Auto Shop Facility with Two
For Sale
$1,650,000
223-225 Kempton Street, New Bedford, MA 02740
Two individually deeded buildings support a fully equipped collision-repair operation.
Property Size9,592 SF
Price / SF$172.02
Days on Market136
Property Features for 223-225 Kempton Street
General Information
Standard status
Active
Size
9,592 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1979
Buildings
2
Listing Agency:
Coastal Realty
(508) 990-4280
Listed By:
Lori A. Nery · License #451501061
Source:
Hgjohnsonrealestate
Added: Apr 7
Changed: Aug 18
Last Checked: Aug 19 at 10:54AM
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 9,592-square-foot auto shop property includes two separate buildings positioned on opposite sides of the street, with each structure individually deeded. The improvements support collision repair, frame straightening, automotive painting, and insurance-approved work. A spray booth, multiple work bays, tools, fixtures, and equipment are included, along with on-site parking.
The property is located on Route 6 with access to Route 195 and established traffic exposure. Built in 1979, the layout brings together specialized automotive work areas and supporting equipment across the two-building configuration.
The property is located on Route 6 with access to Route 195 and established traffic exposure. Built in 1979, the layout brings together specialized automotive work areas and supporting equipment across the two-building configuration.
Key Highlights
- 9,592 SF auto shop property with two separate buildings
- Two buildings are individually deeded and located on opposite sides of the street
- Spray booth and multiple work bays included
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
$129,722
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
7.86%
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%
$2,594,440
$2.6M
Cap Rate 7%
$1,853,171
$1.9M
Cap Rate 9%
$1,441,356
$1.4M
Market Conditions
NOI Build-Up for 9,592 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
$201.4K $21.00/SF
− Vacancy
−$16.1K −$1.68/SF
EGI
$185.3K $19.32/SF
− OpEx
−$55.6K −$5.80/SF
NOI
$129.7K $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%
$2,594,440
Cap Rate 7%
$1,853,171
Cap Rate 9%
$1,441,356
Alternative Uses
Best Use
Retail
$1.85M
$1.62M – $2.16M
NOI $129,722 @ 7.0% cap · market cap 7.86%
Second Best
Industrial
$1.35M
$1.18M – $1.57M
NOI $94,415 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$2.83M
$2.47M – $3.30M
NOI $197,979 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,172
Businesses Nearby
51k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 25%
Hotels & Casinos 3%
McDonald's
Dining
19,099 visits/mo
0.1 miles
KFC
Dining
14,064 visits/mo
0.1 miles
Bank of America
Shops & Services
11,555 visits/mo
0.3 miles
Dunkin' Donuts
Dining
3,457 visits/mo
0.3 miles
New Bedford Harbor Hotel
Hotels & Casinos
1,798 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Two individually deeded buildings support a fully equipped collision-repair operation.
Where is this auto shop located?
The property is located at 223-225 Kempton Street 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: 9,592 SF auto shop property with two separate buildings; Two buildings are individually deeded and located on opposite sides of the street; Spray booth and multiple work bays included
