Renovated Conventional
For Sale
$1,650,000
Pending
1-3-218 Coggeshall St, New Bedford, MA 02746
Operating restaurant with commercial kitchen, walk-in coolers, liquor license, and separately deeded parcels sold together.
Property Size6,570 SF
Days on Market155
Property Features for 1-3-218 Coggeshall St
General Information
Standard status
Pending
Size
6,570 SF
Restaurant
Commercial Hood
Yes
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Road Access
Yes
Land Use
commercial, residential
Taxes and HOA fees
Annual Taxes
$19,700
Listing Agency:
Coastal Realty
(508) 736-2387
Listed By:
Lori A. Nery · License #451501061
(508) 736-2387
Source:
Exprealty
Added: Mar 30
Changed: Aug 30
Last Checked: Aug 30 at 4:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coastal Realty
Investment Insights
Based on property information with market context.
This offering centers on a recently renovated, fully operating sports pub within a residential/commercial building at 1-3-218 Coggeshall St. The restaurant includes a full commercial kitchen, walk-in coolers, professional hood system, furniture, fixtures, and equipment, along with a liquor license. The property size is 6,570 square feet.
The real estate consists of three connected lots plus an additional lot across the street, totaling over half an acre. Each parcel is separately deeded, and all are being sold together. The site is positioned along a busy corridor in New Bedford with frontage, daily traffic exposure, and access to major routes. Flexible zoning supports commercial and mixed-use possibilities.
The real estate consists of three connected lots plus an additional lot across the street, totaling over half an acre. Each parcel is separately deeded, and all are being sold together. The site is positioned along a busy corridor in New Bedford with frontage, daily traffic exposure, and access to major routes. Flexible zoning supports commercial and mixed-use possibilities.
Key Highlights
- 6,570‑square‑foot residential/commercial building with an operating sports pub
- Recently renovated restaurant with full commercial kitchen and professional hood system
- Walk‑in coolers, furniture, fixtures, and equipment included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$98,451
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,969,020
$2.0M
Cap Rate 7%
$1,406,443
$1.4M
Cap Rate 9%
$1,093,900
$1.1M
Market Conditions
NOI Build-Up for 6,570 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$141.9K $21.60/SF
− Vacancy
−$10.6K −$1.62/SF
EGI
$131.3K $19.98/SF
− OpEx
−$32.8K −$5.00/SF
NOI
$98.5K $14.99/SF
Area
New Bedford, MA
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,969,020
Cap Rate 7%
$1,406,443
Cap Rate 9%
$1,093,900
Alternative Uses
Best Use
Specialty Retail
$1.41M
$1.23M – $1.64M
NOI $98,451 @ 7.0% cap · market cap 5.97%
Second Best
Mixed Use
$1.22M
$1.06M – $1.42M
NOI $85,196 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$1.94M
$1.70M – $2.26M
NOI $135,605 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Yes
Commercial hood
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
792
Businesses Nearby
183k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 47%
Dining 38%
Shops & Services 9%
Apparel 4%
Market Basket
Groceries
85,295 visits/mo
0.1 miles
McDonald's
Dining
24,283 visits/mo
0.0 miles
7-Eleven
Shops & Services
12,454 visits/mo
0.1 miles
Starbucks
Dining
12,366 visits/mo
0.0 miles
Popeyes Louisiana Kitchen
Dining
12,062 visits/mo
0.1 miles
Demographics for 02746, MA
17,355
Population
7,640
Households
2.3
Avg Household Size
33
Median Age
10%
College-Educated
67%
High-School Grad
2.8 sq mi
ZIP Area
6,198
Density / Sq Mi
$41,023
Median Household Income
$33,472
Median Earnings
$1,100
Median Rent
$324,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant with commercial kitchen, walk-in coolers, liquor license, and separately deeded parcels sold together.
Where is this conventional restaurant located?
The property is located at 1-3-218 Coggeshall St New Bedford, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 6,570‑square‑foot residential/commercial building with an operating sports pub; Recently renovated restaurant with full commercial kitchen and professional hood system; Walk‑in coolers, furniture, fixtures, and equipment included
