268-270 Union St, New Bedford, MA 02740
- $599,999
- 4,062
- SqFt
- List Price
- $599,999
- Price Change
- ▼ $80,000 1782014408
- Status
- UNDER AGREEMENT
- MLS#
- 73503412
- Living Area
- 4,062
- Lot Size (Acres)
- 0.11
- Year Built
- 1950
Property Description
Prime value-add investment opportunity in the heart of downtown New Bedford. This well-positioned mixed-use property features two commercial units and offers immediate cash flow with significant upside potential. Unit 1 is occupied by Fall River Pawn Brokers, providing stable rental income and an attractive 8.9% capitalization rate, making it an excellent foundation for investors seeking dependable returns from day one. Unit 2 is currently vacant, presenting a tremendous value-add opportunity for investors or owner-users. Once leased at market rent, Unit 2 has the potential to generate an estimated 12%–13% capitalization rate, significantly increasing the property's overall return and cash flow. The space offers a flexible layout consisting of a welcoming reception area, seven private offices and/or conference rooms, a half bathroom, and central HVAC throughout, making it suitable for a variety of professional or service-based businesses.
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Additional Information
- Taxes
- $9,803
Mortgage Calculator
Listing courtesy of Listing Agent: Mington Tea from Listing Office: SmartHub Boston.
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