Leased Storefront with Basement
For Sale
$975,000
193 Commercial Street, Provincetown, MA 02657
Commercial Sale, Provincetown, MA
Property Size1,548 SF
Lot Size0.32 Acres
Price / SF$629.84
Days on Market47
Property Features for 193 Commercial Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
TCC
Basement
Partial
Appliances
Water Heater
Directions
Bradford St to Carver St. Right on Commercial St. 193 Commercial St is on your left.
Subdivision
Provincetown
Standard status
Active
APN
PROV M:11-1 B: L:6-1-001
Size
1,548 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6312
Utilities
Sewer type
Public Sewer
Cooling system
Wall Unit(s)
Water source
Public
Water front
1
Amenities
basement storage
Building Details
Year built
1899
Floors in Building
2
Flooring type
Vinyl
Building materials
Shingle Siding
Roof type
Asphalt
Listing Agency:
Berkshire Hathaway HomeServices Robert Paul Properties
(508) 487-3020
Listed By:
Max Cliggott-Perlt
(774) 538-9445
Added: Jul 27
Changed: Sep 6
Last Checked: Sep 11 at 6:06PM
MLS# 22603621
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.
Investment Insights
Based on property information with market context.
This 1,548-square-foot retail condominium operates as a single commercial unit with basement storage. Roots, a home decor and gift boutique, occupies the space under an existing lease and has operated from this location for decades. The building dates to 1899 and features shingle siding, vinyl flooring, wall-unit cooling, an asphalt roof, and a water heater.
The property is located at 193 Commercial Street in downtown Provincetown, within the commercial district. Public water and public sewer serve the property. The offering combines an established retail occupancy with a defined storefront configuration and supplemental storage area.
The property is located at 193 Commercial Street in downtown Provincetown, within the commercial district. Public water and public sewer serve the property. The offering combines an established retail occupancy with a defined storefront configuration and supplemental storage area.
Key Highlights
- 1,548‑square‑foot retail condominium at 193 Commercial Street, Provincetown, MA 02657
- Currently leased to Roots, a home decor and gift boutique
- Single‑unit storefront configuration with basement storage
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
$31,793
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
3.26%
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%
$635,860
$635.9K
Cap Rate 7%
$454,186
$454.2K
Cap Rate 9%
$353,256
$353.3K
Market Conditions
NOI Build-Up for 1,548 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
$46.4K $30.00/SF
− Vacancy
−$1.0K −$0.66/SF
EGI
$45.4K $29.34/SF
− OpEx
−$13.6K −$8.80/SF
NOI
$31.8K $20.54/SF
Area
Barnstable County, MA
Vacancy
2.20%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$635,860
Cap Rate 7%
$454,186
Cap Rate 9%
$353,256
Alternative Uses
Best Use
Retail
$454.2K
$397.4K – $529.9K
NOI $31,793 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$630.8K
$552.0K – $736.0K
NOI $44,157 @ 7.0% cap · market cap 4.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,262
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - Single-unit retail condominium with basement storage and an established boutique tenant.
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 $975,000.
What are key features of this property?
This property features: 1,548‑square‑foot retail condominium at 193 Commercial Street, Provincetown, MA 02657; Currently leased to Roots, a home decor and gift boutique; Single‑unit storefront configuration with basement storage
