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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Turn key restaurants
888 Ashley Blvd, New Bedford, MA 02745-2406
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-1576432
Property summary
AI-generated overview
This 12,075 square foot, single-story building situated on a 20,800 square foot lot at 888 Ashley Blvd, New Bedford, MA 02745 presents a unique investment opportunity. Currently vacant, the property offers significant redevelopment potential. Previously used as a restaurant, the building's versatile layout allows for various uses, including retail or another restaurant concept. The building includes a full basement, adding to its overall square footage. The property boasts 35 parking spaces and benefits from high visibility and accessibility on a main thoroughfare. Zoned MUB, the site allows for multi-family or mixed-use development, addressing the current housing demand in New Bedford. This prime corner lot presents a compelling opportunity for investors and business owners seeking to capitalize on New Bedford's revitalization. The asking price is $799,999, translating to $66.25 per square foot. Built in 1962, this property offers a chance to create a thriving business or residential development in a rapidly growing area. The substantial lot size and flexible zoning provide a multitude of options for future development. Don't miss this chance to acquire a key piece of New Bedford real estate.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1962
Construction
STEEL FRAME
Total area
6,825 SF
Lot
0.48 ac (20,800 SF)
Zoning code
MUB
APN
NEWB M:0127-C L:0134
UPID
US38-1576432
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
$710k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$586k
Blend (final)
Blend
$675k
Owner & transaction history
Jun C Zhang · 3 yrs held
Jun C Zhang
since 2022
Last sale
$450,000
4 recorded transactions
Zoning & alternative use
MUB · New Bedford, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+6.2%
Apartment house (5+ units)
$1.1M
+5.1%
Neighborhood: shopping center
$1.0M
+0.3%
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
$705,000
ML approach
$710,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,040,000
Current use
AUTO REPAIR, GARAGE
$1,105,000
Change: +6% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,095,000
Change: +5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,040,000
Change: +0% · Conversion: Difficult
RETAIL STORES
$1,030,000
Change: -1% · Conversion: Easy
WAREHOUSE, STORAGE
$905,000
Change: -13% · Conversion: Difficult
OFFICE BUILDING
$895,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$675k
Range $608k – $743k · ±10% · vs last sale $450k (Aug 2 2022)
Last sale anchor
$450k
Aug 2 2022
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
$99 / 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
$18,695
Tax year 2024
Assessed value
$749,000
Assessed 2024
Previous assessed
$749,000
+0.0% YoY
Effective rate
2.50%
On assessed value
Assessed land
$323,300
Assessed improvement
$425,700
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1962
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
6,825 SF
Lot
0.48 ac (20,800 SF)
Zoning code
MUB
APN
NEWB M:0127-C L:0134
UPID
US38-1576432
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
RESTAURANT Current
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
RETAIL STORES
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$905,000
OFFICE BUILDING
Est. value
$895,000
RESTAURANT Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
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
1962
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
0.48 ac
Current owner
From public records · entity-resolved
Jun C Zhang
Individual
Mailing address
888 ASHLEY BLVD, NEW BEDFORD, MA 02745-2406
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 2, 2022
$300,000
Jun C Zhang
Zi Q Zhang
Quit Claim Arm's Length For Ne States
related
—
Jul 9, 1998
$450,000
Zi Q Zhang
Ilm RT
Grant Deed
$340,000 · Zenon Grzybowski
Jul 10, 1997
$325,000
Ilm RT
Lynch,gerald P
Grant Deed
—
Jan 12, 1990
$400,000
Gerald P Lynch
Provencher,mona
Grant Deed
$450,000 · Citizens Bank Of Ma
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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