Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    151 Montauk Ave, Unit 5 New London, CT 06320-4842

    • Office Properties & Spaces
    • 1,602 SF
    OFF-MARKET
    Value Estimations
    $225,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0302453
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 151 Montauk Ave

    Year built
    1947
    Property size
    1,602 SF
    Property type
    Office Properties & Spaces
    APN
    NLON M:E16 B:0099 L:0011-5
    APU
    NLONME16B0099L00115

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $183,000
      Market price range: $98.7k - $326k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New London
    County
    New London
    State
    Connecticut
    Longitude
    -72.1052
    Latitude
    41.3441
    CBSA code
    35980
    CBSA name
    NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,803
    $0.00
    $155,830
    $155,830
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $380,000
      8,631 SF

      216 Broad St Fl, Unit 1

      CONDOMINIUM OFFICES • 8,631 SF
      216 Broad St Fl, New London, CT 06320-5335
      View Details
    • Value Estimation
      $230,000
      467 SF

      931 Bank St, Unit 12

      CONDOMINIUM OFFICES • 467 SF
      931 Bank St, New London, CT 06320-2702
      View Details
    • Value Estimation
      $230,000
      420 SF

      931 Bank St, Unit 14

      CONDOMINIUM OFFICES • 420 SF
      931 Bank St, New London, CT 06320-2702
      View Details
    • Value Estimation by Request

      70 State St

      Coworking space
      70 State St, New London, CT 06320
      View Details
    • Value Estimation by Request

      193 Bank St

      Office space
      193 Bank St, New London, CT 06320
      View Details
    • Value Estimation
      $235,000
      1,592 SF

      53 Granite St, Unit 2

      CONDOMINIUM OFFICES • 1,592 SF
      53 Granite St, New London, CT 06320-5945
      View Details

    Similar Nearby for Sale

    • $3,750,000
      48,843 SF

      New London Office Complex Investment

      48,843 SF Multi-Building Office Complex
      224 Bank St, New London, CT 06320
      View Details
    • $6,500,000
      81,312 SF

      State Street Executive Office Building

      Prime New London Office Space, 81,312 SF
      153 State St, New London, CT 06320
      View Details
    • Contact for pricing
      2,459 SF

      Mixed-Use Space in Downtown Location

      Office or retail spaces available in a high-traffic downtown area.
      281 State St, New London, CT 06320
      View Details
    • $3,750,000
      48,843 SF

      New London Office Building

      Office building for sale in New London, Connecticut.
      224-258 Bank St, New London, CT 06320
      View Details
    • $264,900
      2,100 SF

      Versatile Office/Warehouse Space For Sale

      Office/warehouse with garage doors, kitchen, bath, and parking.
      264 Vauxhall St, New London, CT 06320
      View Details
    • $249,900

      New London Commercial Space Available

      Versatile commercial space suitable for various purposes in New London.
      109 Blinman St, New London, CT 06320
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      259,566 SF

      New London Mall Office Space

      Prime New London office suites, various sizes.
      351 Frontage Rd, New London, CT 06320
      View Details
    • $15 SF/Yr
      2,271 SF

      New London Creative Office Suites

      Modern Offices, Utilities Included, Great Location
      75 Granite St, New London, CT 06320
      View Details
    • $315 /Mo
      6,200 SF

      Small Office Spaces For Lease

      Small office spaces for lease, rent includes utilities.
      75 Granite St, New London, CT 06320
      View Details
    • $16 SF/Yr
      1,306 SF

      Class A Office Space Available

      Class A office space for lease in Shaw's Cove.
      5 Cv Shaw's, New London, CT 06320
      View Details
    • $15 SF/Yr
      1,900 SF

      New London Office Space Available

      1900 square foot office space for rent in New London.
      70-75 State St, New London, CT 06320
      View Details
    • $9 SF/Yr
      7,086 SF

      New London Office Space Available

      Flexible Workspaces in CT
      125 Eugene O'neill Dr, New London, CT 06320
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    151 Montauk Ave, Unit 5
    New London, CT 06320-4842
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.