32-Unit Motel with Indoor
New
For Sale
$4,500,000
999 State Highway, Wellfleet, MA 02667
Commercial Sale, Wellfleet, MA
Property Size18,210 SF
Lot Size2.00 Acres
Price / SF$247.12
Days on Market2
Property Features for 999 State Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
3010
Appliances
Water Heater
Lot features
Level
Elementary school district
Nauset
Middle school district
Nauset
High school district
Nauset
Directions
US Route 6 / State Highway to 999 State Highway, Wellfleet, Cape Cod, MA, USA. Right across from Marconi Beach!
Subdivision
Wellfleet
Standard status
Active
APN
WELL M:036.0 B:0187 L:0000.0
Size
18,210 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10100
Utilities
Utilities
Phone Available
Heating system
Electric (Heating), Oil
Cooling system
Wall Unit(s)
Water source
Public
Amenities
indoor pool
open floor plan reception area
sauna
fire pit
recreation area
outdoor pool
Building Details
Year built
1971
Floors in Building
2
Flooring type
Carpet, Laminate
Building materials
Wood Frame, Shingle Siding
Roof type
Asphalt
Listing Agency:
Premier Commercial
(508) 815-5700
Listed By:
John E Ciluzzi · License #8990
(508) 962-5033
Added: Aug 24
Last Checked: Aug 25 at 7:06PM
MLS# 22604159
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 1971 motel property comprises two buildings totaling 18,210 square feet on 2 acres. The operation includes 32 guest units with a mix of double-queen rooms, king rooms, suites, and economy accommodations, along with managers quarters. Interior amenities include a large indoor pool, reception area, sauna, and recreation space with a fire pit. An outdoor pool adds a second swimming facility. Construction includes wood-frame buildings with shingle siding, asphalt roofs, laminate and carpet flooring, electric and oil heat, wall-unit cooling, and public water.
The property is located at 999 State Highway in Wellfleet, across from the entrance to Cape Cod National Seashore and near Marconi Beach, the Atlantic Ocean, Cape Cod Bayside beaches, and local ponds. The site also provides ample parking and highway frontage.
The property is located at 999 State Highway in Wellfleet, across from the entrance to Cape Cod National Seashore and near Marconi Beach, the Atlantic Ocean, Cape Cod Bayside beaches, and local ponds. The site also provides ample parking and highway frontage.
Key Highlights
- 32 units plus managers quarters
- 18,210 square feet across two buildings on 2 acres
- Indoor and outdoor pools, sauna, fire pit, and recreation area
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
$228,353
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
5.07%
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%
$4,567,060
$4.6M
Cap Rate 7%
$3,262,186
$3.3M
Cap Rate 9%
$2,537,256
$2.5M
Market Conditions
NOI Build-Up for 18,210 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
$546.3K $30.00/SF
− Vacancy
−$65.6K −$3.60/SF
EGI
$480.7K $26.40/SF
− OpEx
−$252.4K −$13.86/SF
NOI
$228.4K $12.54/SF
Area
Barnstable County, MA
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
52.50%
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%
$4,567,060
Cap Rate 7%
$3,262,186
Cap Rate 9%
$2,537,256
Alternative Uses
Best Use
Hotel Hospitality
$3.26M
$2.85M – $3.81M
NOI $228,353 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.42M
$6.49M – $8.66M
NOI $519,448 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
43
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
Questions? Ask Rey
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Similar Off Market Nearby
- Ocean Pines Motel — 955 US-6, Wellfleet, MA 02667
- Southfleet Motor Inn — 999 US-6, South Wellfleet, MA 02663
Frequently Asked Questions
What type of property is this?
Motel - Two-building lodging property includes sauna, recreation areas, and indoor and outdoor swimming facilities.
Where is this motel located?
The property is located at 999 State Highway Wellfleet, MA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 32 units plus managers quarters; 18,210 square feet across two buildings on 2 acres; Indoor and outdoor pools, sauna, fire pit, and recreation area
