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Property profile & analytics
OFF-MARKET
Estimated value
$7,185,000
Hotels
243 Commercial St 249 Provincetown, MA 02657-2201
Entity Owned
Free & Clear
Property ID
US38-1263767
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1999
Construction
FRAME
Total area
20,426 SF
Lot
0.44 ac (19,079 SF)
Zoning code
TCC
APN
PROV M:11-3 P:30
UPID
US38-1263767
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
$7.11M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.96M
Blend (final)
Blend
$7.19M
Owner & transaction history
Crown & Anchor Hldg LLC
Crown & Anchor Hldg LLC
since 2026
Last sale
$7.3M
7 recorded transactions
Zoning & alternative use
TCC · Provincetown, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$6,990,000
ML approach
$7,110,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$6,705,000
Current use
Blend value · Realmo final
$7.19M
Range $6.47M – $7.90M · ±10% · vs last sale $7.32M (Nov 29 2021)
Last sale anchor
$7.32M
Nov 29 2021
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
$352 / 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
$50,652
Tax year 2024
Assessed value
$9,722,100
Assessed 2024
Previous assessed
$9,722,100
+0.0% YoY
Effective rate
0.52%
On assessed value
Assessed land
$3,715,300
Assessed improvement
$6,006,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Status
Off-Market
Year built
1999
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Rooms
30
Bathrooms
26
Total area
20,426 SF
Lot
0.44 ac (19,079 SF)
Zoning code
TCC
APN
PROV M:11-3 P:30
UPID
US38-1263767
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
$6.7M
HOTEL/MOTEL Current
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
1999
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Rooms
30
Bathrooms
26
Lot
0.44 ac
Current owner
From public records · entity-resolved
Crown & Anchor Hldg LLC
Entity
Free & Clear · 0 yrs held
Mailing address
635 COMMERCIAL ST, PROVINCETOWN, MA 02657-1723
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 23, 2026
$10,500,000
Crown & Anchor Hldg LLC
Anchor In Town LLC
Deed
—
Nov 29, 2021
$7,316,288
Anchor In Town LLC
Crown&anchor LLC
Quit Claim Arm's Length For Ne States
$5,250,000 · Seamens Savings Bank
Jan 25, 2008
—
Crown&anchor LLC
—
Deed Of Trust
related
$2,454,223 · Seamens Savings Bank
Dec 31, 2002
—
Crown&anchor LLC
—
Deed Of Trust
related
$250,000 · South Eastern Econ Dev Corp
Dec 10, 2002
—
Crown&anchor LLC
—
Deed Of Trust
related
$240,000 · Seamens Savings Bank
Aug 21, 2002
—
Crown&anchor LLC
—
Deed Of Trust
related
$100,000 · Citizens Bank Of Ma
May 14, 2001
—
Crown & Anchor LLC
—
Deed Of Trust
related
$2,672,648 · Citizens Bank
Apr 4, 2001
$2,280,675
Crown & Anchor LLC
Lee Morgan T
Grant Deed
$179,422 · Zuckerman Family Nomi
Apr 4, 2001
—
Crown & Anchor LLC
—
Deed Of Trust
related
$485,000 · Zwi Kohorn
Feb 12, 2001
—
Morgan T Lee
—
Deed Of Trust
related
$52,042 · William N Rogers 2nd
Mar 29, 2000
—
Morgan T Lee
—
Deed Of Trust
related
$1,000,000 · South Eastern Econ Dev Corp
Mar 16, 2000
—
Morgan T Lee
—
Deed Of Trust
related
$2,367,000 · Citizens Bank Of Ma
Feb 4, 1999
—
Morgan T Lee
—
Deed Of Trust
related
$280,967 · Misc Other
Apr 25, 1994
—
Morgan T Lee
—
Deed Of Trust
related
$50,000 · Sandwich Cp Bank
May 20, 1987
$1,690,000
Kenneth L Lemon
Vann,henry D JR
Grant Deed
$750,000 · Seamens Savings Bank
May 20, 1987
—
Kenneth L Lemon
—
Deed Of Trust
related
$75,000 · Zwi Kohorn
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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