Climate-Controlled Storage Facility For
For Sale
Contact for pricing
91 Cove St, New Bedford, MA 02744
Converted in 2023, this facility offers significant growth potential.
Property Size91,858 SF
Days on Market117
Property Features for 91 Cove St
General Information
Standard status
Active
Size
91,858 SF
Property subtype
INDUSTRIAL
Listing Agency:
Matthews Real Estate Investment Services | Dallas
(678) 576-1780
Listed By:
Austin McLeod · License #CQ1066435,BK3554632(FL)
(678) 576-1780
Source:
Moodyscre
Added: Apr 28
Changed: Aug 16
Last Checked: Aug 22 at 6:15AM
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 Matthews Real Estate Investment Services | Dallas
Investment Insights
Based on property information with market context.
This is a climate-controlled storage facility with approximately 91,858 net rentable square feet. Converted in 2023, the property is located in an area with a strong population density, with over 85,000 people living within a 3-mile radius and 131,000 people within a 5-mile radius. The area has limited self-storage supply, with 5.03 square feet per capita in a 3-mile radius and 8.35 square feet per capita in a 5-mile radius. A significant percentage of renters occupy the surrounding area, with 73.84% within a 1-mile radius, 56.98% within a 3-mile radius, and 53.39% within a 5-mile radius. There is potential to increase rental rates, which are currently below market value, by over 20%. The property also benefits from a solar lease that pays $57,000 per year, with annual increases of 1.9%. Approximately 11 years remain on the term. There is approximately 60,000 gross square feet that can be further converted. Over $200 million is in the residential development pipeline within a 5-mile radius.
Key Highlights
- Significant potential to increase rental rates (over 20%) due to below‑market pricing.
- High demand due to limited self‑storage supply (5.03 sq ft/capita in 3‑mile radius).
- Strong population density (85,000+ in 3‑mile radius) and high percentage of renters.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
674
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Converted in 2023, this facility offers significant growth potential.
Where is this self storage facility located?
The property is located at 91 Cove St New Bedford, MA.
What are key features of this property?
This property features: Significant potential to increase rental rates (over 20%) due to below‑market pricing.; High demand due to limited self‑storage supply (5.03 sq ft/capita in 3‑mile radius).; Strong population density (85,000+ in 3‑mile radius) and high percentage of renters.
