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    20 Bank St Wellfleet, MA 02667
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    Property profile & analytics

    20 Bank St, Wellfleet, MA 02667

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    • Investment properties
    • 3,119 SF
    • 0.26 lot acres
    For Sale
    $1,350,000
    View Listing →
    Charming Gallery Near Wellfleet Center For Sale
    $1,350,000

    Charming Gallery Near Wellfleet Center

    Unique property blending history with creative potential near Wellfleet's village.

    20 Bank Street, Wellfleet, MA 2667
    View Listing
    Property ID
    US38-1371233
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Blue Heron Gallery / Art Gallery

    Property Details for 20 Bank St

    Year built
    1945
    Construction
    FRAME
    Lot size
    0.26 lot acres
    Zone code
    CENTRA
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    WELL M:015.0 B:0085 L:0000.0
    APU
    WELLM0150B0085L00000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 26, 2004 — Royal C Thurston 3rd — Deed Of Trust · related $234k · Cape Cod Five Cent Bank
    Jan 16, 1998 $350,000 Royal C Thurston 3rd Rubin,harriet F Grant Deed $250k · Zenon Grzybowski
    Jan 16, 1998 — Royal C Thurston 3rd — Deed Of Trust · related $150k · Zenon Grzybowski

    Description

    This captivating 0.26-acre property at 20 Bank Street, Wellfleet, MA, presents a unique investment opportunity. Originally built in 1946 as the Orchard Grille, it later became the renowned Blue Heron Gallery in 1978. The building is zoned for both multi-use commercial and residential purposes, offering exceptional flexibility for the new owner. Currently operating as an art gallery, the property boasts significant character and charm, ready for immediate use or creative transformation. The interior offers the potential for a comfortable residential conversion, including two bedrooms, allowing for a blend of work and living space. Imagine waking up to breathtaking harbor views, a truly idyllic setting. The property has been meticulously maintained, showcasing pride of ownership. Recent improvements include a newer roof, updated landscaping, modern windows, and Azek trim, ensuring the property is in excellent condition. Priced at $1,350,000, this property represents a chance to own a piece of Wellfleet's rich history and create a unique and profitable venture. The property's location just off Main Street provides excellent visibility and accessibility. Don't miss this rare opportunity to acquire a versatile and historically significant property in the desirable town of Wellfleet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $725,000
      6.5%
      $670,000
      7%
      $620,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wellfleet
    County
    Barnstable
    State
    Massachusetts
    Longitude
    -70.0304
    Latitude
    41.9376
    CBSA code
    12700
    CBSA name
    BARNSTABLE TOWN, MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2018
    $3,965
    $451,200
    $259,900
    $711,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      2,340 SF

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      View Details
    • Value Estimation by Request
      2,551 SF

      5 Commercial St

      OFFICE/RESIDENTIAL (MIXED USE)
      5 Commercial St, Wellfleet, MA 02667-7447
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    • Value Estimation
      $910,000
      1,782 SF

      354 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      354 Main St, Wellfleet, MA 02667
      View Details
    • Value Estimation
      $535,000
      3,528 SF

      3073 State Hwy Rte 6th 6

      OFFICE/RESIDENTIAL (MIXED USE)
      3073 State Hwy Rte 6th 6, Wellfleet, MA 02667-7406
      View Details
    • Value Estimation
      $845,000
      3,275 SF

      317 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      317 Main St, Wellfleet, MA 02667-7432
      View Details
    • Value Estimation by Request
      1,224 SF

      26 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      26 Main St, Wellfleet, MA 02667
      View Details

    Similar Nearby for Sale

    • $1,350,000
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      Commercial/Residential property with endless potential in a sought-after location.
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      View Details
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      Charming Commercial Property in Wellfleet

      Commercial/Residential property with endless potential in the heart of Wellfleet.
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      Charming Gallery Near Wellfleet Center

      Unique property blending history with creative potential near Wellfleet's village.
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      Wellfleet Homesite Opportunity

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    View Listing
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    Wellfleet, MA 02667
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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.

    More about this property
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