,300 SF
Lot size
0.33 Acres
Zoning
Downtown Main Street zoning district
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$12,387
Building Details
Year Built
1987
Year Renovated
2016
Listing Agency:
Commercial Realty Advisors, Inc.
Listed By:
Kevin Pepe
(508) 862-9000
Source:
Exprealty
Added: Feb 2
Changed: Aug 21
Last Checked: Sep 4 at 8:42AM
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 Commercial Realty Advisors, Inc.
Investment Insights
Based on property information with market context.
Offered for sale is a highly visible ±6,300 SF masonry commercial building on Main Street in downtown Hyannis. The property sits on ±0.33 acres and was originally constructed in 1987, with renovation completed in 2016. With municipal utilities, established site infrastructure, and on-site parking, the building is well-suited for continued restaurant and hospitality use, as well as other commercial repositioning.
Located in the Downtown Main Street zoning district and the Downtown Hyannis Growth Incentive Zone, the property is described as having strong foot traffic and excellent frontage. The public remarks also note proximity to Hyannis Harbor, ferry terminals, hotels, retail, and year-round attractions.
Sale includes the real estate only; the operating business known as Fresh Ketch is not included.
Located in the Downtown Main Street zoning district and the Downtown Hyannis Growth Incentive Zone, the property is described as having strong foot traffic and excellent frontage. The public remarks also note proximity to Hyannis Harbor, ferry terminals, hotels, retail, and year-round attractions.
Sale includes the real estate only; the operating business known as Fresh Ketch is not included.
Key Highlights
- +/-6,300 SF masonry commercial building on Main Street in Downtown Hyannis
- Renovated in 2016; originally constructed in 1987
- +/-0.33 acres in the Downtown Main Street zoning district and Downtown Hyannis Growth Incentive Zone
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
$97,161
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
4.86%
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%
$1,943,220
$1.9M
Cap Rate 7%
$1,388,014
$1.4M
Cap Rate 9%
$1,079,567
$1.1M
Market Conditions
NOI Build-Up for 6,300 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
$136.1K $21.60/SF
− Vacancy
−$6.5K −$1.04/SF
EGI
$129.5K $20.56/SF
− OpEx
−$32.4K −$5.14/SF
NOI
$97.2K $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%
$1,943,220
Cap Rate 7%
$1,388,014
Cap Rate 9%
$1,079,567
Alternative Uses
Best Use
Specialty Retail
$1.39M
$1.21M – $1.62M
NOI $97,161 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $179,710 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Masonry commercial building in Downtown Hyannis with on-site parking and municipal utilities, renovated in 2016.
Where is this conventional restaurant located?
The property is located at C1-460 Main St Hyannis, MA.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: +/-6,300 SF masonry commercial building on Main Street in Downtown Hyannis; Renovated in 2016; originally constructed in 1987; +/-0.33 acres in the Downtown Main Street zoning district and Downtown Hyannis Growth Incentive Zone
