89 Shank Painter RdProvincetown, MA 02657

Property Details for 89 Shank Painter Rd

Year built

2004

Construction

STEEL FRAME

Lot size

0.32 AC

Property size (Sq ft)

7,392 SF

Zone code

GC

Property type

Other commercial real estate

Property subtype

Showrooms

APN

PROV M:8-1 P:14

APU

PROVM81P14

Description

This exceptional 0.32-acre property at 89 Shank Painter Rd, Provincetown, MA 02657, presents a rare investment opportunity in a highly desirable and competitive market. Built in 2004, the existing three-story, single-building structure currently operates as a self-storage facility, offering immediate income potential. The property boasts strong road frontage on two sides, benefiting from planned improvements to Shank Painter Road, positioning it as a main artery into downtown Provincetown. Its commercial zoning allows for flexible redevelopment options, presenting significant upside potential for future development. This is a generational real estate opportunity in one of Cape Cod's most sought-after and tightly held real estate markets. The location offers unparalleled access to the vibrant downtown area and the unique charm of Provincetown. The existing structure provides a solid foundation for continued operation as a self-storage facility or a complete redevelopment into various commercial uses. This is a unique chance to acquire a strategically located asset with significant long-term growth potential in a highly desirable and limited-inventory market. The property's prime location and flexible zoning make it an ideal investment for both seasoned developers and astute investors seeking a high-return opportunity in a thriving coastal community. Don't miss this chance to secure a piece of Cape Cod's coveted real estate landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $1,796,514

  6.5%

  $1,658,321

  7%

  $1,539,869

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,433,914

  Geo Method

  $2,433,914

• Alternative Use

  Use

  Valuation

  Residential

  $1,398,856

  Hospitality

  $1,281,344

  Educational

  $1,066,063

  Medical

  $1,102,727

  Retail

  $1,658,321

Location Insight

City

Provincetown

County

Barnstable

State

Massachusetts

Latitude

42.0531

Longitude

-70.1953

CBSA code

12700

CBSA name

BARNSTABLE TOWN, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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