Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Chaffee St New Bedford, MA 02745
    Back to Search
    Property profile & analytics

    Chaffee St New Bedford, MA 02745

    View on Map
    • Land
    • 1.56 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Chaffee St

    Lot size
    1.56 lot acres
    Property type
    Land

    Description

    This exceptional 1.56-acre parcel presents a remarkable investment opportunity in New Bedford, Massachusetts. Located in the north end, this commercially and residentially zoned (RA/RB) property boasts high visibility and convenient access to major highways, situated just 1.3 miles from the Church Street MBTA Commuter Rail station. The versatile lot offers a multitude of development possibilities, including retail storefronts, apartment complexes, or even a bank. Given New Bedford's burgeoning offshore wind project and its projected economic growth, this land represents a strategic acquisition for investors seeking to capitalize on the city's revitalization. The seller is offering a $25,000 buyer credit at closing towards the cost of 21E. The property is located at 0 Chaffee St (SS), 0 Dutton St (SS), New Bedford, MA 02745, and buyers are responsible for conducting their own due diligence. This is a rare chance to secure a prime piece of real estate in a thriving Massachusetts city.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Bedford
    County
    Bristol
    State
    Massachusetts
    Longitude
    -70.9414
    Latitude
    41.6934

    Comparable in this City

    • Value Estimation
      $550,000
      3,399 SF

      366 Belair St

      BOARDING/ROOMING HOUSE • 3,399 SF
      366 Belair St, New Bedford, MA 02745-1604
      View Details
    • Value Estimation
      $760,000
      4,192 SF

      17 Ml Rd

      BOARDING/ROOMING HOUSE • 4,192 SF
      17 Ml Rd, New Bedford, MA 02745-2823
      View Details
    • Value Estimation by Request
      3,070 SF

      29 Tarkiln Hl Rd

      BOARDING/ROOMING HOUSE • 3,070 SF
      29 Tarkiln Hl Rd, New Bedford, MA 02745-6203
      View Details
    • Value Estimation by Request
      2,392 SF

      3628 Acushnet Ave

      BOARDING/ROOMING HOUSE • 2,392 SF
      3628 Acushnet Ave, New Bedford, MA 02745-4010
      View Details
    • Value Estimation by Request
      2,114 SF

      4077 Acushnet Ave

      BOARDING/ROOMING HOUSE • 2,114 SF
      4077 Acushnet Ave, New Bedford, MA 02745-4501
      View Details
    • Value Estimation by Request
      2.06 Acres

      321 Church St

      COMMERCIAL (GENERAL) • 2.06 Acres
      321 Church St, New Bedford, MA 02745
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,390 SF

      Turn-Key Three-Family Property

      Updated three-unit property with strong rental potential near MBTA.
      233 Belleville Rd, New Bedford, MA 02745
      View Details
    • $749,900

      Turn-Key Three-Family Property

      Updated three-unit property with strong rental potential near MBTA.
      233 Belleville Rd, New Bedford, MA 02745
      View Details
    • Contact for pricing

      Residential Income Property Near Park

      Two-unit residential property with income potential near South Coast Station.
      124 Princeton St, New Bedford, MA 02745
      View Details
    • $749,900
      3,390 SF

      Turn-Key Three-Family Property

      Updated three-unit property with strong rental potential near MBTA.
      233 Belleville Rd, New Bedford, MA 02745
      View Details
    • $949,900

      New Bedford Multi-Family Residence

      Multi-family residence with twelve bedrooms and five full bathrooms.
      104-106 Belleville Rd, New Bedford, MA 02745
      View Details
    • $599,000
      2,760 SF

      New Bedford Mixed-Use Two-Family

      Two-family property with MUB zoning, suitable for live-work.
      1930 Acushnet Ave, New Bedford, MA 02745
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,600 SF

      Retail Space with Drive-Thru

      Retail space suitable for QSR or convenience retail center.
      1230 Braley Rd, New Bedford, MA 02745
      View Details
    • Contact for pricing
      4,719 SF

      Versatile Office Space in New Bedford

      Adaptable office building with flexible layout and convenient location.
      1167-1177 Ashley Blvd, New Bedford, MA 02745
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space Near Train Station

      Highly visible retail space near Church St. Train Station.
      1014-1068 Kings Hwy, New Bedford, MA 02745
      View Details
    • Contact for pricing

      High-Traffic Commercial Plaza Available

      Thriving commercial plaza with excellent visibility and access.
      950 Kings Hwy, New Bedford, MA 02745
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Chaffee St
    New Bedford, MA 02745
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Chaffee St, New Bedford, MA, 02745
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!