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    269 Commercial St Provincetown, MA 02657
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    269 Commercial St Provincetown, MA 02657

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    • Commercial real estate
    • 9,575 SF
    For Sale
    $2,975,000
    View Listing →
    Waterfront Commercial Building in Provincetown For Sale
    $2,975,000
    3,427 SF

    Waterfront Commercial Building in Provincetown

    Rare opportunity: waterfront commercial building with restaurant and residence.

    269 - 271 Commercial Street, Provincetown, MA 02657
    View Listing
    Property ID
    US38-2552951
    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

    • Tin Pan Alley / Restaurant
    • Sargent's Wharf Parking Lot / Parking Lot & Garage

    Property Details for 269 Commercial St

    Year built
    1890
    Property size
    9,575 SF
    Property type
    Commercial real estate

    Description

    Center of Town, Mixed Use Waterfront Property in Provincetown overlooking Provincetown Harbor is now available for sale. The sale includes the business and real estate. 269 -271 Commercial Street sits directly across from Town Hall in the absolute center of the Provincetown market. The sale includes the land, building, improvements, business, equipment and brand known as Tin Pan Alley Restaurant. The first floor consists of a full service restaurant with multiple seating areas, front bar / entertainment area and commercial kitchen. The second and third floors consist of a four bedroom residence. The 3,427 square foot building is situated on a 3,255 square foot lot. The property enjoys its location with the benefit of high foot and vehicle traffic. Substantial improvements including but not limited to mechanicals, new grease interceptor, windows, convection oven, boiler / heating system, roof and much much more! Strong financials, location, signage, frontage, and condition make this a MUST SEE for anyone looking for their DREAM Beachfront Restaurant location in Provincetown. Live, Work and Play at your waterfront property! Or purchase and lease out for a passive income investment!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Provincetown
    County
    Barnstable
    State
    Massachusetts
    Longitude
    -70.1870719
    Latitude
    42.0508664

    Comparable in this City

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      Prime Commercial Property with Bay Views

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    Similar Nearby for Sale

    • Contact for pricing
      1,087 SF

      Provincetown Commercial Catering Business

      Established Catering Business, Turnkey Operation
      43 Race Point Rd, Provincetown, MA 02657
      View Details
    • $2,995,000

      Waterfront Property in Provincetown

      3,074 sq. ft. waterfront property with 968 sq. ft. deck.
      193A Commercial St, Provincetown, MA 02657
      View Details
    • Contact for pricing

      Waterfront Restaurant and Residence

      Provincetown harborfront building with restaurant and residential space for sale.
      269 Commercial St, Provincetown, MA 02657
      View Details
    • $100,000
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      Waterfront Restaurant Opportunity

      Prime waterfront restaurant location in Provincetown with high traffic.
      317 Commercial St, Provincetown, MA 02657
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    • Contact for pricing
      3,013 SF

      Professional Retail or Office Space

      Street-facing commercial space in established complex, suitable for various businesses.
      30 Conwell St, Provincetown, MA 02657
      View Details
    • $3,950,000
      6,148 SF

      Prime Commercial Property with Bay Views

      Classic mixed-use property in the heart of Provincetown with bay views.
      265 Commercial St, Provincetown, MA 02657
      View Details

    Similar Nearby for Lease

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    • $100,000
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      Waterfront Restaurant in Provincetown Available

      Provincetown waterfront restaurant for lease with harbor views.
      317 Commercial St, Provincetown, MA 02657
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    • $6,000 /Mo
      3,013 SF

      Turnkey Office Space Available

      Professional office space for lease in established Provincetown office complex.
      30 Conwell St, Provincetown, MA 02657
      View Details
    View Listing
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    Provincetown, MA 02657
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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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    269 Commercial St, Provincetown, MA, 02657
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