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

    615 Broadway Fall River, MA 02724-2905

    • Commercial real estate
    • 6,588 SF
    • 0.18 lot acres
    OFF-MARKET
    Last Sale
    Nov 18, 2024
    Value Estimations
    $730,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-0630510
    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

    • Boule Funeral Home / Social Service Agency
    • Wilkinson Thomas E / Social Service Agency

    Property Details for 615 Broadway

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.18 lot acres
    Property size
    6,588 SF
    Zone code
    R-4
    Property type
    Commercial real estate
    APN
    FALL M:0G-21 B:0000 L:0016
    APU
    FALLM0G21B0000L0016

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $727,000
      Market price range: $356k - $1.09M
      AI Estimate
      $657,000
      Market price range: $179k - $1.04M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $625,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,055,000
      Change: +69% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,040,000
      Change: +67% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,005,000
      Change: +62% Conversion: Difficult
      WAREHOUSE, STORAGE
      $870,000
      Change: +40% Conversion: Difficult
      RESTAURANT
      $870,000
      Change: +39% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $745,000
      Change: +20% Conversion: Moderate
      RETAIL STORES
      $700,000
      Change: +13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Fall River
    County
    Bristol
    State
    Massachusetts
    Longitude
    -71.1695
    Latitude
    41.6928
    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
    $13,943
    $104,500
    $477,900
    $582,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $520,000
      14,078 SF

      951 Slade St

      SHOW ROOM, WAREHOUSE • 14,078 SF
      951 Slade St, Fall River, MA 02724-3111
      View Details
    • Value Estimation by Request
      4,250 SF

      131 Crawford St

      SHOW ROOM, WAREHOUSE • 4,250 SF
      131 Crawford St, Fall River, MA 02724
      View Details
    • Value Estimation
      $2,515,000
      14,948 SF

      829 Main St

      SHOW ROOM, WAREHOUSE • 14,948 SF
      829 Main St, Fall River, MA 02724-2944
      View Details
    • Value Estimation by Request
      2,000 SF

      222 Montaup St

      SHOW ROOM, WAREHOUSE • 2,000 SF
      222 Montaup St, Fall River, MA 02724-3218
      View Details
    • Value Estimation by Request
      2,000 SF

      139 Shaw St

      SHOW ROOM, WAREHOUSE • 2,000 SF
      139 Shaw St, Fall River, MA 02724-1423
      View Details
    • Value Estimation
      $1,125,000
      0.42 Acres

      79 Wilbur St

      COMMERCIAL (GENERAL) • 0.42 Acres
      79 Wilbur St, Fall River, MA 02724
      View Details

    Similar Nearby for Sale

    • $1,300,000

      Mixed-Use Commercial Opportunity

      Two buildings totaling 11,743 SF on 0.85 acres.
      1467 S Main St, Fall River, MA 02724
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    • Contact for pricing
      0.69 Acres

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      6,500 sqft commercial space for lease in Fall River.
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    • $3,250,000
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    • $1,625,000

      Mixed-Use Property in Fall River

      Well-maintained mixed-use property with apartments and storefronts in Fall River.
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    • $595,000

      Well-Maintained Three-Family Home

      Three-family home with backyard, deck, and ample parking.
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    • $4,199,999

      29-Unit Multifamily Portfolio in Fall River

      29 units in Fall River, offering significant upside potential.
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    Similar Nearby for Lease

    • $1,200 /Mo

      High-Visibility Retail Space Available

      Ground-level retail space on a busy corner with high traffic.
      233 East Main St, Fall River, MA 02724
      View Details
    • $4,000 /Mo
      5,001 SF

      Fall River Commercial Leasing Opportunity

      Versatile commercial space ideal for various business uses.
      593 Montaup St, Fall River, MA 02724
      View Details
    • Contact for pricing
      45,000 SF

      Fall River Mill Space Available

      Manufacturing/warehouse spaces available in Fall River mill.
      113 Griffin St, Fall River, MA 02724
      View Details
    • $14 SF/Yr

      Tuscan Building Office Space

      Affordable office space with reception area and break room.
      145 Globe St, Fall River, MA 02724
      View Details
    • $9 SF/Yr

      Commercial Space with High Ceilings

      6,500 sqft commercial space for lease with extension options.
      1533 South Main St, Fall River, MA 02724
      View Details
    • $1,800 /Mo
      1,200 SF

      Fall River Retail Space Available

      Retail space for rent in Fall River, Massachusetts.
      1433 So Main St, Fall River, MA 02724
      View Details
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    615 Broadway
    Fall River, MA 02724-2905
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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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