Building Details

Tenancy Multi

Listing Agency: Coastal Commercial Real Estate l***@comcast.net Show Phone

Listed By: Lori A. Nery · License #451501061 Show Phone

Source: Moodyscre

Added: Jun 12 Changed: Jul 10 Last Checked: Aug 8 at 10:33AM

Report an Issue

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 Commercial Real Estate

Investment Insights

Based on property information with market context.

This turn-key two-unit commercial storefront has been recently renovated and is ready for immediate occupancy. The property includes two separate commercial units, with one established tenant generating $21,000 in annual rent and the second unit delivered vacant. Interior improvements include fresh paint, updated lighting, floor leveling, restroom updates, and a common sink area. Mechanical and related updates cited include an oil tank, a furnace expansion tank, and water shut-off valves. Tenant buildout features include new interior rooms, laundry hookups, lighting, exit signs, and a 240V outlet.

Located in the heart of Bliss Corner on a highly visible corner lot, the building is positioned in a thriving commercial district with strong exposure and accessibility. The two independent units offer flexibility for retail, professional services, or other business uses.

For tenants, the vacant unit can support an owner-occupant or an operator looking to move in with modernized finishes and storefront-ready buildout items. For investors or buyers, the existing in-place tenant provides current income while the second unit remains available to lease. Recent exterior updates include siding, downspouts, and gutters, helping round out the turn-key presentation and reduce near-term maintenance concerns.

Key Highlights

• Renovated 2‑unit commercial storefront property with 1 in‑place tenant and the 2nd unit delivered vacant
• Established tenant generates $21,000 annual rent
• Corner lot in a thriving commercial district with high visibility and accessibility

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

$33,189

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

6.04%

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%

$663,780 $663.8K

Cap Rate 7%

$474,129 $474.1K

Cap Rate 9%

$368,767 $368.8K

Market Conditions

NOI Build-Up for 1,616 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

$48.5K $30.00/SF

− Vacancy

−$1.1K −$0.66/SF

EGI

$47.4K $29.34/SF

− OpEx

−$14.2K −$8.80/SF

NOI

$33.2K $20.54/SF

Area

Bristol County, MA

Vacancy

2.20%

Lease Rate

$30.00 /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%

$663,780

Cap Rate 7%

$474,129

Cap Rate 9%

$368,767

Alternative Uses

Best Use

Retail

$474.1K

$414.9K – $553.2K (±1% cap)

NOI $33,189 @ 7.0% cap · market cap 6.04%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$984.1K

$861.1K – $1.15M (±1% cap)

NOI $68,888 @ 7.0% cap · market cap 12.54%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Village Travel Agency Travel Agency Village Travel Travel Agency

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Building Supply Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

50%

Occupancy

Multi-tenant

Tenancy

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

208

Businesses Nearby

3k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

BayCoast Bank Shops & Services

2,689 visits/mo 0.5 miles

Demographics for 02748, MA

11,888

Population

5,409

Households

2.2

Avg Household Size

52

Median Age

45%

College-Educated

89%

High-School Grad

23.2 sq mi

ZIP Area

512

Density / Sq Mi

$105,455

Median Household Income

$53,268

Median Earnings

$1,362

Median Rent

$482,500

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar For Sale Nearby

Medical-Ready Office Suite

South Dartmouth, MA 02748

$169,900

1,080 SF

View details

Auto Service Garage with Lift Bays

South Dartmouth, MA 02748

$2,900,000

1.02 Acres

View details

Similar Off Market Nearby

• Stop & Shop Florist — 438 Dartmouth St, New Bedford, MA 02740
• The Green Thumb — 294 Rockdale Ave, New Bedford, MA 02740
• Debbie's Flowers — 20 Vieira Ct, Dartmouth, MA 02748

Frequently Asked Questions

What type of property is this?

Storefront property - Renovated two-unit storefront property with an in-place tenant and a vacant unit for owner use or leasing.

Where is this storefront property located?

The property is located at 597 Dartmouth St South Dartmouth, MA.

What is the asking price?

The asking price for this property is $549,500.

What are key features of this property?

This property features: Renovated 2‑unit commercial storefront property with 1 in‑place tenant and the 2nd unit delivered vacant; Established tenant generates $21,000 annual rent; Corner lot in a thriving commercial district with high visibility and accessibility