Harbor-View Creative
For Sale
Contact for pricing
193 Commercial Street 6A&6B, Provincetown, MA 02657
Flexible two-unit layout with gallery-style interiors, track lighting, dual entrances, and a private harbor-facing deck.
Property Size1,450 SF
Price / SF$410.34
Days on Market16
Property Features for 193 Commercial Street 6A&6B
General Information
Standard status
Active
Size
1,450 SF
Property subtype
Multifamily
Additional Details
Road Access
Yes
Amenities
French doors
private harbor-facing deck
dual private entrances
Building Details
Year Built
1899
Stories
2
Listing Agency:
Berkshire Hathaway HomeServices Robert Paul Properties
(774) 538-9445
Listed By:
Max Cliggott-Perlt
Source:
Crexi
Added: Jul 27
Changed: Aug 5
Last Checked: Aug 10 at 10:51AM
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 Berkshire Hathaway HomeServices Robert Paul Properties
Investment Insights
Based on property information with market context.
This 1,450-square-foot creative space comprises two adjoining commercial units within a building constructed in 1899. Unit A contains 955 square feet and fronts Commercial Street with two sets of French doors. Unit B adds 495 square feet and connects to a private deck oriented toward Provincetown Harbor. The interiors are arranged as open gallery spaces with white walls and track lighting, supporting office, gallery, retail, or other creative uses identified in the property information.
Separate front and rear entries provide independent access points and flexibility for future interior planning. The property is located at 193 Commercial Street in Provincetown, Massachusetts. Any future layout changes or use compliance should be verified with the town.
Separate front and rear entries provide independent access points and flexibility for future interior planning. The property is located at 193 Commercial Street in Provincetown, Massachusetts. Any future layout changes or use compliance should be verified with the town.
Key Highlights
- 1,450 SF creative space configured as two adjoining commercial units
- Unit A includes 955 sq. ft. and fronts Commercial Street
- Unit B provides 495 sq. ft. plus a private harbor‑facing deck
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
$30,485
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
5.12%
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%
$609,700
$609.7K
Cap Rate 7%
$435,500
$435.5K
Cap Rate 9%
$338,722
$338.7K
Market Conditions
NOI Build-Up for 1,450 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
$50.8K $35.04/SF
− Vacancy
−$10.2K −$7.01/SF
EGI
$40.6K $28.03/SF
− OpEx
−$10.2K −$7.01/SF
NOI
$30.5K $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%
$609,700
Cap Rate 7%
$435,500
Cap Rate 9%
$338,722
Alternative Uses
Best Use
Office B
$435.5K
$381.1K – $508.1K
NOI $30,485 @ 7.0% cap · market cap 5.12%
Second Best
Retail
$425.4K
$372.3K – $496.3K
NOI $29,780 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$590.9K
$517.0K – $689.4K
NOI $41,362 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,243
Businesses Nearby
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Flexible two-unit layout with gallery-style interiors, track lighting, dual entrances, and a private harbor-facing deck.
Where is this creative space located?
The property is located at 193 Commercial Street 6A&6B Provincetown, MA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 1,450 SF creative space configured as two adjoining commercial units; Unit A includes 955 sq. ft. and fronts Commercial Street; Unit B provides 495 sq. ft. plus a private harbor‑facing deck
