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The bay itself is located little more than one kilometre to the northwest of the city centre, and has been transformed into concrete wharves.

The headquarters of the Auckland port authority (Ports of Auckland) is located here, close to Princes Wharf, as is the terminal of the ferries which run between Auckland and the North Shore at Devonport and Birkenhead , and also out to Waiheke Island. Other wharves run the length of the Auckland foreshore for three kilometres to Mechanics Bay in the east, close to the entrance of the Waitemata Harbour.

The inner part of Freemans Bay has been transformed in recent years into the Viaduct Basin , which served as a headquarters for the various yachting syndicates involved in the America's Cup campaigns of 2000 and 2003.

The suburb of Freemans Bay is located a little over a kilometre to the southwest of the bay itself. It is surrounded by the suburbs of St. Mary's Bay, Ponsonby and Newton, and by the city centre, which lies to the east of it.