New Bedford Land for Sale
New Bedford is one of the better places in Massachusetts to invest in land, with a rich history and an atmosphere that encourages a lot of growth. Contact one of our real estate professionals today to get started working on your ideal property.
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Land for Sale
Geographic Location
This Bristol County community has a long history associated with seafaring and whaling, having become an industrial location in modern times. With a population of over 95,000, it is one of the biggest cities on the South Coast area, along with Taunton and Fall River.
Buzzard's Bay is just south of the city, with Freetown and Dartmouth bordering this community. One thing that stands out about this city is the number of parks, with Brooklawn, Buttonwood, Fort Rodman/Tabor Park and Hazelwood particularly standing out and offering accessible outdoor recreation to local residents.
I-95 goes through town on the way towards Providence, RI, and US Route 6 goes in an east-west direction, making it easy to travel across or through town quite quickly. Massachusetts highways 18, 24, and 140 also go through various parts of town for greater access and greatly lessen travel time.
What Types of Developments Could You Build?
As one of Massachusetts' bigger and thriving cities, this city is a good one to consider building virtually any type of housing or commercial property. Prices starting in the $70,000's on average will give you a lot to work with as you decide how you're going to best use the property.
Homes
Colonial-style homes have been in high demand here since the early 2000's, with selling prices in the mid-$ 300,000's. Using a lot that's big enough to constitute a subdivision is one way to make maximum use of this space. High-end, eat-in kitchen features are among some of the amenities buyers want to see the most.
Building houses that replicate Colonials and Capes from the early 1900's is another way to appeal to buyers. A house that you build in this style will have the advantage of a classic look, coupled with modern convenience. Split-level and ranch houses are also popular styles likely to generate a lot of interest.
Condominiums are also homes that are worthy of your consideration for any development. Oversized closets in each bedroom are certain to be a selling point for buyers. Balconies are also among some of the features that you will most want to consider as you think about how to develop your lot.
Apartment Buildings
When you're developing apartment buildings, multiple options range from high-rise buildings to townhouse-style apartments to consider. One of the main things that these buildings all have in common is offering the space that prospective renters want the most. With most of the prices ranging between $800 and $2,000 a month depending on the size of the unit, you can feel pretty confident about your chances of a good return.
Kitchens large enough to eat in, with oversized windows, are the main feature of some of the most popular units. Hardwood flooring is a low-maintenance but stylish flooring option. Considering putting built-ins into living room areas is another wise move to make.
Commercial Investment Properties
Because this is such a busy area of Massachusetts, you're likely to only benefit from offering commercial space here. With some rental prices running as high as $15 a month per square foot, you will feel safely assured of getting the most out of your investment. Making the space that you lease out as flexible as possible is likely to attract a greater number of prospects.
Selecting a lot based on visibility will attract renters who need a location that their customers or clients can find easily. Another important point is making sure the lot has good parking. Easy access to public transit stops is another factor that you might want to consider in choosing and developing your lot.
Retail Space
One of the best things about retail space is that it can easily accommodate a diverse range of properties, including those who have mixed usage needs. For example, a lot in the right part of town that features the appropriate zoning might be used for retail, office, or residential space. Combinations of any of these three are becoming more popular as the population grows and businesses expand in the area.
Building along a well-traveled road like Route 140 is always certain to attract attention. A building that will accommodate more than one business easily and allow for expansion is always a good idea. Knowing what businesses and other buyers want the most will make it easier for you to meet their needs.
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Land for Sale