Multi-Level Storefront with Harbor-View
For Sale
$1,525,000
193 Commercial Street, Provincetown, MA 02657
Versatile multi-level storefront includes a harbor-view deck and two connected upper spaces.
Property Size2,998 SF
Days on Market45
Property Features for 193 Commercial Street
General Information
Standard status
Active
Size
2,998 SF
Property subtype
Commercial
Zoning
TCC
Taxes and HOA fees
Annual Taxes
$2,026
Amenities
basement storage
harbor-view deck
French doors
independent front and rear stairwells
modern finishes
Building Details
Building Size
2,998 SF
Year Built
1899
Buildings
1
Stories
2
Listing Agency:
Classic Cape Real Estate, LLC
Listed By:
Ken Hager
(508) 737-9974
Source:
Link.flexmls
Added: Jul 29
Changed: Sep 10
Last Checked: Sep 11 at 4:11AM
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 Classic Cape Real Estate, LLC
Investment Insights
Based on property information with market context.
This multi-level storefront property offers a total of 2,998 sq ft of versatile commercial space, built in 1899. The ground floor features a well-established retail storefront that operates as a single unit and includes valuable basement storage.
Upstairs, approximately 1,450 sq ft includes two bright, connected commercial spaces with modern finishes. French doors overlook Commercial Street, and there is a harbor-view deck that supports a more appealing customer-facing environment.
A key architectural advantage is the presence of independent front and rear stairwells. That configuration can support a range of retail, office, or creative uses where separate access within the building is valuable, including potential owner-user layouts or future conversion opportunities.
Upstairs, approximately 1,450 sq ft includes two bright, connected commercial spaces with modern finishes. French doors overlook Commercial Street, and there is a harbor-view deck that supports a more appealing customer-facing environment.
A key architectural advantage is the presence of independent front and rear stairwells. That configuration can support a range of retail, office, or creative uses where separate access within the building is valuable, including potential owner-user layouts or future conversion opportunities.
Key Highlights
- 2,998 sq ft multi‑level storefront property built in 1899
- Ground floor retail storefront operates as a single unit with basement storage
- Upstairs approx. 1,450 sq ft with two bright, connected commercial spaces
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
$63,030
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
4.13%
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%
$1,260,600
$1.3M
Cap Rate 7%
$900,429
$900.4K
Cap Rate 9%
$700,333
$700.3K
Market Conditions
NOI Build-Up for 2,998 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
$105.0K $35.04/SF
− Vacancy
−$21.0K −$7.01/SF
EGI
$84.0K $28.03/SF
− OpEx
−$21.0K −$7.01/SF
NOI
$63.0K $21.02/SF
Area
Barnstable County, MA
Vacancy
20.00%
Lease Rate
$35.04 /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%
$1,260,600
Cap Rate 7%
$900,429
Cap Rate 9%
$700,333
Alternative Uses
Best Use
Office B
$900.4K
$787.9K – $1.05M
NOI $63,030 @ 7.0% cap · market cap 4.13%
Second Best
Retail
$879.6K
$769.7K – $1.03M
NOI $61,573 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,519 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,243
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 02657, MA
3,664
Population
4,778
Households
0.8
Avg Household Size
58
Median Age
61%
College-Educated
96%
High-School Grad
9.7 sq mi
ZIP Area
378
Density / Sq Mi
$104,500
Median Household Income
$54,784
Median Earnings
$1,306
Median Rent
$769,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - Versatile multi-level storefront includes a harbor-view deck and two connected upper spaces.
Where is this storefront property located?
The property is located at 193 Commercial Street Provincetown, MA.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: 2,998 sq ft multi‑level storefront property built in 1899; Ground floor retail storefront operates as a single unit with basement storage; Upstairs approx. 1,450 sq ft with two bright, connected commercial spaces
