Retail Storefront with
For Sale
$1,150,000
20 Bank Street, Wellfleet, MA 02667
COMMERCIAL - Wellfleet, MA
Property Size3,119 SF
Lot Size0.26 Acres
Price / SF$368.71
Days on Market456
Property Features for 20 Bank Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
CD
Parking
10
Parking features
Off Street
Interior features
High Speed Internet
Fencing
Fenced
Basement
Partial
Appliances
Water Heater
Lot features
Views, Cleared
View
River
Elementary school district
Nauset
Middle school district
Nauset
High school district
Nauset
Directions
Main or Commercial to Bank Street- parking in the back.
Subdivision
Wellfleet
Standard status
Active
APN
15-85-0
Size
3,119 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4573
Utilities
Sewer type
Septic Tank
Heating system
Oil
Cooling system
Central Air
Water source
Well
Amenities
landscaped gardens
Building Details
Year built
1945
Floors in Building
2
Flooring type
Vinyl, Carpet
Building materials
Wood Frame, Barnboard
Roof type
Asphalt
Listing Agency:
Gibson Sotheby's International Realty
(508) 896-5000
Listed By:
Dawn Lee
(508) 237-5399
Added: May 22, 2025
Changed: Aug 11
Last Checked: Aug 20 at 4:06PM
MLS# 22502493
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 distinctive retail storefront property features landscaped, welcoming gardens and is currently presented as the Blue Heron Gallery. Built as a cottage in 1946 and relocated to its current location in the 1970s, the structure includes recent exterior improvements such as a newer roof, updated windows, Azek trim, and refreshed landscaping.
The property is described as being in the heart of Wellfleet, just steps from Main Street. It is positioned for use as a gallery or boutique, with zoning allowing both commercial and residential use (buyers should verify all intended uses).
After closing, the buyer will be responsible for completing a septic repair. A Board of Health-approved repair plan is in hand, with an estimated cost of approximately $6,000 to $8,000, and buyers are encouraged to perform their own due diligence regarding repair costs.
The property is described as being in the heart of Wellfleet, just steps from Main Street. It is positioned for use as a gallery or boutique, with zoning allowing both commercial and residential use (buyers should verify all intended uses).
After closing, the buyer will be responsible for completing a septic repair. A Board of Health-approved repair plan is in hand, with an estimated cost of approximately $6,000 to $8,000, and buyers are encouraged to perform their own due diligence regarding repair costs.
Key Highlights
- Blue Heron Gallery property with Commercial and Residential zoning (buyer to verify intended uses)
- Built in 1945; originally a cottage in Truro, relocated to the current location in the 1970s
- Recent improvements include newer roof, updated windows, Azek trim, and refreshed landscaping
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
$64,058
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
5.57%
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%
$1,281,160
$1.3M
Cap Rate 7%
$915,114
$915.1K
Cap Rate 9%
$711,756
$711.8K
Market Conditions
NOI Build-Up for 3,119 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
$93.6K $30.00/SF
− Vacancy
−$2.1K −$0.66/SF
EGI
$91.5K $29.34/SF
− OpEx
−$27.5K −$8.80/SF
NOI
$64.1K $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%
$1,281,160
Cap Rate 7%
$915,114
Cap Rate 9%
$711,756
Alternative Uses
Best Use
Retail
$915.1K
$800.7K – $1.07M
NOI $64,058 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,971 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02667, MA
3,309
Population
4,139
Households
0.8
Avg Household Size
60
Median Age
56%
College-Educated
99%
High-School Grad
16.9 sq mi
ZIP Area
196
Density / Sq Mi
$115,469
Median Household Income
$48,186
Median Earnings
$1,200
Median Rent
$760,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Outer Cape Carpets — 2766 US-6, Wellfleet, MA 02667
Frequently Asked Questions
What type of property is this?
Showroom - Retail storefront property zoned for commercial and residential use, with newer roof and updated windows; septic repair remains post-closing.
Where is this showroom located?
The property is located at 20 Bank Street Wellfleet, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Blue Heron Gallery property with Commercial and Residential zoning (buyer to verify intended uses); Built in 1945; originally a cottage in Truro, relocated to the current location in the 1970s; Recent improvements include newer roof, updated windows, Azek trim, and refreshed landscaping
