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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.
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