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Property profile & analytics
OFF-MARKET
Estimated value
$1,975,000
Retail space
38 Bethel St, New Bedford, MA 02740-6280
Entity Owned
2-yr Hold
Free & Clear
Property ID
US38-0251416
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1880
Construction
FRAME
Total area
11,362 SF
Lot
0.16 ac (6,861 SF)
Zoning code
IA
APN
NEWB M:0053 L:0103
UPID
US38-0251416
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
Current use
Occupant on record · Public records
-
mediumstudio Marketing & Advertising Advertising Agency
-
New Bedford Fishing Heritage Center Charitable Organization Social Service Agency
-
Tyson Moultrie for Mayor of New Bedford, Massachusetts Advocacy Group Volunteer Organization
-
Scott Botelho, Home and Key Real Estate Real Estate Agency
-
JLC Construction General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.98M
CAP Approach
CAP
$2.37M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.98M
Owner & transaction history
Franklin Hospitality Corp · 2 yrs held
Franklin Hospitality Corp
since 2024
Last sale
$2.0M
7 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
+8.2%
Apartment house (5+ units)
$1.8M
+7.1%
Neighborhood: shopping center
$1.7M
+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
$1,975,000
ML approach
$1,975,000
CAP Approach
CAP Return
Estimation
6%
$2,560,000
6.5%
$2,365,000
7%
$2,195,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,700,000
Current use
AUTO REPAIR, GARAGE
$1,840,000
Change: +8% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,820,000
Change: +7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,735,000
Change: +2% · Conversion: Moderate
RESTAURANT
$1,730,000
Change: +2% · Conversion: Easy
WAREHOUSE, STORAGE
$1,505,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$1,490,000
Change: -12% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,475,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$1.98M
Range $1.78M – $2.17M · ±10% · vs last sale $1.98M (Jan 30 2024)
Last sale anchor
$1.98M
Jan 30 2024
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
$174 / 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
$22,531
Tax year 2024
Assessed value
$902,700
Assessed 2024
Previous assessed
$902,700
+0.0% YoY
Effective rate
2.50%
On assessed value
Assessed land
$223,800
Assessed improvement
$678,900
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
1880
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
4
Total area
11,362 SF
Lot
0.16 ac (6,861 SF)
Zoning code
IA
APN
NEWB M:0053 L:0103
UPID
US38-0251416
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
RETAIL STORES Current
Est. value
$1.7M
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
WAREHOUSE, STORAGE
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.5M
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
1880
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
4
Lot
0.16 ac
Current owner
From public records · entity-resolved
Franklin Hospitality Corp
Entity
Free & Clear · 2 yrs held
Mailing address
38 BETHEL ST, NEW BEDFORD, MA 02740-6280
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 30, 2024
$1,975,000
Franklin Hospitality Corp
New Bedford INC
Quit Claim Arm's Length For Ne States
—
Dec 23, 2020
—
Tob Nb LLC
—
Deed
related
$400,000 · Webster Bank
Nov 20, 2020
—
New Bedford INC
—
Deed
related
$2,976,000 · Baycoast Bank
Aug 28, 2020
$1,300,000
New Bedford INC
Bethel Street LLC
Quit Claim Deed
—
Nov 5, 2010
$830,000
Bethel Street LLC
Klaren,thornton P JR
Grant Deed
—
Dec 10, 1996
—
North Water Street RT
—
Deed Of Trust
related
$99,000 · Slades Ferry Trust Co
Jan 24, 1992
—
Thornton P Klaren JR.
—
Deed Of Trust
related
$176,000 · Shawmut Bank Southeast Ma
Dec 5, 1988
—
Thornton P Klaren JR
—
Deed Of Trust
related
$55,435 · Shawmut Bk Of Se Ma
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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