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    312 Commercial Street Provincetown, MA 02657

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    Claim this Listing
    Pending
    $200,000 SF/Yr $126,100,000/Mo (calc)

    COMMERCIAL - Provincetown, MA

    Property size:
    7,566 SF
    Lot size:
    0.08 Acres
    Added:
    Nov 16, 2025
    Days on Market:
    170
    Last Refresh:
    May 5 at 9:06 am

    Property Features for 312 Commercial Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Basement
    Full
    Appliances
    Water Heater
    Standard status
    Pending
    APN
    PROV M:11-3 P:113
    Size
    7,566 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5000

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Propane (Heating), Forced Air
    Cooling system
    Wall Unit(s)
    Water source
    Public

    Building Details

    Year built
    1880
    Floors in Building
    2
    Flooring type
    Laminate
    Building materials
    Shingle Siding
    Roof type
    Flat

    We can help!

    Listing Contact
    John E Ciluzzi
    John E Ciluzzi

    Listing agent John E Ciluzzi License #9516768

    Listing office Premier Commercial 1645 Falmouth Road, Building G, Centerville, MA

    Listing date Nov 16, 2025

    MLS# 22505634

    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.

    Overview

    Prime Provincetown Restaurant and Bar

    The Governor Bradford Restaurant and Bar, a well-known establishment in Provincetown, is available for lease. This location, popular among both locals and tourists, offers the use of the 'Governor Bradford' brand and business. Situated at the intersection of Standish and Commercial Streets, the property benefits from high vehicle and foot traffic, serving as a main route to the town center, municipal parking lots, piers, marinas, and whale watching locations. The 7,566 square foot space includes multiple dining areas and bars, offering the potential for a dual concept operation. A large commercial kitchen is in good working order. Cosmetic improvements are planned for the interior and exterior, including new BIFOLD windows across the Commercial Street facade. The site has significant frontage. A potential lower level may be available for use in the future. The property is intended for use as a bar, restaurant, or retail property. Tenant is responsible for verifying all use, permits, and licenses required for business.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Governor Bradford Restaurant Restaurant

    Suggested Use

    Law Firm Real Estate Agency Dental Office Spa & Massage Center Hair Salon Restaurant Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Joon Bar — 133 Commercial St, Provincetown, MA 02657
    • Nor'East Beer Garden — 206 Commercial St, Provincetown, MA 02657
    • Grotta Bar — 186 Commercial St, Provincetown, MA 02657
    • The Monkey Bar — 149 Commercial St, Provincetown, MA 02657
    • Castaways — 11 carver st, provincetown, ma 02657

    Location Insight

    • Map
    • Local Demand
    City
    Provincetown
    County
    Barnstable
    State
    Massachusetts
    Longitude
    -70.185616
    Latitude
    42.052154

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    FAQs

    What type of property is this?
    Bar & Pub - Iconic restaurant and bar in the heart of Provincetown.
    Where is this bar & pub located?
    The property is located at 312 Commercial Street Provincetown, MA.
    What is the lease rate?
    The lease rate is $200,000.
    What are key features of this property?
    This property features: Prime location in the center of Provincetown at the corner of Standish and Commercial Streets, benefiting from high vehicle and foot traffic.; Use of the established "Governor Bradford" brand and business.; Multiple spacious dining areas and bars, lending to potential dual concept operation.
    (508) 962-5033
    We can help!
    Listing Contact
    John E Ciluzzi
    John E Ciluzzi
    Real Estate License ID: 9516768
    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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