Mixed-Use Retail and
For Sale
$710,000
734-738 Brock Ave, New Bedford, MA 02744
Well-maintained three-unit residential building plus a detached, vacant former barber shop offers flexible mixed-use options.
Property Size4,305 SF
Price / SF$164.92
Days on Market53
Property Features for 734-738 Brock Ave
General Information
Standard status
Active
Size
4,305 SF
Property subtype
4 Family - 4 Units Up/Down
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,540
Building Details
Building Size
4,305 SF
Year Built
1906
Listing Agency:
RE/MAX Vantage
Listed By:
Josiah Cordero
(508) 999-4424
Source:
Paulgrover
Added: Jul 15
Changed: Sep 4
Last Checked: Sep 4 at 12:14PM
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 RE/MAX Vantage
Investment Insights
Based on property information with market context.
This well-maintained mixed-use property includes a three-unit residential building along with a separate detached commercial building. The first and second floor apartments are vacant and have been recently refreshed with fresh paint, restored flooring, and new appliances, creating move-in-ready spaces. The third-floor unit is currently occupied by a tenant at will, providing immediate rental income while allowing for flexibility going forward.
The detached building was formerly operated as a barber shop and is now vacant, presenting an opportunity for a variety of commercial uses. The property is currently offered for sale as a single package, with both residential and commercial components under one ownership.
Overall, the configuration provides an owner-operator or investor with income from the occupied third-floor unit and additional space through the vacant residential apartments and the standalone commercial building.
The detached building was formerly operated as a barber shop and is now vacant, presenting an opportunity for a variety of commercial uses. The property is currently offered for sale as a single package, with both residential and commercial components under one ownership.
Overall, the configuration provides an owner-operator or investor with income from the occupied third-floor unit and additional space through the vacant residential apartments and the standalone commercial building.
Key Highlights
- Mixed‑use property with a three‑unit residential building plus a separate detached, vacant commercial building
- Year built: 1906 residential building
- First- and second‑floor apartments are vacant and recently refreshed with fresh paint, restored flooring, and new appliances
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
$61,882
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
8.72%
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%
$1,237,640
$1.2M
Cap Rate 7%
$884,029
$884.0K
Cap Rate 9%
$687,578
$687.6K
Market Conditions
NOI Build-Up for 4,305 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
$95.6K $22.20/SF
− Vacancy
−$7.2K −$1.67/SF
EGI
$88.4K $20.54/SF
− OpEx
−$26.5K −$6.16/SF
NOI
$61.9K $14.37/SF
Area
New Bedford, MA
Vacancy
7.50%
Lease Rate
$22.20 /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%
$1,237,640
Cap Rate 7%
$884,029
Cap Rate 9%
$687,578
Alternative Uses
Best Use
Multifamily LT 5
$884.0K
$773.5K – $1.03M
NOI $61,882 @ 7.0% cap · market cap 8.72%
Second Best
Retail
$831.7K
$727.8K – $970.4K
NOI $58,221 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,855 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Explore this area
Business Placement
Demographics for 02744, MA
13,055
Population
5,609
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
1.3 sq mi
ZIP Area
10,042
Density / Sq Mi
$54,841
Median Household Income
$36,799
Median Earnings
$1,133
Median Rent
$344,800
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?
Triplex - Well-maintained three-unit residential building plus a detached, vacant former barber shop offers flexible mixed-use options.
Where is this triplex located?
The property is located at 734-738 Brock Ave New Bedford, MA.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: Mixed‑use property with a three‑unit residential building plus a separate detached, vacant commercial building; Year built: 1906 residential building; First- and second‑floor apartments are vacant and recently refreshed with fresh paint, restored flooring, and new appliances
