Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    319 Union St 1 New Bedford, MA 2740

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,000 /Mo

    Office space near courthouse and downtown with full bath.

    Type:Commercial
    Added:
    Apr 24, 2026
    Days on Market:
    4
    Last Refresh:
    Apr 24 at 5:36 pm

    Property Features for 319 Union St 1

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1889

    We can help!

    Listing Contact
    Byron R. Ford Jr

    Listing agent Byron R. Ford Jr License #451501848

    Listing office

    Listing date Apr 24, 2026

    Source Elliman

    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 Byron R. Ford Jr

    Overview

    Ground Level Office Near Downtown

    This ground-level office rental is located one block from County Street, near the superior court and historic downtown area. The property includes a full bath and a pantry. The location has a bike score of 66, indicating it is bikeable, a walk score of 84, indicating it is very walkable, and a transit score of 33, indicating some transit options are available. This space presents an opportunity for a business or professional office.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Bedford
    County
    Bristol
    State
    Massachusetts
    Longitude
    -70.9311988
    Latitude
    41.6338537

    Nearby Similar for Lease

    • $2,250/Mo

      Downtown Retail Unit in New Bedford

      Versatile retail unit with high visibility and foot traffic.
      290 Union St. unit: A, New Bedford, MA 02740
      View Details
    • $1,775/Mo

      Downtown New Bedford Office Suite

      Restored first-floor office suite in downtown New Bedford.
      150 8th St A, New Bedford, MA 02740
      View Details
    • $3,000/Mo

      Downtown New Bedford Retail/Office Space

      Turnkey, updated space in a vibrant downtown location.
      1 Johnny Cake Hill #3, New Bedford, MA 02740
      View Details
    • $3,000/Mo

      Downtown New Bedford Retail/Office Space

      Turnkey, updated retail/office space in a vibrant downtown location.
      1 Johnny Cake Hl 3, New Bedford, MA 02740
      View Details
    • $1,400/Mo

      Upscale Office Space Available

      Office space in New Bedford National Park Historic District.
      13R Hamilton, New Bedford, MA 02740
      View Details
    • $2,200/Mo

      Classic Office Space Available

      Spacious office in a classic building with refinished floors.
      305 Nash Road, New Bedford, MA 02746
      View Details
    • $1,400/Mo

      Upscale Office Space Available

      Office space in New Bedford's Historic District available June 2026.
      13R Hamilton, New Bedford, MA 02740
      View Details
    • $5,000/Mo

      Downtown Pub/BBQ Ready Location

      Downtown property designed as a pub/BBQ location with updates.
      250 Union St, New Bedford, MA 02740
      View Details
    • $2,250/Mo

      Downtown Retail Space with Kitchen

      Versatile retail space in downtown New Bedford with commercial kitchen.
      290 Union St. #A, New Bedford, MA 02740
      View Details
    • $12 SF/Yr

      High-Traffic Commercial Plaza Available

      Thriving commercial plaza with excellent visibility and access.
      950 Kings Hwy 18, New Bedford, MA 02745
      View Details
    • $3,400/Mo

      Downtown Office Suite For Rent

      Modern, renovated office suite in iconic downtown building.
      555 Pleasant St #Suite 4, New Bedford, MA 02740
      View Details
    • $550/Mo

      Downtown Office Space For Rent

      Modern, renovated office space in iconic downtown building.
      555 Pleasant St #3AR2, New Bedford, MA 02740
      View Details

    FAQs

    What type of property is this?
    Office units - Office space near courthouse and downtown with full bath.
    Where is this office units located?
    The property is located at 319 Union St 1 New Bedford, MA.
    What is the lease rate?
    The lease rate is $1,000 /Mo.
    What are key features of this property?
    This property features: Very walkable location with a Walk Score of 84; Ground level office space; One block from County St.
    (508) 717-5566
    We can help!
    Listing Contact
    Byron R. Ford Jr
    Real Estate License ID: 451501848
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!