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

    273-275 Rivet St New Bedford, MA 02744

    • Investment properties
    • 6,014 SF
    • 0.08 lot acres
    OFF-MARKET
    Last Sale
    May 03, 2023
    $511,133
    Value Estimations
    $595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1468451
    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

    • Investment properties

    Property Details for 273-275 Rivet St

    Year built
    1913
    Construction
    FRAME
    Lot size
    0.08 lot acres
    Property size
    6,014 SF
    Zone code
    MUB
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    NEWB M:0030 L:0294
    APU
    NEWBM0030L0294

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $595,000
      ML approach
      $560,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $593,000
      Market price range: $402k - $979k
      AI Estimate
      $379,000
      Market price range: $316k - $605k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $690,000
      Current use
      AUTO REPAIR, GARAGE
      $975,000
      Change: +41% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $965,000
      Change: +39% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $920,000
      Change: +33% Conversion: Difficult
      RESTAURANT
      $915,000
      Change: +32% Conversion: Difficult
      RETAIL STORES
      $910,000
      Change: +31% Conversion: Easy
      WAREHOUSE, STORAGE
      $795,000
      Change: +15% Conversion: Difficult
      OFFICE BUILDING
      $790,000
      Change: +14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    New Bedford
    County
    Bristol
    State
    Massachusetts
    Longitude
    -70.9274
    Latitude
    41.6203
    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
    $0.00
    $87,400
    $323,700
    $411,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $275,000
      5,460 SF

      128 County St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,460 SF
      128 County St, New Bedford, MA 02744-1828
      View Details
    • Value Estimation
      $395,000
      4,298 SF

      68 Cv St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,298 SF
      68 Cv St, New Bedford, MA 02744-2427
      View Details
    • Value Estimation
      $390,000
      3,290 SF

      200-202 Rivet St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,290 SF
      200-202 Rivet St, New Bedford, MA 02744
      View Details
    • Value Estimation
      $545,000
      3,416 SF

      337-339 Rivet St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,416 SF
      337-339 Rivet St, New Bedford, MA 02744
      View Details
    • Value Estimation
      $345,000
      0.15 Acres

      103-107 Rivet St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.15 Acres
      103-107 Rivet St, New Bedford, MA 02744
      View Details
    • Value Estimation
      $445,000
      4,094 SF

      332-334 Brock Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,094 SF
      332-334 Brock Ave, New Bedford, MA 02744
      View Details

    Similar Nearby for Sale

    • $1,150,000

      Renovated Mixed-Use Property Available

      Mixed-use property with studios and commercial spaces, all renovated.
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      Five-unit mixed-use building with residential and commercial spaces.
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    • $799,999

      New Bedford Commercial Property Available

      Commercial property for sale in New Bedford, Massachusetts.
      273-275 Rivet St, New Bedford, MA 02744
      View Details
    • $667,500
      0.06 Acres

      New Bedford Multifamily Investment

      Prime Location, High Rental Potential
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      View Details
    • $499,900

      Renovated Three-Family with Parking

      Three-family property featuring renovated units and off-street parking.
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      View Details

    Similar Nearby for Lease

    • $20 SF/Yr

      Restaurant Space in New Bedford

      Second-generation restaurant space in a high-traffic location.
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      View Details
    • $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
    • 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
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    New Bedford, MA 02744
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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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