Mixed-Use Convenience Store
For Sale
$535,000
282 Allen St, New Bedford, MA 02740
Renovated mixed-use building with a convenience store unit and a renovated 4-bedroom unit above.
Property Size2,287 SF
Days on Market23
Property Features for 282 Allen St
General Information
Standard status
Active
Size
2,287 SF
Property subtype
Multi Family Home
Zoning
MUB
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,792
Building Details
Building Size
2,287 SF
Year Built
1894
Stories
2
Units
2
Listing Agency:
Conway - Dartmouth
(508) 294-2149
Listed By:
Maria Fontes
(508) 294-2149
Source:
Aucoinryanrealty
Added: Jul 21
Changed: Aug 8
Last Checked: Aug 11 at 1:45PM
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 Conway - Dartmouth
Investment Insights
Based on property information with market context.
This renovated mixed-use building includes a commercial convenience store unit currently operating on the first level, with a 4-bedroom residential unit above. Reported updates include a new roof, a new sewer line, new heating, new flooring, and a cooler. The second unit has been renovated to studs.
The property is described as being near St. Luke’s Hospital and other medical facilities, with proximity to a highway, schools, and parks.
The seller notes that various types of business may be possible as long as the City allows. A lottery may be applied for in the new name, and liquor and tobacco licensing is not included.
The property is described as being near St. Luke’s Hospital and other medical facilities, with proximity to a highway, schools, and parks.
The seller notes that various types of business may be possible as long as the City allows. A lottery may be applied for in the new name, and liquor and tobacco licensing is not included.
Key Highlights
- Renovated mixed‑use building (Year built 1894) with commercial and residential units
- Commercial convenience store unit with a renovated 4‑bedroom unit above
- Recent updates include a new roof, new sewer line, new heating, and new floor and cooler
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
$34,271
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
6.41%
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%
$685,420
$685.4K
Cap Rate 7%
$489,586
$489.6K
Cap Rate 9%
$380,789
$380.8K
Market Conditions
NOI Build-Up for 2,287 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
$49.4K $21.60/SF
− Vacancy
−$3.7K −$1.62/SF
EGI
$45.7K $19.98/SF
− OpEx
−$11.4K −$5.00/SF
NOI
$34.3K $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%
$685,420
Cap Rate 7%
$489,586
Cap Rate 9%
$380,789
Alternative Uses
Best Use
Specialty Retail
$489.6K
$428.4K – $571.2K
NOI $34,271 @ 7.0% cap · market cap 6.41%
Second Best
Multifamily LT 5
$469.6K
$410.9K – $547.9K
NOI $32,874 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$674.3K
$590.1K – $786.7K
NOI $47,204 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,453
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02740, MA
45,166
Population
20,532
Households
2.2
Avg Household Size
39
Median Age
18%
College-Educated
77%
High-School Grad
5.7 sq mi
ZIP Area
7,924
Density / Sq Mi
$54,563
Median Household Income
$39,310
Median Earnings
$1,052
Median Rent
$303,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Seabra Foods New BedFord — 41 Rockdale Ave, New Bedford, MA 02740
- Price Rite Marketplace of S. New Bedford — 39 SOUTH ST &, JFK HIGHWAY S, New Bedford, MA 02740
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Renovated mixed-use building with a convenience store unit and a renovated 4-bedroom unit above.
Where is this grocery and convenience store located?
The property is located at 282 Allen St New Bedford, MA.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Renovated mixed‑use building (Year built 1894) with commercial and residential units; Commercial convenience store unit with a renovated 4‑bedroom unit above; Recent updates include a new roof, new sewer line, new heating, and new floor and cooler
