Restaurant, Bakery, and Apartment
For Sale
$1,275,000
Pending
98 County St., New Bedford, MA 02744
Updated exterior with restaurant and commercial bakery plus eight remodeled two-bedroom apartments above.
Property Size11,563 SF
Days on Market101
Property Features for 98 County St.
General Information
Standard status
Pending
Size
11,563 SF
Property subtype
Investment
Additional Details
Multifamily Units
8
Building Details
Building Size
11,563 SF
Year Built
1914
Stories
3
Units
10
Listed By:
Darren Costa
(508) 989-2073
Source:
Elliman
Added: Jul 16
Changed: Oct 12
Last Checked: Oct 23 at 10:04AM
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 Darren Costa
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Investment Insights
Based on property information with market context.
This for-sale mixed-use income property includes a well-established restaurant, a very large commercial bakery, and eight rehab apartments above. The exterior has been updated with maintenance-free PVC siding, along with new windows and new doors. The eight two-bedroom apartments are described as totally remodeled, with new windows, new floors, new kitchen cabinets, and new bathrooms. The property also notes that all locks and keys have been replaced and that all heating systems are in working condition.
Located at 98 County St. in New Bedford, MA 02744, the area is described as very walkable (walkScore 84) and bikeable (bikeScore 66), with some transit (transitScore 33).
Located at 98 County St. in New Bedford, MA 02744, the area is described as very walkable (walkScore 84) and bikeable (bikeScore 66), with some transit (transitScore 33).
Key Highlights
- 1914‑built mixed‑use income property with restaurant, large commercial bakery, and 8 rehab apartments above
- Exterior updates include maintenance‑free PVC siding, new windows, and new doors
- 8 apartments are fully rehabbed 2‑bedroom units with new windows, floors, kitchen cabinets, and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$113,816
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,276,320
$2.3M
Cap Rate 7%
$1,625,943
$1.6M
Cap Rate 9%
$1,264,622
$1.3M
Market Conditions
NOI Build-Up for 11,563 SF
Gross rent
$172.1K $14.88/SF
− Vacancy
−$9.5K −$0.82/SF
EGI
$162.6K $14.06/SF
− OpEx
−$48.8K −$4.22/SF
NOI
$113.8K $9.84/SF
Area
New Bedford, MA
Vacancy
5.50%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,276,320
Cap Rate 7%
$1,625,943
Cap Rate 9%
$1,264,622
Alternative Uses
Best Use
Specialty Retail
$2.48M
$2.17M – $2.89M
NOI $173,272 @ 7.0% cap · market cap 13.59%
Second Best
Apartment 5plus
$2.18M
$1.91M – $2.54M
NOI $152,593 @ 7.0% cap · market cap 11.97%
Theoretical Best
Office A
$3.41M
$2.98M – $3.98M
NOI $238,660 @ 7.0% cap · market cap 18.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Under-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Updated exterior with restaurant and commercial bakery plus eight remodeled two-bedroom apartments above.
Where is this conventional restaurant located?
The property is located at 98 County St. New Bedford, MA.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: 1914‑built mixed‑use income property with restaurant, large commercial bakery, and 8 rehab apartments above; Exterior updates include maintenance‑free PVC siding, new windows, and new doors; 8 apartments are fully rehabbed 2‑bedroom units with new windows, floors, kitchen cabinets, and bathrooms
