Mixed-Use Property with
For Sale
$675,000
34 West Rodney French Blvd, New Bedford, MA 02744
Mixed-use building along Rodney French Boulevard with refreshed residential units and multiple commercial and residential units delivered vacant.
Property Size4,273 SF
Days on Market33
Property Features for 34 West Rodney French Blvd
General Information
Standard status
Active
Size
4,273 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,734
Building Details
Building Size
4,273 SF
Year Built
1893
Listing Agency:
Lamacchia Realty, Inc
(508) 965-0103
Listed By:
Cheryl Perry
(508) 965-0103
Source:
Elliman
Added: Jul 21
Changed: Aug 14
Last Checked: Aug 21 at 12:03PM
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 Lamacchia Realty, Inc
Investment Insights
Based on property information with market context.
This mixed-use property includes commercial storefront space and residential units. The residential units have been refreshed with clean, modern finishes, and multiple units are delivered vacant at closing, providing flexibility for an investor or an owner-operator.
The property is positioned along the Rodney French Boulevard corridor with street presence. It is described as being just moments from Fort Taber Park, East Beach, New Bedford Harbor, the waterfront, ferry service to Martha’s Vineyard, downtown restaurants and shopping, and major commuter routes. WalkScore is listed as 85 (Very Walkable), BikeScore 57 (Bikeable), and transitScore 33 (Some Transit).
The property is positioned along the Rodney French Boulevard corridor with street presence. It is described as being just moments from Fort Taber Park, East Beach, New Bedford Harbor, the waterfront, ferry service to Martha’s Vineyard, downtown restaurants and shopping, and major commuter routes. WalkScore is listed as 85 (Very Walkable), BikeScore 57 (Bikeable), and transitScore 33 (Some Transit).
Key Highlights
- 1893‑built mixed‑use property on Rodney French Boulevard
- Mixed‑use setup with multiple commercial and residential units
- Refreshed residential units with clean, modern finishes
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
$57,788
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
8.56%
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%
$1,155,760
$1.2M
Cap Rate 7%
$825,543
$825.5K
Cap Rate 9%
$642,089
$642.1K
Market Conditions
NOI Build-Up for 4,273 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
$89.7K $21.00/SF
− Vacancy
−$7.2K −$1.68/SF
EGI
$82.6K $19.32/SF
− OpEx
−$24.8K −$5.80/SF
NOI
$57.8K $13.52/SF
Area
New Bedford, MA
Vacancy
8.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,155,760
Cap Rate 7%
$825,543
Cap Rate 9%
$642,089
Alternative Uses
Best Use
Retail
$825.5K
$722.4K – $963.1K
NOI $57,788 @ 7.0% cap · market cap 8.56%
Second Best
Mixed Use
$791.6K
$692.6K – $923.5K
NOI $55,410 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,195 @ 7.0% cap · market cap 13.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
27k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 25%
Electronics 3%
7-Eleven
Shops & Services
7,060 visits/mo
0.1 miles
Dunkin' Donuts
Dining
6,939 visits/mo
0.5 miles
Family Dollar
Shops & Services
6,593 visits/mo
0.3 miles
Wash World
Shops & Services
2,437 visits/mo
0.0 miles
Gulf Oil
Shops & Services
2,422 visits/mo
0.4 miles
Demographics for 02744, MA
13,055
Population
5,609
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
1.3 sq mi
ZIP Area
10,042
Density / Sq Mi
$54,841
Median Household Income
$36,799
Median Earnings
$1,133
Median Rent
$344,800
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?
Mixed-use property - Mixed-use building along Rodney French Boulevard with refreshed residential units and multiple commercial and residential units delivered vacant.
Where is this mixed-use property located?
The property is located at 34 West Rodney French Blvd New Bedford, MA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 1893‑built mixed‑use property on Rodney French Boulevard; Mixed‑use setup with multiple commercial and residential units; Refreshed residential units with clean, modern finishes
