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

    23 Rodney French Blvd New Bedford, MA 02744-2601

    • Retail space
    • 4,256 SF
    • 0.22 lot acres
    OFF-MARKET
    Last Sale
    Dec 20, 2022
    $450,000
    Value Estimations
    $540,000
    Show details
    Cap Rate Potential
    8.2%
    Retail space
    Location Intelligence
    Property ID
    US38-1000556
    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

    • Ro-Art Liquor Inc / (Bike/Boat/Book/etc) Store / Wine and Liquor Store

    Property Details for 23 Rodney French Blvd

    Year built
    1913
    Construction
    FRAME
    Lot size
    0.22 lot acres
    Property size
    4,256 SF
    Zone code
    MUB
    Property type
    Retail space
    APN
    NEWB M:0020 L:0313
    APU
    NEWBM0020L0313

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $705,000
      ML approach
      $570,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $539,000
      Market price range: $281k - $981k
      AI Estimate
      $532,000
      Market price range: $309k - $867k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $645,000
      Current use
      AUTO REPAIR, GARAGE
      $690,000
      Change: +7% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $650,000
      Change: +1% Conversion: Moderate
      WAREHOUSE, STORAGE
      $565,000
      Change: -12% Conversion: Difficult
      OFFICE BUILDING
      $560,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    New Bedford
    County
    Bristol
    State
    Massachusetts
    Longitude
    -70.9196
    Latitude
    41.6154
    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
    $10,643
    $128,900
    $297,500
    $426,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $520,000
      4,403 SF

      315 Rivet St

      RETAIL STORES (PERSONAL SERVICES) • 4,403 SF
      315 Rivet St, New Bedford, MA 02744-1033
      View Details
    • Value Estimation by Request
      4,473 SF

      36 County St

      RETAIL STORES (PERSONAL SERVICES) • 4,473 SF
      36 County St, New Bedford, MA 02744-1102
      View Details
    • Value Estimation by Request
      1,815 SF

      155 County St

      RETAIL STORES (PERSONAL SERVICES) • 1,815 SF
      155 County St, New Bedford, MA 02744
      View Details
    • Value Estimation by Request
      1,164 SF

      122 County St

      RETAIL STORES (PERSONAL SERVICES) • 1,164 SF
      122 County St, New Bedford, MA 02744-1828
      View Details
    • Value Estimation
      $675,000
      7,600 SF

      1275 Cv Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,600 SF
      1275 Cv Rd, New Bedford, MA 02744-1040
      View Details
    • Value Estimation by Request
      2,600 SF

      29 Division St

      RETAIL STORES (PERSONAL SERVICES) • 2,600 SF
      29 Division St, New Bedford, MA 02744-1713
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Clothing Boutique Contents For Sale

      Clothing and gift shop contents for sale, fixtures included.
      0000 For Sale, New Bedford, MA 02744
      View Details
    • $1,150,000

      Renovated Mixed-Use Property Available

      Mixed-use property with studios and commercial spaces, all renovated.
      120 County St, New Bedford, MA 02744
      View Details
    • $849,000

      Mixed-Use Building in Downtown

      Five-unit mixed-use building with residential and commercial spaces.
      110-114 County St, New Bedford, MA 02744
      View Details
    • $119,900

      New Bedford Vacant City Lot

      Vacant lot in prime mixed-use zone, potential parking or development.
      22 Mosher St, New Bedford, MA 02744
      View Details
    • $398,000

      Commercial Spot in New Bedford

      4,906 sq ft commercial space ideal for auto shops.
      31 Scott St, New Bedford, MA 02744
      View Details
    • $475,000

      Rare Multifamily Investment Opportunity

      Three-unit property near the Cove with value-add potential.
      9 Abbott St, New Bedford, MA 02744
      View Details

    Similar Nearby for Lease

    • $1,400 /Mo
      800 SF

      Retail/Office Space on Acushnet Avenue

      Move-in ready retail or office space on high-traffic street.
      1549-1551 Acushnet Ave, New Bedford, MA 02744
      View Details
    • $20 SF/Yr

      Restaurant Space in New Bedford

      Second-generation restaurant space in a high-traffic location.
      160 Rodney French Blvd, New Bedford, MA 02744
      View Details
    • Contact for pricing
      3,145 SF

      Turnkey Restaurant Space in New Bedford

      Ready-to-go restaurant space in high-traffic New Bedford location.
      150-160 Rodney French Blvd, New Bedford, MA 02744
      View Details
    • $8 SF/Yr

      Turnkey Industrial Space in New Bedford

      20,000 sq. ft. industrial space for lease near ocean.
      11R David St, New Bedford, MA 02744
      View Details
    • $450 /Mo
      144 SF

      Downtown New Bedford Office Space

      Private office space in historic building with included utilities.
      412 County St, New Bedford, MA 02744
      View Details
    • $1,500 /Mo

      Spacious Second Floor Open Space

      Large open space with hardwood floors and waterview.
      701 Orchard St, New Bedford, MA 02744
      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.
    23 Rodney French Blvd
    New Bedford, MA 02744-2601
    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.