October 17, 2023 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of a former Santander Bank in New Bedford, Massachusetts. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $430,000.
The former Santander Bank is located at 909 Ashley Boulevard in New Bedford, Massachusetts. The Property consists of a 2,109 square foot single tenant brick building on a 0.62-acre corner parcel of land. The Property benefits from two points of access, ample on-site parking, and a dedicated drive-thru lane. The Property is zoned Mixed-Use Business District “MUB” which is one of the most versatile zoning designations in the city of New Bedford. The MUB zone allows for a variety of uses including, but not limited to commercial or retail establishment, bank or financial institution, day care, business, professional or medical office, restaurant or food service (with approval from the zoning board), and health or fitness club. The Property is located at the signalized intersection of Acushnet Avenue (MA Route 18) and Phillips Road and enjoys outstanding visibility and frontage. The Property is strategically positioned in the northern portion of New Bedford, providing convenient access for area residents. The Property is 0.5-miles from the Greater New Bedford Regional Vocational Technical High School and the Normandin Middle School. Additionally, the Property enjoys close proximity to MA Route 140 which links new Bedford to Taunton to the north and to Interstate 195 and US Route 6 to the south.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.