Updated Office
For Sale
$385,000
2228 Acushnet Avenue, New Bedford, MA 02745
Flexible commercial layout with room-by-room plumbing, newer central air, and updated electrical systems.
Property Size928 SF
Price / SF$414.87
Days on Market9
Property Features for 2228 Acushnet Avenue
General Information
Standard status
Active
Size
928 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Amenities
newer central air
updated electrical
Building Details
Year Built
1955
Buildings
1
Listing Agency:
Lamacchia Realty,Inc
Listed By:
Linda Perry
(781) 878-2478
Source:
Trufantre
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 8:39PM
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.
Built in 1955, this 928-property-size office asset retains plumbing in each room, supporting a potential return to commercial use subject to zoning and permitting. The building was most recently used residentially after an earlier commercial use and includes newer central air and updated electrical systems.
The property is located at 2228 Acushnet Avenue in New Bedford’s North End, with access to major routes, shopping, restaurants, and other area amenities. Its existing configuration may accommodate office or service-oriented commercial uses, subject to applicable approvals.
The property is located at 2228 Acushnet Avenue in New Bedford’s North End, with access to major routes, shopping, restaurants, and other area amenities. Its existing configuration may accommodate office or service-oriented commercial uses, subject to applicable approvals.
Key Highlights
- Plumbing remains in place in each room
- Newer central air system
- Updated electrical systems
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
$14,031
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
3.64%
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%
$280,620
$280.6K
Cap Rate 7%
$200,443
$200.4K
Cap Rate 9%
$155,900
$155.9K
Market Conditions
NOI Build-Up for 928 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
$22.3K $24.00/SF
− Vacancy
−$3.6K −$3.84/SF
EGI
$18.7K $20.16/SF
− OpEx
−$4.7K −$5.04/SF
NOI
$14.0K $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%
$280,620
Cap Rate 7%
$200,443
Cap Rate 9%
$155,900
Alternative Uses
Best Use
Office B
$200.4K
$175.4K – $233.9K
NOI $14,031 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$273.6K
$239.4K – $319.2K
NOI $19,154 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Flexible commercial layout with room-by-room plumbing, newer central air, and updated electrical systems.
Where is this office units located?
The property is located at 2228 Acushnet Avenue New Bedford, MA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Plumbing remains in place in each room; Newer central air system; Updated electrical systems
