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Property profile & analytics
OFF-MARKET
Estimated value
$1,355,000
Hotels
198 Commercial St, Provincetown, MA 02657-2117
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US38-0389744
Property profile
Verified
Property type
Hotels
Use group
HOTEL-RESORT
Year built
1882
Construction
FRAME
Total area
3,174 SF
Lot
0.05 ac (2,091 SF)
Zoning code
TCC
APN
PROV M:11-1 P:18
UPID
US38-0389744
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Crew's Quarters Boarding House Bed & Breakfast Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.55M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.13M
Blend (final)
Blend
$1.36M
Owner & transaction history
198 Commercial Propco LLC · 5 yrs held
198 Commercial Propco LLC
since 2020
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
TCC · Provincetown, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.1M
+103.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Provincetown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Provincetown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,510,000
ML approach
$1,545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,040,000
Current use
COMMERCIAL (GENERAL)
$2,120,000
Change: +104% · Conversion: Difficult
Blend value · Realmo final
$1.36M
Range $1.22M – $1.49M · ±10% · vs last sale $1.30M (Nov 16 2020)
Last sale anchor
$1.30M
Nov 16 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$427 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$9,607
Tax year 2024
Assessed value
$1,844,000
Assessed 2024
Previous assessed
$1,844,000
+0.0% YoY
Effective rate
0.52%
On assessed value
Assessed land
$821,700
Assessed improvement
$1,022,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL-RESORT
Status
Off-Market
Year built
1882
Construction
FRAME
Heating
HOT WATER
Buildings
1
Stories
3
Units
1
Rooms
19
Bathrooms
4
Total area
3,174 SF
Lot
0.05 ac (2,091 SF)
Zoning code
TCC
APN
PROV M:11-1 P:18
UPID
US38-0389744
Jurisdiction
PROVINCETOWN
Zoning & alternative use
TCC · Provincetown, MA
Zoning TCC · permitted uses
TCC · Provincetown, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Provincetown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$2.1M
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1882
Construction
FRAME
Heating
HOT WATER
Stories
3
Buildings
1
Units
1
Rooms
19
Bathrooms
4
Lot
0.05 ac
Current owner
From public records · entity-resolved
198 Commercial Propco LLC
Entity
Mailing address
198 COMMERCIAL ST, PROVINCETOWN, MA 02657-2117
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 20, 2023
—
198 Commercial Propco LLC
—
Deed
related
$300,000 · Cape & Islands Community Development INC
Nov 16, 2020
$1,299,000
198 Commercial Propco LLC
Ranchwood INC
Quit Claim Arm's Length For Ne States
$649,500 · Cape Cod Cooperative Bank
Dec 15, 2011
—
Ranchwood INC
—
Deed Of Trust
related
$475,000 · Hingham Institute For Savings
Mar 28, 2003
$830,000
Ranchwood INC
Orion RT
Grant Deed
$581,000 · Compass Bank For Savings
Apr 30, 2001
—
Orion RT
—
Deed Of Trust
related
$633,750 · Seamens Savings Bank
Mar 21, 2000
$610,000
Orion RT
Davis,park H
Grant Deed
$645,000 · Seamens Savings Bank
Dec 12, 1996
—
Park H Davis
—
Deed Of Trust
related
$240,000 · Thomas M Sykes
May 15, 1995
$337,500
Park H Davis
Stilson,alton J
Grant Deed
$253,100 · Residential Mortgage Assoc
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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