Mixed-Use Property with Auto
For Sale
Contact for pricing
Pending
98 Middle St, Fairhaven, MA 02719
The assemblage combines an established auto repair facility, standalone warehouse, and extensive paved parking.
Property Size5,036 SF
Days on Market271
Property Features for 98 Middle St
General Information
Standard status
Pending
Size
5,036 SF
Property subtype
Industrial, Mixed Use
Zoning
MU
Additional Details
Highway Access
Yes
Building Details
Buildings
2
Stories
1
Units
2
Listing Agency:
Coastal Realty
(508) 990-4280
Listed By:
Lori Nery · License #MA
Source:
Crexi
Added: Dec 3, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:50PM
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 Realty
Investment Insights
Based on property information with market context.
This mixed-use assemblage spans two corner parcels totaling 5,036 square feet and includes an established auto repair facility, a separate commercial warehouse, and a large paved lot with capacity for 100+ vehicles. The existing improvements provide a combination of automotive, warehouse, and parking components within one offering.
The property is positioned along Fairhaven’s waterfront, near marinas and renewed waterfront amenities. It falls within the 40R Smart Growth Overlay and carries MU zoning, with the overlay providing streamlined permitting incentives for potential mixed-use, multifamily, and commercial projects. Both parcels have a clean 21E designation. Access to Rte. 195, New Bedford’s port, commuter routes, and the marine and offshore wind sectors further connects the site to regional transportation and employment centers.
The property is positioned along Fairhaven’s waterfront, near marinas and renewed waterfront amenities. It falls within the 40R Smart Growth Overlay and carries MU zoning, with the overlay providing streamlined permitting incentives for potential mixed-use, multifamily, and commercial projects. Both parcels have a clean 21E designation. Access to Rte. 195, New Bedford’s port, commuter routes, and the marine and offshore wind sectors further connects the site to regional transportation and employment centers.
Key Highlights
- Two corner parcels totaling 5,036 square feet
- Established auto repair facility included
- Standalone commercial warehouse on site
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
$103,429
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
6.48%
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%
$2,068,580
$2.1M
Cap Rate 7%
$1,477,557
$1.5M
Cap Rate 9%
$1,149,211
$1.1M
Market Conditions
NOI Build-Up for 5,036 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
$151.1K $30.00/SF
− Vacancy
−$3.3K −$0.66/SF
EGI
$147.8K $29.34/SF
− OpEx
−$44.3K −$8.80/SF
NOI
$103.4K $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%
$2,068,580
Cap Rate 7%
$1,477,557
Cap Rate 9%
$1,149,211
Alternative Uses
Best Use
Flex RnD
$2.26M
$1.98M – $2.64M
NOI $158,361 @ 7.0% cap · market cap 9.93%
Second Best
Retail
$1.48M
$1.29M – $1.72M
NOI $103,429 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$3.07M
$2.68M – $3.58M
NOI $214,679 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
Explore this area
Business Placement
Demographics for 02719, MA
15,924
Population
7,777
Households
2
Avg Household Size
49
Median Age
30%
College-Educated
92%
High-School Grad
12.4 sq mi
ZIP Area
1,284
Density / Sq Mi
$92,500
Median Household Income
$57,781
Median Earnings
$1,071
Median Rent
$407,300
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?
Mixed-use property - The assemblage combines an established auto repair facility, standalone warehouse, and extensive paved parking.
Where is this mixed-use property located?
The property is located at 98 Middle St Fairhaven, MA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Two corner parcels totaling 5,036 square feet; Established auto repair facility included; Standalone commercial warehouse on site
