Established Sports Pub with Real
For Sale
$1,650,000
Pending
218 Coggeshall St 1-3, New Bedford, MA 02745
Turnkey sports pub with real estate and development potential.
Property Size6,570 SF
Lot Size0.50 Acres
Days on Market132
Property Features for 218 Coggeshall St 1-3
General Information
Standard status
Pending
Size
6,570 SF
Lot size
0.50 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$19,700
Building Details
Building Size
6,570 SF
Year Built
1895
Listing Agency:
Coastal Realty
(508) 736-2387
Listed By:
Lori A. Nery · License #451501061
(508) 736-2387
Source:
Elliman
Added: Mar 31
Changed: Aug 8
Last Checked: Aug 8 at 5:30AM
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 features a long-established and well-known sports pub with real estate in New Bedford, Massachusetts. The property includes a residential/commercial building with three connected lots, plus an additional lot across the street, totaling over half an acre. Each parcel is separately deeded yet sold together, offering development and expansion potential. Anchoring the site is a recently renovated, fully operational restaurant featuring a full commercial kitchen, walk-in coolers, professional hood system, furniture, fixtures, and equipment, plus a valuable liquor license. The property is a turnkey business ready for immediate revenue. It benefits from frontage, exposure, and traffic along a busy corridor with access to major routes. Flexible zoning supports commercial and mixed-use possibilities. The location has a walk score of 92, indicating it is a walker's paradise, a bike score of 57, indicating it is bikeable, and a transit score of 37, indicating some transit options are available.
Key Highlights
- Turnkey, fully operational restaurant with a full commercial kitchen, walk‑in coolers, professional hood system, furniture, fixtures, equipment, and a valuable liquor license for immediate revenue generation.
- Prime location in the heart of vibrant New Bedford with excellent frontage and strong daily traffic.
- Significant development and expansion potential with 3 connected lots plus an additional lot across the street, totaling over half an acre, each separately deeded.
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
Retail
$1.27M
$1.11M – $1.48M
NOI $88,853 @ 7.0% cap · market cap 5.39%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
869
Businesses Nearby
174k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 49%
Dining 34%
Shops & Services 10%
Apparel 4%
Market Basket
Groceries
85,295 visits/mo
0.1 miles
McDonald's
Dining
24,283 visits/mo
0.2 miles
7-Eleven
Shops & Services
12,454 visits/mo
0.3 miles
Starbucks
Dining
12,366 visits/mo
0.1 miles
Popeyes Louisiana Kitchen
Dining
12,062 visits/mo
0.2 miles
Demographics for 02745, MA
25,336
Population
10,649
Households
2.4
Avg Household Size
41
Median Age
20%
College-Educated
83%
High-School Grad
9.8 sq mi
ZIP Area
2,585
Density / Sq Mi
$73,154
Median Household Income
$46,978
Median Earnings
$1,104
Median Rent
$339,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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- The Gallery Bar — 20 Kenyon St, New Bedford, MA 02740
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turnkey sports pub with real estate and development potential.
Where is this bar & pub located?
The property is located at 218 Coggeshall St 1-3 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: Turnkey, fully operational restaurant with a full commercial kitchen, walk‑in coolers, professional hood system, furniture, fixtures, equipment, and a valuable liquor license for immediate revenue generation.; Prime location in the heart of vibrant New Bedford with excellent frontage and strong daily traffic.; Significant development and expansion potential with 3 connected lots plus an additional lot across the street, totaling over half an acre, each separately deeded.
