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Property profile & analytics
OFF-MARKET
Estimated value
$1,805,000
Retail space
89 Water St, New Bedford, MA 02740-6262
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US38-1113686
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1910
Construction
FRAME
Total area
19,140 SF
Lot
0.3 ac (13,020 SF)
Zoning code
IA
APN
NEWB M:0053 L:0102
UPID
US38-1113686
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
$1.92M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.88M
Blend (final)
Blend
$1.81M
Owner & transaction history
Franklin Hospitality Corp · 3 yrs held
Franklin Hospitality Corp
since 2023
Last sale
$1.7M
7 recorded transactions
Zoning & alternative use
IA · New Bedford, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.9M
+2.2%
Restaurant
$2.9M
+1.9%
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
$1,870,000
ML approach
$1,915,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,860,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,925,000
Change: +2% · Conversion: Moderate
RESTAURANT
$2,915,000
Change: +2% · Conversion: Easy
WAREHOUSE, STORAGE
$2,530,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$2,510,000
Change: -12% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,485,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$1.81M
Range $1.62M – $1.99M · ±10% · vs last sale $1.70M (Jun 9 2023)
Last sale anchor
$1.70M
Jun 9 2023
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
$94 / 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
$38,690
Tax year 2024
Assessed value
$1,550,100
Assessed 2024
Previous assessed
$1,550,100
+0.0% YoY
Effective rate
2.50%
On assessed value
Assessed land
$383,100
Assessed improvement
$1,167,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1910
Construction
FRAME
Heating
SPACE
Buildings
1
Stories
3
Units
1
Bathrooms
6
Total area
19,140 SF
Lot
0.3 ac (13,020 SF)
Zoning code
IA
APN
NEWB M:0053 L:0102
UPID
US38-1113686
Jurisdiction
NEW BEDFORD
Zoning & alternative use
IA · New Bedford, MA
Zoning IA · permitted uses
IA · 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
RETAIL STORES Current
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.9M
RESTAURANT
Est. value
$2.9M
WAREHOUSE, STORAGE
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.5M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
WAREHOUSE, STORAGE
OFFICE BUILDING
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
1910
Construction
FRAME
Heating
SPACE
Stories
3
Buildings
1
Units
1
Bathrooms
6
Lot
0.3 ac
Current owner
From public records · entity-resolved
Franklin Hospitality Corp
Entity
Mailing address
89 N WATER ST, NEW BEDFORD, MA 02740-6262
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 30, 2025
—
Franklin Hospitality Corp
—
Deed
related
$4,500,000 · Baycoast Bank
Jun 9, 2023
$1,700,000
Franklin Hospitality Corp
89 North Water St T
Quit Claim Arm's Length For Ne States
—
Sep 3, 2020
$985,000
89 N Water Street T
Everett D Mills
Quit Claim Deed
$3,000,000 · Flt 1 LLC
Aug 31, 2020
$985,000
89 N Water Street T
Everett D Mills
Quit Claim Deed
$3,000,000 · Flt 1 LLC
Aug 13, 2003
—
Claudia L Mills
—
Deed Of Trust
related
$50,000 · First Federal Savings Bank
Sep 25, 1998
—
Everett D Mills JR.
—
Deed Of Trust
related
$515,000 · First Federal Savings Bank
Jan 30, 1997
$225,000
Everett D Mills JR.
Drouin,raymond H
Grant Deed
$168,000 · Rockland Trust Co
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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