218 Upper Main Street Edgartown — Photo 1 of 20
$2,495,000
Investment Analysis — 218 Upper Main Street
Edgartown, MA 02539 — Edgartown
Based on HUD Small Area Fair Market Rent for Dukes County, MA, a 1-bedroom in 02539 carries an estimated $1,770/mo in gross rent — about a 0.54% cap rate and $13,401/yr in estimated NOI at the $2,495,000 list price. Adjust every assumption in the calculator below.
Beds
1
Baths
1.5
SqFt
1,236
Style
Single Family
Built
1920
Located on Upper Main Street in Edgartown’s BII zoning district, this versatile property is currently home to Lucky Hank’s restaurant. Set on a desirable lot with a large private parking area, and in a coveted high-visibility location. The building offers a turnkey restaurant space and thriving business complete with a fully equipped commercial kitchen on the first floor. Upstairs, you’ll find one bedroom with an ensuite full bathroom, currently being used as the office. There is also an additional room being used for restaurant storage. With the flexibility to convert the property back to residential use, if desired, this is a rare opportunity in a prime location that should not be overlooked! This offering is for the real estate and the business. Please inquire with listing agent for additional details and information.
ADU Potential
Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 618 sq ft (the lesser of 900 sq ft or half the 1,236 sq ft principal dwelling). Lot size: 8,712 sq ft.
Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Electric Water Heater
Neighborhood
Public Transportation • Shopping • Park • Bike Path
Geography
Property History
$2,495,000
Jun 20, 2026
MLS® 73490033
$2,495,000
Apr 1, 2026
MLS® 73540958
$2,495,000
Mar 22, 2026
MLS® 73490033
Listing Agent: Madelyn Silvia
Listing Office: Wallace & Co. Sotheby's International Realty
MLS® Number: 73540958