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Property profile & analytics
OFF-MARKET
Estimated value
$1,775,000
Office buildings
114 New Park Ave, North Franklin, CT 06254-1841
Entity Owned
26-yr Hold
~
Est. High Equity
Property ID
US15-0573541
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2001
Construction
FRAME
Total area
10,300 SF
Lot
2.2 ac (95,832 SF)
Zoning code
IND
APN
FRAN M:44 B:30 L:U3
UPID
US15-0573541
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
$1.58M
Blend (final)
Blend
$1.78M
Owner & transaction history
395/2 Flex Center LLC · 26 yrs held
395/2 Flex Center LLC
since 2000
6 recorded transactions
Zoning & alternative use
IND · North Franklin, 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 North Franklin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Franklin 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
OFFICE BUILDING
$1,415,000
Current use
RETAIL STORES
$1,150,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$1.78M
Range $1.60M – $1.95M · ±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
$172 / 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
$16,838
Tax year 2023
Assessed value
$733,040
Assessed 2023
Previous assessed
$704,520
+4.0% YoY
Effective rate
2.30%
On assessed value
Assessed land
$103,490
Assessed improvement
$629,550
Applied tax rate
354.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2001
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Total area
10,300 SF
Lot
2.2 ac (95,832 SF)
Zoning code
IND
APN
FRAN M:44 B:30 L:U3
UPID
US15-0573541
Jurisdiction
FRANKLIN
Zoning & alternative use
IND · North Franklin, CT
Zoning IND · permitted uses
IND · North Franklin, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Franklin. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
RETAIL STORES
Est. value
$1.2M
OFFICE BUILDING Current
RETAIL STORES
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
2001
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
2.2 ac
Current owner
From public records · entity-resolved
395/2 Flex Center LLC
Entity
Mailing address
PO BOX 276, MYSTIC, CT 06355-0276
Ownership since
2000
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2013
—
3952 Flex Center
—
Deed Of Trust
related
$800,000 · Rockville Bank
Jan 6, 2011
—
Flex Center LLC
—
Deed Of Trust
related
$750,000 · Chelseagroton Savings Bank
Mar 15, 2001
—
395-2 Flex Center LLC
—
Deed Of Trust
related
$1,000,000 · Citizens Bank Of Ct
Nov 2, 2000
—
Flex Center LLC
—
Deed Of Trust
related
$1,300,000 · Theodore Tylaska
Jun 8, 2000
$85,000
395/2 Flex Center LLC
Norwich Comm Dev Corp
Warranty Deed
—
Sep 11, 1992
—
Norwich Comm Dev Corp
—
Deed Of Trust
related
$413,522 · Connecticut National Bank
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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