Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    62 Wood St New Bedford, MA 02745-6248

    • Manufacturing properties
    • 49,361 SF
    • 1.60 lot acres
    OFF-MARKET
    Value Estimations
    $2,980,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US38-1764009
    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

    • Brodeur Machine Company, Inc. / Machine Shop / Machinery Parts Manufacturer

    Property Details for 62 Wood St

    Year built
    1940
    Construction
    STEEL FRAME
    Lot size
    1.60 lot acres
    Property size
    49,361 SF
    Zone code
    MUB
    Property type
    Manufacturing properties
    APN
    NEWB M:0116 L:0043
    APU
    NEWBM0116L0043

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,847,000
      Market price range: $2.00M - $8.47M

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

    Location Insight

    • Map
    • Local Demand
    City
    New Bedford
    County
    Bristol
    State
    Massachusetts
    Longitude
    -70.9193
    Latitude
    41.6779
    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
    $34,757
    $429,200
    $963,300
    $1,392,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $7,805,000
      436,061 SF

      27 Healy St

      MANUFACTURING (LIGHT) • 436,061 SF
      27 Healy St, New Bedford, MA 02745
      View Details
    • Value Estimation
      $6,685,000
      93,480 SF

      270 Samuel Barnet Blvd

      MANUFACTURING (LIGHT) • 93,480 SF
      270 Samuel Barnet Blvd, New Bedford, MA 02745-1219
      View Details
    • Value Estimation
      $8,660,000
      64,309 SF

      55 Samuel Barnet Blvd

      MANUFACTURING (LIGHT) • 64,309 SF
      55 Samuel Barnet Blvd, New Bedford, MA 02745-1217
      View Details
    • Value Estimation
      $2,005,000
      13,938 SF

      213 Theodore Rice Blvd

      MANUFACTURING (LIGHT) • 13,938 SF
      213 Theodore Rice Blvd, New Bedford, MA 02745-1213
      View Details
    • Value Estimation
      $2,250,000
      33,291 SF

      136 Riv Rd

      MANUFACTURING (LIGHT) • 33,291 SF
      136 Riv Rd, New Bedford, MA 02745-6132
      View Details
    • Value Estimation
      $3,115,000
      34,275 SF

      200 Welby Rd

      MANUFACTURING (LIGHT) • 34,275 SF
      200 Welby Rd, New Bedford, MA 02745-1129
      View Details

    Similar Nearby for Sale

    • $5,000,000

      Former Nursing Home for Housing

      Former nursing home facility suitable for housing conversion.
      4586 Acushnet Ave, New Bedford, MA 02745
      View Details
    • $459,000

      North End Two-Family Home

      Two-family home in desirable North End location near train.
      18 Edison St, New Bedford, MA 02745
      View Details
    • $799,900

      17-Unit Rooming House Investment

      17-unit rooming house in the North End with cash flow.
      1840 Acushnet Ave, New Bedford, MA 02745
      View Details
    • $499,999

      Well-Maintained New Bedford Two-Family Home

      Two-family home with strong rental potential near amenities.
      135-137 Query St, New Bedford, MA 02745
      View Details
    • $5,990,000

      Historic Waterfront Commercial Landmark

      Restored waterfront building with flexible layouts and harbor views.
      61 Merrills Wharf, New Bedford, MA 02745
      View Details
    • New
      $675,000
      Pending

      Auto Service Garage For Sale

      Highly visible auto service garage near national brands.
      2147 Acushnet Ave, New Bedford, MA 02745
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr

      Warehouse/Manufacturing Space For Lease

      Prime business park location, ideal for warehousing or manufacturing.
      100 Duchaine Blvd, New Bedford, MA 02745
      View Details
    • $500 /Mo

      Professional Office Space Available

      Professional office space for lease in prime location.
      696 Ashley Blvd, New Bedford, MA 02745
      View Details
    • Contact for pricing
      4,719 SF

      Versatile Office Space in New Bedford

      Adaptable office building with flexible layout and convenient location.
      1167-1177 Ashley Blvd, New Bedford, MA 02745
      View Details
    • Contact for pricing
      3,600 SF

      Retail Space with Drive-Thru

      Retail space suitable for QSR or convenience retail center.
      1230 Braley Rd, New Bedford, MA 02745
      View Details
    • $18 SF/Yr
      2,500 SF

      Retail Space Near Train Station

      Highly visible retail space near Church St. Train Station.
      1014-1068 Kings Hwy, New Bedford, MA 02745
      View Details

    Property Visit Statistics

    • Visits by month
      1.1k
    • Visitors by month
      515
    • Avg Time on site
      66 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    62 Wood St
    New Bedford, MA 02745-6248
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.