This property, 386, 392 and 392A Commercial Street, Provincetown, MA, consists of an improved 8,712± SF lot of land. The Property is improved with four structures. The right front section of the lot contains a two-story restaurant with 2,406 square feet of building area and a semi-detached 308 square foot space which serves the public outside of the restaurant. The current restaurant has 50 interior seats and 95 seasonal seats for a total capacity of 145. The rear of the lot is improved with a three-story inn/guest house structure with 5,319 square feet; there is also a detached one bedroom guest cottage with 424 square feet of living area. Recent capital spending on the property, including, but not limited to construction, miscellaneous repairs, and grounds/landscaping totals approximately $1,828,000. The inn building contains 15 guest rooms. The rooms have private bathrooms with stall showers. The current tenant holds an inn holder license versus the more common guest house license and as such can provide food and liquor services from the property's restaurant. The property is situated between Pearl and Law Streets. Commercial Street is a one lane, one-way west paved roadway with four foot wide brick paved sidewalk on the north side with granite curbing. There is parallel parking on the north side; no parking on the south side. The property is located in the Commercial Street retail area of Provincetown and lies within the Historic District. The property is considered as a legal, non-conforming use. According to the FEMA Map No. 250010116, the site is not located in a flood plain.
Terms: $50,000.00 non refundable deposit shall be paid in cash or bank cashier's check by the purchaser at the time and place of sale, and the balance to be paid in cash or by certified or bank cashier's check within 30 days of the sale. All bidders must exhibit said required deposit to the auctioneer immediately prior to the auction sale in order to qualify as a bidder. Other terms to be announced at the sale. Not a representation or warranty by the auctioneer, mortgagee or their attorney. Auctioneer not responsible for errors or omissions.
