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87 Tremont st 8,061 SF 100% Leased Industrial Building New Bedford, MA 02740 $920,093 CAD ($114.14 CAD/SF) 7.45% Cap Rate
Investment Highlights
- Income-producing asset with 31 storage units and upside through lease-up.
- Functional building design with overhead garage doors for easy access.
- On-site parking and a half-bathroom enhancing tenant and operator convenience.
- Located near downtown New Bedford, major roadways, and residential communities.
- Equipped with public water, sewer, and natural gas heat to support operations.
Executive Summary
Rare opportunity to acquire a self-storage facility in New Bedford offering immediate income and substantial upside potential. This approximately 8,061 sq ft industrial building features 31 storage units with a mix of 6x6 and 10x15 units, on-site parking, and a half bath for operational convenience. Current gross annual income is approximately $49,200, with multiple vacant units providing an excellent opportunity to increase occupancy and boost cash flow. The property offers public water and sewer, gas heat, overhead garage doors, and a functional layout designed for efficient self-storage operations. Strategically located near downtown New Bedford, major roadways, residential neighborhoods, and local businesses, creating a strong customer base and long-term demand. Ideal for investors seeking a stable income-producing asset with significant value-add potential through lease-up and rent optimization.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$68,589
|
$8.51
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$68,589
|
$8.51
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $68,589 |
| Annual Per SF | $8.51 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $68,589 |
| Annual Per SF | $8.51 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $920,093 CAD | Building Class | C |
| Price Per SF | $114.14 CAD | Lot Size | 0.26 AC |
| Sale Type | Investment or Owner User | Rentable Building Area | 8,061 SF |
| Cap Rate | 7.45% | No. Stories | 1 |
| Property Type | Industrial | Year Built | 1930 |
| Property Subtype | Warehouse | ||
| Zoning | RB - Residence B | ||
| Price | $920,093 CAD |
| Price Per SF | $114.14 CAD |
| Sale Type | Investment or Owner User |
| Cap Rate | 7.45% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.26 AC |
| Rentable Building Area | 8,061 SF |
| No. Stories | 1 |
| Year Built | 1930 |
| Zoning | RB - Residence B |
Amenities
- Storage Space
Utilities
- Water - City
- Sewer - City
1 1
Moderately walkable
70/100
Fairly drivable
50/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | NEWB-000044-000000-000551 | Improvements Assessment | $212,217 CAD |
| Land Assessment | $227,496 CAD | Total Assessment | $439,713 CAD |
Property Taxes
Parcel Number
NEWB-000044-000000-000551
Land Assessment
$227,496 CAD
Improvements Assessment
$212,217 CAD
Total Assessment
$439,713 CAD
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87 Tremont st
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