Hospitality

The Waterford Inn & Spindler's Restaurant

386 Commercial St Provincetown, Massachusetts United States 02657-2319
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Key facts

Tenure Type Freehold
Building Area
Land Area ()
Number of units 15

Property description

Jones Lang LaSalle Americas, Inc. (“JLL”), a licensed real estate broker, is pleased to offer, on an exclusive basis, the fee simple interest in the Waterford Inn & Spindler’s Restaurant (individually the "Inn" or "Restaurant" and together the "Property") situated in Provincetown, Massachusetts.


The Property benefits from an ideal location on Commercial Street (only a short walk to the center of town), significant recent capital improvements and boundless historic charm. Provincetown is an ideal investment market given its high-barriers to entry and its reputation as a premier Cape Cod leisure getaway destination.


Investors may consider several value-add opportunities in the future including the potential to add rooms, reposition the food & beverage offering, or convert to alternate uses such as residential.

Investment highlights

Pent Up Leisure Demand: In the midst of a record-breaking season with long term tailwinds for drive-to leisure markets


Provincetown: One the most desirable leisure destinations in the Northeast, thriving housing market and relocation trends, high barriers to entry


A+ Location: Best location in Provincetown, within walking distance to everything – fast ferry pier, shops, restaurants, galleries, museums, festivals and pristine beaches


High-Quality Real Estate: Significant recent capital expenditures, high density with multiple indoor/outdoor uses


In-Place Cash Flow with Upside: Inn and restaurant operations with existing cash flow, opportunity to increase top- and bottom-line performance


Value-Add Opportunities: Potential to add rooms, reconfigure F&B space, expand staff housing, convert to alternate uses such as residential and/or mixed-use, brand/management potential


Opportunity Zone: Potential tax benefits 

Last Updated Date: 23 Jul 2021
Matthew Enright
Matthew Enright
Director, Capital Markets
Broker Licenses
9562307
Alan Suzuki
Alan Suzuki
Managing Director, Capital Markets
Broker Licenses
MA - 9527173

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Last Updated Date: 23 Jul 2021

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