Creative Space with Harbor-Facing
For Sale
$595,000
193 Commercial Street Unit 6A&6B, Provincetown, MA 02657
Two adjoining gallery spaces with track lighting, French doors, and a private harbor-facing deck.
Property Size1,450 SF
Price / SF$410.34
Days on Market98
Property Features for 193 Commercial Street Unit 6A&6B
General Information
Standard status
Active
Size
1,450 SF
Property subtype
Commercial
Amenities
track lighting
two sets of French doors
private harbor-facing deck
dual private entrances
Building Details
Year Built
1899
Listing Agency:
Berkshire Hathaway HomeServices Robert Paul Properties
Listed By:
Max Cliggott-Perlt
(774) 538-9445
Source:
Capecoastalsir
Added: Jun 9
Changed: Sep 13
Last Checked: Sep 14 at 7:02AM
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 Harborview commercial loft is currently configured as two adjoining gallery spaces, offering an open, light-filled layout with white walls and track lighting. Unit A is 955 SF and fronts Commercial Street, with two sets of French doors designed to maximize visibility and foot traffic. Unit B is 495 SF and opens to a private harbor-facing deck with Provincetown Harbor views.
The space provides dual private entrances, including a dedicated front entry and a rear stairwell, supporting flexibility for future layout planning. The offering is suitable for an owner-user or for a variety of creative and professional uses, including office, luxury art gallery, retail, or other creative ventures, with buyer verification required for any future layout and use compliance with the town.
Built in 1899, the property’s loft-style character and modern finishes create a distinctive setting for a range of storefront and creative concepts.
The space provides dual private entrances, including a dedicated front entry and a rear stairwell, supporting flexibility for future layout planning. The offering is suitable for an owner-user or for a variety of creative and professional uses, including office, luxury art gallery, retail, or other creative ventures, with buyer verification required for any future layout and use compliance with the town.
Built in 1899, the property’s loft-style character and modern finishes create a distinctive setting for a range of storefront and creative concepts.
Key Highlights
- Unit A is 955 SF fronting Commercial Street with two sets of French doors
- Unit B is 495 SF with a private harbor‑facing deck and Provincetown Harbor views
- Open, light‑filled layout with white walls and track lighting
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
—
—
no second resolved use
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
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 - Two adjoining gallery spaces with track lighting, French doors, and a private harbor-facing deck.
Where is this creative space located?
The property is located at 193 Commercial Street Unit 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: Unit A is 955 SF fronting Commercial Street with two sets of French doors; Unit B is 495 SF with a private harbor‑facing deck and Provincetown Harbor views; Open, light‑filled layout with white walls and track lighting
