New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,885,000
Office buildings
72 Water St, New Bedford, MA 02740-6264
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US38-0773082
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1855
Construction
FRAME
Total area
14,151 SF
Lot
0.19 ac (8,159 SF)
Zoning code
MUB
APN
NEWB M:0053 L:0068
UPID
US38-0773082
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.77M
Blend (final)
Blend
$1.89M
Owner & transaction history
Candleworks Prop LLC · 5 yrs held
Candleworks Prop LLC
since 2020
Last sale
$1.8M
7 recorded transactions
Zoning & alternative use
MUB · New Bedford, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.3M
+23.3%
Apartment house (5+ units)
$2.3M
+22.0%
Neighborhood: shopping center
$2.2M
+16.4%
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
$2,300,000
ML approach
$2,365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,855,000
Current use
AUTO REPAIR, GARAGE
$2,290,000
Change: +23% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,265,000
Change: +22% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,160,000
Change: +16% · Conversion: Difficult
RESTAURANT
$2,155,000
Change: +16% · Conversion: Moderate
RETAIL STORES
$2,115,000
Change: +14% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,870,000
Change: +1% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,840,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$1.89M
Range $1.70M – $2.07M · ±10% · vs last sale $1.75M (Jul 31 2020)
Last sale anchor
$1.75M
Jul 31 2020
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
$133 / 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
$35,556
Tax year 2024
Assessed value
$1,424,500
Assessed 2024
Previous assessed
$1,424,500
+0.0% YoY
Effective rate
2.50%
On assessed value
Assessed land
$289,500
Assessed improvement
$1,135,000
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1855
Construction
FRAME
Heating
STEAM
Cooling
YES
Buildings
1
Stories
3
Units
4
Bathrooms
8
Total area
14,151 SF
Lot
0.19 ac (8,159 SF)
Zoning code
MUB
APN
NEWB M:0053 L:0068
UPID
US38-0773082
Jurisdiction
NEW BEDFORD
Zoning & alternative use
MUB · New Bedford, MA
Zoning MUB · permitted uses
MUB · 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
$1.9M
AUTO REPAIR, GARAGE
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
RESTAURANT
Est. value
$2.2M
RETAIL STORES
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.8M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
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
1855
Construction
FRAME
Heating
STEAM
Cooling
Yes
Stories
3
Buildings
1
Units
4
Bathrooms
8
Lot
0.19 ac
Current owner
From public records · entity-resolved
Candleworks Prop LLC
Entity
Mailing address
72 N WATER ST, NEW BEDFORD, MA 02740-6264
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 22, 2021
—
Candleworks Prop LLC
—
Deed
related
$2,000,000 · Bristol County Savings Bank
Sep 2, 2020
—
Candleworks Prop LLC
—
Deed
related
$2,240,665 · New Bedford INC
Jul 31, 2020
$2,500,000
Candleworks Prop LLC
New Bedford INC
Quit Claim Deed
$2,240,665 · New Bedford INC
Jun 13, 2016
$1,750,000
New Bedford INC
Candleworks Ventures L
Quit Claim Arm's Length For Ne States
$1,662,500 · Baycoast Bank
Jan 3, 2013
$1
Bedford Redev Auth New
Candleworks Ventures LLC
Grant Deed
related
—
Jun 18, 2012
—
Candleworks Ventures LLC
—
Grant Deed
related
$50,000 · New Bedford Economic Development Council
Jun 13, 2012
—
Candleworks Ventures LLC
—
Grant Deed
related
$500,000 · Ma Housing Finance Authority
Feb 14, 2007
$1,825,000
72 North Water St LLC
Hp Rlty Grp LLC
Grant Deed
$1,351,250 · Zuckerman Family Nomi
Feb 13, 2002
—
Hp Rlty Group LLC
—
Deed Of Trust
related
$425,000 · First Federal Savings Bank
Nov 23, 1999
$525,000
Hp Rlty Grp LLC
Compass Bk Svgs
Grant Deed
$420,000 · Compass Bank For Savings
—
—
Candleworks Prop LLC
—
Deed Of Trust
related
$2,240,665 · New Bedford INC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 72 Water St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
