Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    162-164 Hemlock St New Bedford, MA 02740

    • Office buildings
    • 1,956 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Mar 12, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1493864
    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

    • Office buildings

    Property Details for 162-164 Hemlock St

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.10 lot acres
    Property size
    1,956 SF
    Zone code
    RC
    Property type
    Office buildings
    APN
    NEWB M:0023 L:0067
    APU
    NEWBM0023L0067

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New Bedford
    County
    Bristol
    State
    Massachusetts
    Longitude
    -70.9332
    Latitude
    41.6178
    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
    $5,883
    $71,700
    $164,000
    $235,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3,917 SF

      460 County St

      OFFICE BUILDING • 3,917 SF
      460 County St, New Bedford, MA 02740-5107
      View Details
    • Value Estimation by Request
      3,996 SF

      32nd Hillman St

      OFFICE BUILDING • 3,996 SF
      32nd Hillman St, New Bedford, MA 02740-6613
      View Details
    • Value Estimation by Request
      1,175 SF

      254 Rockdale Ave

      OFFICE BUILDING • 1,175 SF
      254 Rockdale Ave, New Bedford, MA 02740-1341
      View Details
    • Value Estimation
      $610,000
      4,082 SF

      355 Un St

      OFFICE BUILDING • 4,082 SF
      355 Un St, New Bedford, MA 02740-3691
      View Details
    • Value Estimation
      $1,005,000
      15,840 SF

      Water St

      OFFICE BUILDING • 15,840 SF
      Water St, New Bedford, MA 02740
      View Details
    • Value Estimation
      $1,545,000
      24,960 SF

      105 William St

      OFFICE BUILDING • 24,960 SF
      105 William St, New Bedford, MA 02740-6257
      View Details

    Similar Nearby for Sale

    • $4,500,000
      5,288 SF

      Iconic Historic Office Building For Sale

      Historic office building in New Bedford's Historic District.
      56-62 N Water St, New Bedford, MA 02740
      View Details
    • $1,450,000

      Historic Office Building For Sale

      Historic New Bedford office building, meticulously maintained, many possibilities.
      32 William St, New Bedford, MA 02740
      View Details
    • $725,000

      Professional Office Near St. Lukes

      Professional office units near St. Lukes Hospital, New Bedford.
      92 Grape St 1-3, New Bedford, MA 02740
      View Details
    • $575,000
      3,273 SF

      Mixed-Use Property in Revitalizing Downtown

      Historic property with flexible live/work potential in prime location.
      333 Union St, New Bedford, MA 02740
      View Details
    • $700,000
      5,590 SF

      New Bedford Industrial Property

      5,590 SF Flex Space, High Traffic Area
      347 Dartmouth St, New Bedford, MA 02740
      View Details
    • $520,000

      Downtown Mixed-Use Opportunity

      Mixed-use property with office suites and residential units in downtown.
      13 S 6Th St, New Bedford, MA 02740
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      1,300 SF

      Historic Building in Downtown

      Reconstructed historic building with modern amenities in downtown New Bedford.
      895-899 Pleasant St, New Bedford, MA 02740
      View Details
    • $650 /Mo
      400 SF

      Downtown Office Space Available

      Renovated office space for lease in iconic downtown building.
      555 Pleasant St, New Bedford, MA 02740
      View Details
    • $3,000 /Mo
      2,432 SF

      Downtown Office Suite For Lease

      Modern, renovated office suite in downtown New Bedford.
      555 Pleasant St Unit, New Bedford, MA 02740
      View Details
    • $800 /Mo
      600 SF

      Renovated Office in Standard Times Building

      Modern office space for lease in downtown New Bedford.
      555 Pleasant St, New Bedford, MA 02740
      View Details
    • $20 SF/Yr
      2,500 SF

      Class A Medical/Professional Space

      Exceptional facility designed for healthcare or general professional users.
      1155 Purchase St, New Bedford, MA 02740
      View Details
    • $600 /Mo
      11,580 SF

      Downtown New Bedford Office Space

      Affordable downtown office space with utilities included and parking.
      9 S 6Th St, New Bedford, MA 02740
      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.
    162-164 Hemlock St
    New Bedford, MA 02740
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.