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Property profile & analytics
OFF-MARKET
Estimated value
$4,090,000
Retail space
23 Popes Is 31 New Bedford, MA 02740-7257
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US38-1223605
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1955
Construction
STEEL FRAME
Total area
23,253 SF
Lot
1.98 ac (86,253 SF)
Zoning code
IA
APN
NEWB M:0060 L:0020
UPID
US38-1223605
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
by Request
CAP Approach
CAP
$4.84M
Comparable Approach
Comparable
$3.85M
Blend (final)
Blend
$4.09M
Owner & transaction history
Cooke Island Realty LLC · 7 yrs held
Cooke Island Realty LLC
since 2018
5 recorded transactions
Zoning & alternative use
IA · New Bedford, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this zone is to promote Industrial A uses.
Zone name
Industrial A
General category
INDUSTRIAL
Zone area
433.23 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$3.8M
+8.2%
Apartment house (5+ units)
$3.7M
+7.1%
Neighborhood: shopping center
$3.6M
+2.2%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,240,000
6.5%
$4,840,000
7%
$4,490,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,475,000
Current use
AUTO REPAIR, GARAGE
$3,760,000
Change: +8% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,725,000
Change: +7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,550,000
Change: +2% · Conversion: Moderate
RESTAURANT
$3,540,000
Change: +2% · Conversion: Easy
WAREHOUSE, STORAGE
$3,075,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$3,050,000
Change: -12% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,020,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$4.09M
Range $3.68M – $4.50M · ±10%
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
$176 / 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
$79,141
Tax year 2024
Assessed value
$3,170,700
Assessed 2024
Previous assessed
$3,170,700
+0.0% YoY
Effective rate
2.50%
On assessed value
Assessed land
$1,892,800
Assessed improvement
$1,277,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1955
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
3
Total area
23,253 SF
Lot
1.98 ac (86,253 SF)
Zoning code
IA
APN
NEWB M:0060 L:0020
UPID
US38-1223605
Jurisdiction
NEW BEDFORD
Zoning & alternative use
IA · New Bedford, MAZoning 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
Zoning description
The intent of this zone is to promote Industrial A uses.
Zone name
Industrial A
General category
INDUSTRIAL
Zone area
433.23 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.6M
RESTAURANT
Est. value
$3.5M
WAREHOUSE, STORAGE
Est. value
$3.1M
OFFICE BUILDING
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$3.0M
RETAIL STORES Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
WAREHOUSE, STORAGE
OFFICE BUILDING
COMMERCIAL (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
1955
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
3
Lot
1.98 ac
Current owner
From public records · entity-resolved
Cooke Island Realty LLC
Entity
Mailing address
50 FT ST, FAIRHAVEN, MA 02719-2866
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 26, 2018
$1,950,000
Cooke Island Realty LLC
Popes Island Realty Assoc
Quit Claim Deed
$25,000,000 · Farm Credit Svcs
Nov 3, 2008
$1
Neri Realty Co LLC
Vero Beach T
Grant Deed
—
Jul 19, 2000
$900,000
Popes Island Rlty LLC
Chandler,rober E
Grant Deed
$900,000 · Zenon Grzybowski
Dec 29, 1988
$907,000
Neri RT
Neri RT
Grant Deed
related
—
Sep 7, 1988
$315,000
Popes Island Hrbr
Longo,edward E
Grant Deed
—
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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