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Property profile & analytics
OFF-MARKET
Estimated value
$830,000
Banks
122 Main St New Canaan, CT 06840-4709
Entity Owned
24-yr Hold
~
Est. High Equity
Property ID
US15-0284026
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1927
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,044 SF
Lot
0.16 ac (6,970 SF)
Zoning code
RETA
APN
NCAN M:000T B:074 L:00918
UPID
US15-0284026
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
Current use
Occupant on record · Public records
-
Chase Mortgage Loan Service Bank
-
Chase Bank Bank Loan Service
-
Stephen Mazzarelli - Chase Home Lending Advisor - NMLS ID 722117 Loan Service Bank
-
Simon Johnson - Chase Home Lending Advisor - NMLS ID 704332 Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$605k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$830k
Owner & transaction history
Lecher INC · 24 yrs held
Lecher INC
since 2002
1 recorded transaction
Zoning & alternative use
RETA · New Canaan, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
2004 Revision
Top alternative use upside
Auto repair, garage
$1.2M
+1.4%
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 Canaan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Canaan 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
$605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$1,200,000
Current use
AUTO REPAIR, GARAGE
$1,215,000
Change: +1% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,085,000
Change: -9% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,080,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$830k
Range $747k – $913k · ±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
$69 / 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
$75,703
Tax year 2023
Assessed value
$3,997,000
Assessed 2023
Previous assessed
$3,997,000
+0.0% YoY
Effective rate
1.89%
On assessed value
Assessed land
$2,554,860
Assessed improvement
$1,442,140
Applied tax rate
127.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1927
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
4
Total area
12,044 SF
Lot
0.16 ac (6,970 SF)
Zoning code
RETA
APN
NCAN M:000T B:074 L:00918
UPID
US15-0284026
Jurisdiction
NEW CANAAN
Zoning & alternative use
RETA · New Canaan, CTZoning RETA · permitted uses
RETA · New Canaan, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
2004 Revision
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
FINANCIAL BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1927
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
4
Lot
0.16 ac
Current owner
From public records · entity-resolved
Lecher INC
Entity
Mailing address
PO BOX 35605, DALLAS, TX 75235-0605
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 16, 2002
$1,050,000
Lecher INC
Gilligan Nt
Warranty Deed
$974,000 · Ridgefield 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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