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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Banks
221-223 Commercial St, Provincetown, MA 02657
Individually Owned
32-yr Hold
Free & Clear
Property ID
US38-1211422
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,831 SF
Lot
0.36 ac (15,856 SF)
Zoning code
TCC
APN
PROV M:11-1 P:1
UPID
US38-1211422
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$395k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$829k
Blend (final)
Blend
$610k
Owner & transaction history
Seamens Bk · 32 yrs held
Seamens Bk
since 1993
6 recorded transactions
Zoning & alternative use
TCC · Provincetown, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$745,000
+12.8%
Medical building
$700,000
+5.9%
Apartment house (5+ units)
$690,000
+4.8%
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
by Request
ML approach
$395,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$660,000
Current use
RESTAURANT
$745,000
Change: +13% · Conversion: Difficult
MEDICAL BUILDING
$700,000
Change: +6% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$690,000
Change: +5% · Conversion: Difficult
AUTO REPAIR, GARAGE
$615,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±10%
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
$89 / 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
$26,906
Tax year 2024
Assessed value
$5,164,300
Assessed 2024
Previous assessed
$5,164,300
+0.0% YoY
Effective rate
0.52%
On assessed value
Assessed land
$2,520,500
Assessed improvement
$2,643,800
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Rooms
14
Bathrooms
3
Total area
6,831 SF
Lot
0.36 ac (15,856 SF)
Zoning code
TCC
APN
PROV M:11-1 P:1
UPID
US38-1211422
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
FINANCIAL BUILDING Current
Est. value
$660,000
RESTAURANT
Est. value
$745,000
MEDICAL BUILDING
Est. value
$700,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$690,000
AUTO REPAIR, GARAGE
Est. value
$615,000
FINANCIAL BUILDING Current
RESTAURANT
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Rooms
14
Bathrooms
3
Lot
0.36 ac
Current owner
From public records · entity-resolved
Seamens Bk
Individual
Free & Clear · 32 yrs held
Mailing address
PO BOX 74, NORTH TRURO, MA 02652-0074
Ownership since
1993
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 1993
$139,800
Seamens Bk
Bishop,stuart S JR
Grant Deed
related
—
May 9, 1990
—
Rosemary Therese Cook
—
Deed Of Trust
related
$60,000 · Seamens Savings Bank
Dec 15, 1989
—
Clarence W Crawley
—
Deed Of Trust
related
$60,000 · Seamens Savings Bank
Dec 12, 1989
—
End Gull Hill Lands
—
Deed Of Trust
related
$130,000 · Seamens Savings Bank
Nov 9, 1989
—
Marilyn J Downey
—
Deed Of Trust
related
$90,000 · Seamens Savings Bank
Jun 26, 1987
—
Stuart S Bishop JR.
—
Deed Of Trust
related
$200,000 · Seamens Savings Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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