Prime Provincetown Commercial Street
251 Commercial Street Provincetown, MA 02657
251 Commercial Street, Provincetown, MA, 02657
$3,249,000
For Sale
$3,249,000
Storied Commercial Street property with retail, storage, and residential space.
Property Size4,598 SF
Price / SF$706.61
Days on Market179
Property Features for 251 Commercial Street
General Information
- Standard status
- Active
- Size
- 4,598 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing agency
SEASCAPE REALTY, INC.
(508) 487-6111
Listed by
TIMOTHY BROWN
Source
Corcoran
Added: Jan 24 Updated: Jul 10 at 3:55PM Checked: Jul 21 at 6:07AM
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 SEASCAPE REALTY, INC.
Investment Insights
Based on property information with market context.
Located at the epicenter of Provincetown's commercial activity, this property offers a rare opportunity to own a significant building on Commercial Street. The property features approximately 1,940 square feet of street-level retail space with high visibility, complemented by approximately 570 square feet of storage space. The second floor includes eight bedrooms, historically utilized for staff housing, along with common areas and water views. The total area of the property is approximately 4,598 square feet. The building opens onto Gosnold Street, near the 'ART' sign, a local landmark. The property has been under the same family ownership for over 60 years and is offered as real estate only. It presents an opportunity to continue its legacy as a retail destination or for redevelopment. The property is offered as-is.
Key Highlights
- Prime "Golden Block" location on Commercial Street with high visibility.
- Substantial retail space (1,940± sq ft) combined with rare 570± sq ft of storage.
- Significant square footage (4,598± sq ft) with redevelopment potential.
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 | $137.9k | $30.00 |
| − Vacancy | −$3.0k | −$0.66 |
| EGI | $134.9k | $29.34 |
| − OpEx | −$40.5k | −$8.80 |
| NOI | $94.4k | $20.54 |
4,598 SF · lease $30.00/SF/yr · vacancy 2.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.35M
$1.18M – $1.57M
NOI $94,434 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.64M – $2.19M
NOI $131,160 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
Similar Off Market Nearby
- Provincetown Florist — 281 Commercial St #3, Provincetown, MA 02657
- Stop & Shop Florist — Provincetown, MA 02657
- Heavy Petal — 136 Commercial St, Provincetown, MA 02657
FAQs
What type of property is this?
Storefront property - Storied Commercial Street property with retail, storage, and residential space.
Where is this storefront property located?
The property is located at 251 Commercial Street Provincetown, MA.
What is the asking price?
The asking price for this property is $3,249,000.
What are key features of this property?
This property features: Prime "Golden Block" location on Commercial Street with high visibility.; Substantial retail space (1,940± sq ft) combined with rare **570± sq ft of storage**.; Significant square footage (4,598± sq ft) with redevelopment potential.
