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Property profile & analytics
OFF-MARKET
Estimated value
$685,000
Showrooms
109-111 Bank St New London, CT 06320
Entity Owned
1-yr Hold
Free & Clear
Property ID
US15-0124202
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1790
Construction
FRAME
Total area
7,023 SF
Lot
0.26 ac (11,124 SF)
APN
NLON M:G13 B:0140 L:0012
UPID
US15-0124202
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
$570k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$703k
Blend (final)
Blend
$685k
Owner & transaction history
109 Bank Street LLC · 1 yrs held
109 Bank Street LLC
since 2025
Last sale
$795,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$965,000
+76.3%
Retail stores
$785,000
+43.2%
Apartment house (5+ units)
$640,000
+16.8%
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 New London submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New London 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
$590,000
ML approach
$570,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$545,000
Current use
OFFICE BUILDING
$965,000
Change: +76% · Conversion: Easy
RETAIL STORES
$785,000
Change: +43% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$640,000
Change: +17% · Conversion: Moderate
Blend value · Realmo final
$685k
Range $617k – $754k · ±10% · vs last sale $795k (Mar 2 2025)
Last sale anchor
$795k
Mar 2 2025
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
$98 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$22,519
Tax year 2023
Assessed value
$585,970
Assessed 2023
Previous assessed
$585,970
+0.0% YoY
Effective rate
3.84%
On assessed value
Assessed land
$116,690
Assessed improvement
$469,280
Applied tax rate
384.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1790
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
3
Total area
7,023 SF
Lot
0.26 ac (11,124 SF)
APN
NLON M:G13 B:0140 L:0012
UPID
US15-0124202
Jurisdiction
NEW LONDON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$545,000
OFFICE BUILDING
Est. value
$965,000
RETAIL STORES
Est. value
$785,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$640,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1790
Construction
FRAME
Heating
FORCED AIR
Stories
3
Buildings
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
109 Bank Street LLC
Entity
Free & Clear · 1 yrs held
Mailing address
808 BERKELEY ST, BOCA RATON, FL 33487-2450
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2025
$795,000
109 Bank Street LLC
Seaside Bank Street LLC
Warranty Deed
—
Dec 28, 2021
—
Seaside Bank Street LLC
Amy Mase
Quit Claim Deed
related
—
Sep 6, 2011
$800,000
Riverview Realty Assoc
Bank Street LLC
Warranty Deed
$640,000 · 111 Bank Street LLC
Jun 21, 2007
$1
111 Bank Street LLC
Mase,luciano
Grant Deed
related
—
Oct 22, 1999
$257,900
111 Bank St LLC
Hagar,eliot
Warranty Deed
related
$207,500 · Zenon Grzybowski
Dec 21, 1987
—
Brian Beckwith
—
Deed Of Trust
related
$250,000 · Ne Federal Savings Bank
Jul 15, 1987
—
Brian Beckwith
—
Deed Of Trust
related
$159,000 · Zwi Kohorn
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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