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    Waterfront Restaurant in Provincetown Available Title is generated by Realmo AI

    317 Commercial Street, Provincetown, MA 02657

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    For Lease
    $100,000 SF/Yr $53,958,333/Mo (calc)

    COMMERCIAL - Provincetown, MA

    Property size:
    6,475 SF
    Lot size:
    0.42 Acres
    Added:
    Oct 15, 2025
    Days on Market:
    215
    Last Refresh:
    May 17 at 11:06 pm

    Property Features for 317 Commercial Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Basement
    Full
    Appliances
    Water Heater
    Standard status
    Active
    APN
    11-3-7-0
    Size
    6,475 SF
    Lot size
    0.42 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    35000

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Propane (Heating), Forced Air
    Cooling system
    Wall Unit(s)
    Water source
    Public
    Water front
    1

    Building Details

    Year built
    1950
    Floors in Building
    2
    Flooring type
    Heavy duty
    Building materials
    Wood Frame, Shingle Siding

    We can help!

    Listing Contact
    John E Ciluzzi
    John E Ciluzzi

    Listing agent John E Ciluzzi License #9516768

    Listing office Premier Commercial 1645 Falmouth Road, Building G, Centerville, MA

    Listing date Oct 15, 2025

    MLS# 22505201

    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.

    HighLights

    • Prime waterfront location at the foot of MacMillan Pier and abutting Lopes Square, offering unparalleled harbor views and a unique waterfront dining experience.
    • Brand new construction (finished in 2022) ensuring modern infrastructure and appeal.
    • High traffic location with direct exposure to Ferry Service and Whale Watch passengers, plus proximity to municipal parking.
    • Substantial dining capacity: 4,439 SF first floor with interior/bar seating for 120 and outside dining for 120.
    • Additional 3,237 SF lower level for liquor/dry goods storage and delivery.
    • Located in the heart of Provincetown, steps away from hotels, shops, and galleries.

    Overview

    A waterfront restaurant in Provincetown, Massachusetts, is available for lease. Constructed in 2022, the property is located at the foot of MacMillan Pier, directly abutting Lopes Square, and offers waterfront dining experiences. Overlooking Provincetown Harbor, the Surf Club provides views of marinas, the beach, and Lopes Square. The first floor measures 4,439 square feet and includes a kitchen, interior dining/bar area with seating for 120, and outside dining space for 120. The lower level provides 3,237 square feet of liquor and dry goods storage and delivery space. The second floor offers 1,900 square feet of open space. The location experiences high vehicle and foot traffic due to its proximity to ferry service and whale watch passengers. Situated near the Municipal Parking Lot, parking is available for staff and customers. The property is located in the heart of Provincetown, near hotels, B&Bs, inns, shops, and galleries. The lot size is 0.42 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Soft as a Grape Clothing Store Luke's Lobster MacMillan ... Restaurant Surf Club Restaurant Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Victor's — 175 Bradford Street Ext, Provincetown, MA 02657
    • Cosmos To Go — 43 Race Point Rd, Provincetown, MA 02657
    • Perfect Picnic Ptown — 205 Commercial St, Provincetown, MA 02657

    Location Insight

    • Map
    • Local Demand
    City
    Provincetown
    County
    Barnstable
    State
    Massachusetts
    Longitude
    -70.185092
    Latitude
    42.051601

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    FAQs

    What type of property is this?
    Restaurant - Provincetown waterfront restaurant for lease with harbor views.
    Where is this restaurant located?
    The property is located at 317 Commercial Street Provincetown, MA.
    What is the lease rate?
    The lease rate is $100,000.
    What are key features of this property?
    This property features: Prime waterfront location at the foot of MacMillan Pier and abutting Lopes Square, offering unparalleled harbor views and a unique waterfront dining experience.; Brand new construction (finished in 2022) ensuring modern infrastructure and appeal.; High traffic location with direct exposure to Ferry Service and Whale Watch passengers, plus proximity to municipal parking.
    (508) 962-5033
    We can help!
    Listing Contact
    John E Ciluzzi
    John E Ciluzzi
    Real Estate License ID: 9516768
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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