888 Ashley BlvdNew Bedford, MA 02745

Property Details for 888 Ashley Blvd

Year built

1962

Construction

STEEL FRAME

Lot size

0.48 AC

Property size (Sq ft)

6,825 SF

Zone code

MUB

Property type

Retail properties

Property subtype

Turn key restaurants

APN

NEWB M:0127-C L:0134

APU

NEWBM0127CL0134

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,658,713

  6.5%

  $1,531,120

  7%

  $1,421,754

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,247,221

  Geo Method

  $2,247,221

• Alternative Use

  Use

  Valuation

  Residential

  $1,291,557

  Hospitality

  $1,183,059

  Educational

  $984,291

  Medical

  $1,018,143

  Retail

  $1,531,120

Location Insight

City

New Bedford

County

Bristol

State

Massachusetts

Latitude

41.6845

Longitude

-70.9338

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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