Three-Story Office
New
For Sale
$570,000
17 Orchard St, New Bedford, MA 02740
Downtown professional property with updated building systems, finished lower-level space, and flexible areas for office or storage use.
Property Size3,232 SF
Price / SF$176.36
Days on Market5
Property Features for 17 Orchard St
General Information
Standard status
Active
Size
3,232 SF
Building Details
Year Built
1958
Buildings
1
Stories
3
Listing Agency:
Coastal Realty
(508) 990-4280
Listed By:
Lori A. Nery · License #451501061
Source:
Alpernandmesenbourg
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 28 at 9:50AM
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.
Built in 1958, this 3,232-square-foot office property spans three stories and includes a newly added third floor for additional offices, creative workspace, or storage. The finished basement expands usable space and contains an additional restroom. Exterior improvements include Everlast lifetime siding, Kolbe windows, Azek trim and railings, a cupola, and architectural mouldings.
Updated electrical and HVAC systems, along with an updated roof, support contemporary office operations. The property is in Downtown New Bedford, minutes from Route 18, courthouses, museums, hotels, and restaurants. Its configuration is suited to professional office users, including law firms, therapists, wellness providers, and spa services.
Updated electrical and HVAC systems, along with an updated roof, support contemporary office operations. The property is in Downtown New Bedford, minutes from Route 18, courthouses, museums, hotels, and restaurants. Its configuration is suited to professional office users, including law firms, therapists, wellness providers, and spa services.
Key Highlights
- 3,232‑square‑foot office building with three stories
- New 3rd floor provides additional office, creative, or storage space
- Finished basement adds usable area and includes an additional restroom
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
$48,868
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
8.57%
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%
$977,360
$977.4K
Cap Rate 7%
$698,114
$698.1K
Cap Rate 9%
$542,978
$543.0K
Market Conditions
NOI Build-Up for 3,232 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
$77.6K $24.00/SF
− Vacancy
−$12.4K −$3.84/SF
EGI
$65.2K $20.16/SF
− OpEx
−$16.3K −$5.04/SF
NOI
$48.9K $15.12/SF
Area
New Bedford, MA
Vacancy
16.00%
Lease Rate
$24.00 /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%
$977,360
Cap Rate 7%
$698,114
Cap Rate 9%
$542,978
Alternative Uses
Best Use
Office B
$698.1K
$610.9K – $814.5K
NOI $48,868 @ 7.0% cap · market cap 8.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$953.0K
$833.9K – $1.11M
NOI $66,708 @ 7.0% cap · market cap 11.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,573
Businesses Nearby
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Downtown professional property with updated building systems, finished lower-level space, and flexible areas for office or storage use.
Where is this office building located?
The property is located at 17 Orchard St New Bedford, MA.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: 3,232‑square‑foot office building with three stories; New 3rd floor provides additional office, creative, or storage space; Finished basement adds usable area and includes an additional restroom
