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Property profile & analytics
OFF-MARKET
Estimated value
$2,630,000
Manufacturing properties
57 Hassey St New Bedford, MA 02740-7277
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US38-1808084
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1988
Construction
STEEL FRAME
Total area
26,200 SF
Lot
1.54 ac (67,222 SF)
Zoning code
IB
APN
NEWB M:0037 L:0328
UPID
US38-1808084
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
-
Marder Seafood Take-out & Catering Fish Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.63M
Owner & transaction history
Mar-vin Realty Corp-n B · 2 yrs held
Mar-vin Realty Corp-n B
since 2024
3 recorded transactions
Zoning & alternative use
IB · New Bedford, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this zone is to promote Industrial B uses.
Zone name
Industrial B
General category
INDUSTRIAL
Zone area
1,545.11 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$4.2M
+42.6%
Apartment house (5+ units)
$4.2M
+41.2%
Neighborhood: shopping center
$4.0M
+34.7%
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
INDUSTRIAL (GENERAL)
$2,970,000
Current use
AUTO REPAIR, GARAGE
$4,240,000
Change: +43% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$4,195,000
Change: +41% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,000,000
Change: +35% · Conversion: Difficult
RESTAURANT
$3,990,000
Change: +34% · Conversion: Difficult
RETAIL STORES
$3,920,000
Change: +32% · Conversion: Moderate
WAREHOUSE, STORAGE
$3,465,000
Change: +17% · Conversion: Easy
OFFICE BUILDING
$3,435,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$2.63M
Range $2.37M – $2.89M · ±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
$100 / 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
$61,172
Tax year 2024
Assessed value
$2,450,800
Assessed 2024
Previous assessed
$2,450,800
+0.0% YoY
Effective rate
2.50%
On assessed value
Assessed land
$1,202,400
Assessed improvement
$1,248,400
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1988
Construction
STEEL FRAME
Heating
SPACE
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
26,200 SF
Lot
1.54 ac (67,222 SF)
Zoning code
IB
APN
NEWB M:0037 L:0328
UPID
US38-1808084
Jurisdiction
NEW BEDFORD
Zoning & alternative use
IB · New Bedford, MAZoning IB · permitted uses
IB · 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 B uses.
Zone name
Industrial B
General category
INDUSTRIAL
Zone area
1,545.11 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.0M
RESTAURANT
Est. value
$4.0M
RETAIL STORES
Est. value
$3.9M
WAREHOUSE, STORAGE
Est. value
$3.5M
OFFICE BUILDING
Est. value
$3.4M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
RETAIL STORES
WAREHOUSE, STORAGE
OFFICE BUILDING
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
1988
Construction
STEEL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
1.54 ac
Current owner
From public records · entity-resolved
Mar-vin Realty Corp-n B
Entity
Mailing address
28 UN ST, NEW BEDFORD, MA 02740-7255
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2024
—
Mar-vin Realty Corp-n B
—
Deed
related
$1,000,000 · Berkshire Bank
Apr 26, 2018
—
Mar Vin Realty Corp
—
Deed
related
$15,971,000 · Berkshire Bank
—
—
Mar Vin Rlty Corp
—
Deed Of Trust
related
$900,000 · Rockland Tr
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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