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Freestones 41 William St

7,380 SF 100% Leased Retail Building New Bedford, MA 02740 £1,242,675 (£168/SF)

Investment Highlights

  • Turn Key Restaurant with significant updates to plumbing, electrical, Ansul, HVAC
  • Hot location close to South Coast Rail and Waterfront Redevelopment
  • Fully renovated 3 bedroom apartment presently used for short term rental

Executive Summary

41-43 William Street "Freestones" is the heart of Downtown New Bedford. This iconic building and restaurant are located in the in close proximity to the Whaling National Park's Visitors Center and the world famous Whaling Museum. Additional economic drivers that will impact this site's performance in the near future include train/rail service to and from Boston, Offshore Wind Industry in the Port of New Bedford, and the New Bedford Waterfront Redevelopment Plan of State Pier. Historically, a high performing restaurant use has occupied the first floor and large 3 bedroom apartment on the second level compliments the hospitality use and the pro forma of the property ( a financial package is available for qualified buyers ). Since 2022 the property has undergone extensive renovations to include residential rehab of the apartment, new HC approved windows, plumbing, electrical, HVAC, Ansul system, flooring, tile, bar top/counters, FRP, kitchens, storage. This is an opportunity.

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,380 SF
Building Class
C
Year Built
1885
Price
£1,242,675
Price Per SF
£168
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
1.85
Land Acres
0.09 AC
Opportunity Zone
Yes
Zoning
2BUS, New Bedford - Commercial
Frontage
85 ft on 2nd St

Amenities

  • Bus Route
  • Air Conditioning
Walk Score ®
Very Walkable (89)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
NEWB-000053-000000-000095
Land Assessment
£130,422
Improvements Assessment
£756,414
Total Assessment
£886,836
  • Listing ID: 32515818

  • Date on Market: 19/07/2024

  • Last Updated:

  • Address: 41 William St, New Bedford, MA 02740

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