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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1024 Main St Fall River, MA 02724-2820

    • Retail space
    • 6,344 SF
    • 0.58 lot acres
    OFF-MARKET
    Value Estimations
    $540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1392924
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Rite Aid Pharmacy / Pharmacy
    • Rite Aid / Greeting Card Shop / Drug Store
    • Western Union / Money Transfer Service
    • Amazon Locker - Mailin / Mailing Service / E-Commerce Service
    • Luisa Edwards / Pharmacy

    Property Details for 1024 Main St

    Year built
    1980
    Construction
    STEEL FRAME
    Lot size
    0.58 lot acres
    Property size
    6,344 SF
    Zone code
    B-L
    Property type
    Retail space
    APN
    FALL M:0G-11 B:0000 L:0013
    APU
    FALLM0G11B0000L0013

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $685,000
      Market price range: $454k - $1.14M
      AI Estimate
      $617,000
      Market price range: $273k - $891k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $675,000
      Current use
      WAREHOUSE, STORAGE
      $840,000
      Change: +24% Conversion: Difficult
      RESTAURANT
      $835,000
      Change: +24% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $720,000
      Change: +7% Conversion: Difficult
      OFFICE BUILDING
      $625,000
      Change: -8% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fall River
    County
    Bristol
    State
    Massachusetts
    Longitude
    -71.1652
    Latitude
    41.6906
    CBSA code
    39300
    CBSA name
    PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $15,973
    $157,600
    $509,600
    $667,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,904 SF

      1731 Bay St

      RETAIL STORES (PERSONAL SERVICES) • 1,904 SF
      1731 Bay St, Fall River, MA 02724
      View Details
    • Value Estimation
      $700,000
      12,834 SF

      1745 Main St

      RETAIL STORES (PERSONAL SERVICES) • 12,834 SF
      1745 Main St, Fall River, MA 02724
      View Details
    • Value Estimation by Request
      3,527 SF

      927 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,527 SF
      927 Main St, Fall River, MA 02724-2923
      View Details
    • Value Estimation by Request
      2,074 SF

      1001 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,074 SF
      1001 Main St, Fall River, MA 02724-2819
      View Details
    • Value Estimation by Request
      682 SF

      2046 Main St

      RETAIL STORES (PERSONAL SERVICES) • 682 SF
      2046 Main St, Fall River, MA 02724-2163
      View Details
    • Value Estimation by Request
      7,090 SF

      1826 Main St

      RETAIL STORES (PERSONAL SERVICES) • 7,090 SF
      1826 Main St, Fall River, MA 02724-2138
      View Details

    Similar Nearby for Sale

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      Turn-Key Retail Building For Sale

      Move-in ready retail building with high-traffic location in Fall River.
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      Fall River Retail Investment Opportunity

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    • $1,625,000

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      Well-maintained mixed-use property with apartments and storefronts in Fall River.
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      Broadway Car Wash For Sale

      Operating car wash with redevelopment potential in growing area.
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      Established Restaurant and Bar For Sale

      Well-established restaurant and bar with full liquor license for sale.
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    Similar Nearby for Lease

    • $1,200 /Mo

      High-Visibility Retail Space Available

      Ground-level retail space on a busy corner with high traffic.
      233 East Main St, Fall River, MA 02724
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    • $1,800 /Mo
      1,200 SF

      Fall River Retail Space Available

      Retail space for rent in Fall River, Massachusetts.
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      View Details
    • Contact for pricing
      2,109 SF

      Fall River Retail Space Available

      Retail space for lease in Fall River's retail corridor.
      310-340 Rhode Island Ave, Fall River, MA 02724
      View Details
    • $4,000 /Mo
      5,001 SF

      Fall River Commercial Leasing Opportunity

      Versatile commercial space ideal for various business uses.
      593 Montaup St, Fall River, MA 02724
      View Details
    • Contact for pricing
      45,000 SF

      Fall River Mill Space Available

      Manufacturing/warehouse spaces available in Fall River mill.
      113 Griffin St, Fall River, MA 02724
      View Details
    • $14 SF/Yr

      Tuscan Building Office Space

      Affordable office space with reception area and break room.
      145 Globe St, Fall River, MA 02724
      View Details
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    1024 Main St
    Fall River, MA 02724-2820
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    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
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