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

    591 Summer St New Bedford, MA 02746-1441

    • Investment properties
    • 5,261 SF
    • 0.36 lot acres
    OFF-MARKET
    Value Estimations
    $380,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1277362
    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

    • Positive Action Daycare Center / Day Care Center / Preschool

    Property Details for 591 Summer St

    Year built
    1940
    Construction
    FRAME
    Lot size
    0.36 lot acres
    Property size
    5,261 SF
    Zone code
    MUB
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    NEWB M:0090 L:0184
    APU
    NEWBM0090L0184

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $448,000
      Market price range: $213k - $506k
      AI Estimate
      $383,000
      Market price range: $254k - $460k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $405,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    New Bedford
    County
    Bristol
    State
    Massachusetts
    Longitude
    -70.9372
    Latitude
    41.6544
    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
    $146,600
    $304,400
    $451,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,900,000
      19,960 SF

      1751 Acushnet Ave, Unit 1759

      OFFICE/RESIDENTIAL (MIXED USE) • 19,960 SF
      1751 Acushnet Ave, New Bedford, MA 02746-2126
      View Details
    • Value Estimation
      $380,000
      4,536 SF

      199 Phillips Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,536 SF
      199 Phillips Ave, New Bedford, MA 02746-2200
      View Details
    • Value Estimation
      $325,000
      5,625 SF

      1293-1295 Acushnet Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 5,625 SF
      1293-1295 Acushnet Ave, New Bedford, MA 02746
      View Details
    • Value Estimation
      $405,000
      6,963 SF

      1618-1622 Acushnet Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 6,963 SF
      1618-1622 Acushnet Ave, New Bedford, MA 02746
      View Details
    • Value Estimation
      $220,000
      3,021 SF

      1142 Acushnet Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,021 SF
      1142 Acushnet Ave, New Bedford, MA 02746-1902
      View Details
    • Value Estimation
      $480,000
      12,138 SF

      1492-1494 Acushnet Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 12,138 SF
      1492-1494 Acushnet Ave, New Bedford, MA 02746
      View Details

    Similar Nearby for Sale

    • $639,900

      Updated Three-Family Home

      Well-maintained three-unit property with modern upgrades and convenient location.
      100 Peckham St, New Bedford, MA 02746
      View Details
    • $325,000

      Restaurant Ready Commercial Building

      Versatile 2,400 sq. ft. commercial building in New Bedford.
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    • $900,000

      Retail Building with Grocery Store

      Well-maintained retail building suitable for a grocery store or laundromat.
      482-488 Belleville Ave, New Bedford, MA 02746
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    • $1,449,995

      Turnkey Multifamily Investment Opportunity

      10-unit multifamily property with strong cash flow and upside.
      153 Belleville Ave, New Bedford, MA 02746
      View Details
    • $799,000

      Remodeled Mixed-Use Building with Elevator

      Remodeled mixed-use building with apartments, offices, and development potential.
      512 North Front St, New Bedford, MA 02746
      View Details
    • $575,000
      1,865 SF

      New Bedford Multifamily Home

      Spacious 6-bedroom multifamily home with finished basement.
      363 Earle St, New Bedford, MA 02746
      View Details

    Similar Nearby for Lease

    • $2,200 /Mo
      3,872 SF

      Classic Office Space Available

      Two-story office space with basement, updated features, and flexible layout.
      305 Nash Rd, New Bedford, MA 02746
      View Details
    • Contact for pricing

      Retail Space Near Route 140

      Retail spaces with high traffic and convenient location.
      446-462 Mount Pleasant St, New Bedford, MA 02746
      View Details
    • Contact for pricing
      2,076 SF

      Retail Building with Drive-Thru

      Free-standing retail building with drive-thru in busy commercial district.
      131 Nauset St, New Bedford, MA 02746
      View Details
    • Contact for pricing
      5,143 SF

      Retail Space at Riverside Landing

      Retail space available in a busy shopping center.
      119 Coggeshall St, New Bedford, MA 02746
      View Details
    • Contact for pricing
      67,950 SF

      New Bedford Retail Spaces Available

      Prime Retail, Multiple Units, Flexible Sizes
      139 Hathaway Rd, New Bedford, MA 02746
      View Details
    • $108 SF/Yr
      3,075 SF

      New Bedford Office Space for Lease

      3,075 SF Office, $2,300/Month
      376 Nash Rd, New Bedford, MA 02746
      View Details
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    591 Summer St
    New Bedford, MA 02746-1441
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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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