Mixed-Use Property with Convenience
For Sale
$899,900
67-69 Austin St, New Bedford, MA 02740
Mixed-use asset combining a leased convenience store, residential accommodations, and additional workshop and storage space.
Property Size4,954 SF
Price / SF$181.65
Days on Market232
Property Features for 67-69 Austin St
General Information
Standard status
Active
Size
4,954 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
MUB
Net Operating Income
$78,060
Taxes and HOA fees
Annual Taxes
$6,842
Building Details
Building Size
4,954 SF
Year Built
1880
Stories
7
Tenancy
Multi
Listing Agency:
Atlantic Properties
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jan 10
Changed: Aug 29
Last Checked: Aug 30 at 1:58PM
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 Atlantic Properties
Investment Insights
Based on property information with market context.
Located at 67-69 Austin St in New Bedford, Massachusetts, this mixed-use property dates to 1880 and carries MUB zoning. The property includes a leased convenience store, residential townhouse-style accommodations, and a workshop/storage building measuring 1000+ square feet. The additional building is currently used by the owner rather than leased.
Five storage containers are included and will remain with the property. The combination of retail, residential, workshop, and container storage components creates a varied income-property configuration, with the owner-occupied ancillary space representing a separate component from the leased areas.
Five storage containers are included and will remain with the property. The combination of retail, residential, workshop, and container storage components creates a varied income-property configuration, with the owner-occupied ancillary space representing a separate component from the leased areas.
Key Highlights
- Leased convenience store included in the mixed‑use property
- 1000+ Sq Ft workshop/storage building currently used by the owner
- Five storage containers remain with the property
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
$74,236
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
8.25%
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%
$1,484,720
$1.5M
Cap Rate 7%
$1,060,514
$1.1M
Cap Rate 9%
$824,844
$824.8K
Market Conditions
NOI Build-Up for 4,954 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
$107.0K $21.60/SF
− Vacancy
−$8.0K −$1.62/SF
EGI
$99.0K $19.98/SF
− OpEx
−$24.7K −$5.00/SF
NOI
$74.2K $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%
$1,484,720
Cap Rate 7%
$1,060,514
Cap Rate 9%
$824,844
Alternative Uses
Best Use
Specialty Retail
$1.06M
$928.0K – $1.24M
NOI $74,236 @ 7.0% cap · market cap 8.25%
Second Best
Multifamily LT 5
$1.02M
$890.1K – $1.19M
NOI $71,211 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,251 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
757
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use asset combining a leased convenience store, residential accommodations, and additional workshop and storage space.
Where is this mixed-use property located?
The property is located at 67-69 Austin St New Bedford, MA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Leased convenience store included in the mixed‑use property; 1000+ Sq Ft workshop/storage building currently used by the owner; Five storage containers remain with the property
