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Property profile & analytics
OFF-MARKET
Estimated value
$1,195,000
Warehouses
1228 Shawmut Ave, New Bedford, MA 02746-1356
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US38-1613883
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1989
Construction
STEEL FRAME
Total area
11,250 SF
Lot
2.41 ac (105,001 SF)
Zoning code
IA
APN
NEWB M:0123 L:0018
UPID
US38-1613883
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.23M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.60M
Blend (final)
Blend
$1.20M
Owner & transaction history
El Harvey&sons INC · 4 yrs held
El Harvey&sons INC
since 2022
Last sale
$790,000
4 recorded transactions
Zoning & alternative use
IA · New Bedford, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.8M
+22.3%
Apartment house (5+ units)
$1.8M
+21.0%
Neighborhood: shopping center
$1.7M
+15.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs New Bedford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Bedford submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,235,000
ML approach
$1,225,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,490,000
Current use
AUTO REPAIR, GARAGE
$1,820,000
Change: +22% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,800,000
Change: +21% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,720,000
Change: +15% · Conversion: Moderate
RESTAURANT
$1,715,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$1,700,000
Change: +14% · Conversion: Moderate
OFFICE BUILDING
$1,475,000
Change: -1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,275,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$1.20M
Range $1.08M – $1.31M · ±10% · vs last sale $790k (Feb 16 2022)
Last sale anchor
$790k
Feb 16 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$106 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$18,425
Tax year 2024
Assessed value
$738,200
Assessed 2024
Previous assessed
$738,200
+0.0% YoY
Effective rate
2.50%
On assessed value
Assessed land
$358,900
Assessed improvement
$379,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1989
Construction
STEEL FRAME
Heating
SPACE
Buildings
1
Stories
1
Units
1
Bathrooms
3
Total area
11,250 SF
Lot
2.41 ac (105,001 SF)
Zoning code
IA
APN
NEWB M:0123 L:0018
UPID
US38-1613883
Jurisdiction
NEW BEDFORD
Zoning & alternative use
IA · New Bedford, MA
Zoning IA · permitted uses
IA · New Bedford, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Bedford. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
RESTAURANT
Est. value
$1.7M
RETAIL STORES
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
RETAIL STORES
OFFICE BUILDING
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Buildings
1
Units
1
Bathrooms
3
Lot
2.41 ac
Current owner
From public records · entity-resolved
El Harvey&sons INC
Entity
Mailing address
3 WATERWAY SQ PL, THE WOODLANDS, TX 77380-3487
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 16, 2022
$790,000
El Harvey&sons INC
Shawmut Associates LLC
Quit Claim Arm's Length For Ne States
—
Jun 19, 2017
—
Shawmut Associates LLC
—
Deed
related
$6,618,237 · Webster Bank
Apr 13, 2001
$410,000
Shawmut Assoc LLC
Arjay Nat Corp
Grant Deed
—
Apr 13, 2001
—
Shawmut Assoc LLC
—
Deed Of Trust
related
$352,000 · Sovereign Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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