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Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Office Spaces
388 County St 5, New Bedford, MA 02740-4992
Entity Owned
Free & Clear
Property ID
US38-0501849
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1833
Construction
FRAME
Total area
4,431 SF
Zoning code
RA
APN
NEWB M:0041 L:0070-E
UPID
US38-0501849
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
-
Paul & Dixon Insurance Insurance Agency
-
New Bedford Preservation Society Association / Organization Tourist Attraction
-
Moniz & Latimer Constables Law Firm
-
Daniel Perry Law Firm
-
Margaret Heffernan Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$659k
Blend (final)
Blend
$660k
Owner & transaction history
WILLIAM RODMAN ASSOC LLP
WILLIAM RODMAN ASSOC LLP
Zoning & alternative use
RA · New Bedford, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$715,000
+23.3%
Neighborhood: shopping center
$675,000
+16.4%
Retail stores
$665,000
+14.0%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$580,000
Current use
AUTO REPAIR, GARAGE
$715,000
Change: +23% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$675,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$665,000
Change: +14% · Conversion: Moderate
WAREHOUSE, STORAGE
$585,000
Change: +1% · Conversion: Difficult
COMMERCIAL (GENERAL)
$575,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$660k
Range $594k – $726k · ±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
$149 / 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
$13,236
Tax year 2024
Assessed value
$530,300
Assessed 2024
Previous assessed
$530,300
+0.0% YoY
Effective rate
2.50%
On assessed value
Assessed improvement
$530,300
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1833
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Bathrooms
5
Total area
4,431 SF
Zoning code
RA
APN
NEWB M:0041 L:0070-E
UPID
US38-0501849
Jurisdiction
NEW BEDFORD
Zoning & alternative use
RA · New Bedford, MA
Zoning RA · permitted uses
RA · 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
OFFICE BUILDING Current
Est. value
$580,000
AUTO REPAIR, GARAGE
Est. value
$715,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$675,000
RETAIL STORES
Est. value
$665,000
WAREHOUSE, STORAGE
Est. value
$585,000
COMMERCIAL (GENERAL)
Est. value
$575,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
WAREHOUSE, STORAGE
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
1833
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Bathrooms
5
Current owner
From public records · entity-resolved
WILLIAM RODMAN ASSOC LLP
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 6727, NEW BEDFORD, MA 02742-6727
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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