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Property profile & analytics
OFF-MARKET
Estimated value
$1,045,000
Retail properties & Spaces
10 Steele Blvd Berlin, CT 06037-2363
Individually Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US15-1052378
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
2023
Construction
STEEL FRAME
Total area
11,342 SF
Lot
0.77 ac (33,541 SF)
Zoning code
CCD-2
APN
BERL M:9-2 B:76 L:73
UPID
US15-1052378
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$1.05M
Owner & transaction history
Newport 903-913 Farmingto · 5 yrs held
Newport 903-913 Farmingto
since 2020
5 recorded transactions
Zoning & alternative use
CCD-2 · Berlin, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Berlin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berlin submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,305,000
Current use
OFFICE BUILDING
$1,250,000
Change: -4% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,135,000
Change: -13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,070,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.05M
Range $941k – $1.15M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$92 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$35,421
Tax year 2024
Assessed value
$1,172,500
Assessed 2024
Previous assessed
$1,172,500
+0.0% YoY
Effective rate
3.02%
On assessed value
Assessed land
$316,500
Assessed improvement
$856,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
2023
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
4
Total area
11,342 SF
Lot
0.77 ac (33,541 SF)
Zoning code
CCD-2
APN
BERL M:9-2 B:76 L:73
UPID
US15-1052378
Jurisdiction
BERLIN
Zoning & alternative use
CCD-2 · Berlin, CT
Zoning CCD-2 · permitted uses
CCD-2 · Berlin, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Berlin. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2023
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
4
Lot
0.77 ac
Current owner
From public records · entity-resolved
Newport 903-913 Farmingto
Individual
Free & Clear · 5 yrs held
Mailing address
710 MAIN ST STE #11, PLANTSVILLE, CT 06479-1565
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2020
—
Newport 903-913 Farmingto
Berlin Town Of
Quit Claim Deed
related
—
Apr 25, 2014
$21,374
Fav Realty LLC
Berlin Town Of
Quit Claim Deed
—
Oct 6, 2011
$900,000
Berlin Town Of
Chang,dong Whan
Warranty Deed
—
Feb 22, 2006
$535,080
Dong Whan Chang
Fjf Realty INC
Warranty Deed
—
Feb 22, 2006
$356,720
Dong Whan Chang
Fjf Realty INC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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