Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    450 Main St Chatham, MA 02633

    • Investment properties
    • 7,396 SF
    • 0.26 lot acres
    For Sale
    View listing
    $3,500,000
    Last Sale
    Oct 27, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-2349027
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Tale of the Cod / Gift Shop

    Property Details for 450 Main St

    Year built
    1960
    Construction
    FRAME
    Lot size
    0.26 lot acres
    Property size
    7,396 SF
    Zone code
    GB2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    CHAT M:15D B:0050 L:91
    APU
    CHATM15DB0050L91

    Description

    This exceptional investment opportunity in Chatham, MA, presents a thriving retail business coupled with a valuable real estate asset. Located at 450 Main Street, this property boasts a charming storefront with ample display space, creating a welcoming shopping environment. The business, renowned for its curated selection of fine gifts, furniture, and home accessories sourced from local artisans, has cultivated a strong reputation over its 64-year history. Its prime location, just half a mile from the Chatham Lighthouse and the Atlantic Ocean, ensures high visibility and foot traffic. Adding significant value, the property also includes five one-bedroom apartments currently available for lease, representing a lucrative income stream in a competitive rental market. The 0.26-acre lot provides ample space for the existing business and rental units. This unique offering combines the established success of a long-standing retail enterprise with the potential for substantial rental income, making it an attractive investment opportunity in a desirable coastal location. The property's strong community ties and diverse product range contribute to its enduring appeal and profitability. This is a rare chance to acquire a well-established business and valuable real estate in one of Cape Cod's most sought-after towns. The asking price is $4,498,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,720,000
      6.5%
      $1,585,000
      7%
      $1,475,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $809,000
      Market price range: $398k - $1.37M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,835,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chatham
    County
    Barnstable
    State
    Massachusetts
    Longitude
    -69.9556
    Latitude
    41.6796
    CBSA code
    12700
    CBSA name
    BARNSTABLE TOWN, MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $7,665
    $1,206,300
    $940,700
    $2,147,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,300,000
      3,937 SF

      104 Crowell Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,937 SF
      104 Crowell Rd, Chatham, MA 02633-2085
      View Details
    • Value Estimation by Request
      1.00 Acres

      776 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 1.00 Acres
      776 Main St, Chatham, MA 02633-1823
      View Details
    • Value Estimation by Request
      0.78 Acres

      505 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.78 Acres
      505 Main St, Chatham, MA 02633-2216
      View Details
    • Value Estimation by Request
      1,688 SF

      434 Ridgevale Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,688 SF
      434 Ridgevale Rd, Chatham, MA 02633
      View Details
    • Value Estimation by Request
      0.23 Acres

      145 Stony Hl Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 0.23 Acres
      145 Stony Hl Rd, Chatham, MA 02633-1994
      View Details
    • Value Estimation
      $1,275,000
      2,768 SF

      48 Crowell Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,768 SF
      48 Crowell Rd, Chatham, MA 02633-2826
      View Details

    Similar Nearby for Sale

    • $3,500,000

      Chatham Mixed-Use Investment Opportunity

      Mixed-use property in Chatham, MA with residential and retail potential.
      450 Main St, Chatham, MA 02633
      View Details
    • $599,900
      1,260 SF

      Renovated Office Space in Chatham

      Exceptional, renovated office space in the heart of Chatham.
      6 Munson Meeting Way, Chatham, MA 02633
      View Details
    • $315,000
      Pending

      Chatham Land Abutting Town Forest

      Building lot available in Chatham, MA, abutting the Town Forest.
      Tirrells Way, Chatham, MA 02633
      View Details
    • $1,995,000
      2,586 SF

      Chatham Commercial Property - $1.995M

      Multi-use property, 2 buildings, 21,780 sq ft lot.
      231 Crowell Rd, Chatham, MA 02633
      View Details
    • Contact for pricing
      4,235 SF

      Prime Chatham Commercial Space

      Three-story office, 4,235 sq ft, 13 parking spaces.
      697 Main St, Chatham, MA 02633
      View Details
    • New
      $1,150,000
      Pending

      Chatham Commercial Building/Warehouse For Sale

      Commercial building/warehouse with multiple uses in Chatham's industrial area.
      70 Enterprise Dr, Chatham, MA 02633
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      Prime Retail Space in Chatham

      Corner retail location in the heart of Main Street Chatham.
      470 Main St, Chatham, MA 02633
      View Details
    • $40 SF/Yr
      Pending

      Prime Chatham Retail Space Available

      Exceptional commercial space in a highly desirable Chatham location.
      631 Main St, Chatham, MA 02633
      View Details
    • $40 SF/Yr

      Chatham Retail Building For Rent

      558 sq.ft. free standing building in prime Chatham location.
      726 Main St, Chatham, MA 02633
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    450 Main St
    Chatham, MA 02633
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.