Charming Gallery in Wellfleet
20 Bank Wellfleet, MA 02667
20 Bank, Wellfleet, MA, 02667
$1,350,000
For Sale
$1,350,000
Commercial/Residential property with endless potential in a sought-after location.
Property Size3,119 SF
Price / SF$432.83
Days on Market426
Property Features for 20 Bank
General Information
- Standard status
- Active
- Size
- 3,119 SF
Building Details
- Year Built
- 1945
Listing agency
GIBSON SOTHEBY'S INTERNATIONAL REALTY
(508) 896-5000
Listed by
DAWN LEE
Source
Corcoran
Added: May 22, 2025 Updated: Mar 16 at 9:09AM Checked: Mar 16 at 9:09AM
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 GIBSON SOTHEBY'S INTERNATIONAL REALTY
Investment Insights
Based on property information with market context.
Located just off Main Street in the heart of Wellfleet, this property, known as the Blue Heron Gallery, offers charm, opportunity, and a desirable location. The cottage roots date back to 1946 in Truro, and it was relocated to Wellfleet in the 1970s. Zoned for both commercial and residential use, the property presents endless potential as a boutique storefront, gallery, or creatively reimagined residence with space for up to two bedrooms. Currently used exclusively as a gallery, its layout and visibility support a wide range of possibilities. The property size is 3119 square feet. The blooming gardens are moments from Wellfleet's village center, renowned for its eateries, galleries, boutiques, and world-famous oysters. Recent improvements include a newer roof, updated windows, Azek trim, and refreshed landscaping. The property offers a rare chance to shape your vision in one of Cape Cod's most sought-after settings. It can be used as live-work space, retail space, or mixed-use property.
Key Highlights
- Prime location just off Main Street in the heart of Wellfleet, close to restaurants, galleries, boutiques, and Wellfleet oysters.
- Zoned for both Commercial and Residential use, offering diverse opportunities for business or living space.
- Unique property with a history dating back to 1946, relocated to Wellfleet in the 1970s.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $93.6k | $30.00 |
| − Vacancy | −$2.1k | −$0.66 |
| EGI | $91.5k | $29.34 |
| − OpEx | −$27.5k | −$8.80 |
| NOI | $64.1k | $20.54 |
3,119 SF · lease $30.00/SF/yr · vacancy 2.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$915.1K
$800.7K – $1.07M
NOI $64,058 @ 7.0% cap · market cap 4.75%
Second Best
Mixed Use
$621.6K
$543.9K – $725.2K
NOI $43,510 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,971 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Blue Heron Gallery
Art Gallery
Similar For Sale Nearby
Similar Off Market Nearby
- Outer Cape Carpets — 2766 US-6, Wellfleet, MA 02667
FAQs
What type of property is this?
Showroom - Commercial/Residential property with endless potential in a sought-after location.
Where is this showroom located?
The property is located at 20 Bank Wellfleet, MA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Prime location just off Main Street in the heart of Wellfleet, close to restaurants, galleries, boutiques, and Wellfleet oysters.; Zoned for both Commercial and Residential use, offering diverse opportunities for business or living space.; Unique property with a history dating back to 1946, relocated to Wellfleet in the 1970s.
