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Property profile & analytics
FOR LEASE
Investment properties
128 State St, New London, CT 06320
Individually Owned
13-yr Hold
~
Est. High Equity
Property ID
US15-0671850
For Lease
1 / 2
$2,500/Mo
128 State St, New London, CT 06320
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Lot
0.29 ac (12,579 SF)
APN
NLON M:G12 B:0142 L:0002
UPID
US15-0671850
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
-
ZAMBALA GROCERY STORE Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Cornish Contracting · 13 yrs held
Cornish Contracting
since 2012
7 recorded transactions
Zoning & alternative use
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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$34,874
Tax year 2023
Assessed value
$907,480
Assessed 2023
Previous assessed
$963,250
-5.8% YoY
Effective rate
3.84%
On assessed value
Assessed land
$122,920
Assessed improvement
$784,560
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Heating
NONE
Cooling
YES
Buildings
2
Units
21
Lot
0.29 ac (12,579 SF)
APN
NLON M:G12 B:0142 L:0002
UPID
US15-0671850
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
Building & site characteristics
From public records
Heating
NONE
Cooling
Yes
Buildings
2
Units
21
Lot
0.29 ac
Current owner
From public records · entity-resolved
Cornish Contracting
Individual
Mailing address
44 MOTT AVE, NEW LONDON, CT 06320-2811
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 4, 2012
$1,400,000
Cornish Contracting
Bacon Building LLC
Grant Deed
—
Sep 30, 2010
—
Bacon Building LLC
—
Deed Of Trust
related
$250,000 · Peoples Bank
May 12, 2003
—
Bacon Building LLC
—
Deed Of Trust
related
$50,000 · New London City
Sep 10, 1991
—
Dev Mckinley
—
Deed Of Trust
related
$350,000 · Founders Bank
Sep 4, 1990
—
James A Noonan
—
Deed Of Trust
related
$40,000 · Ct Natl Bk
Oct 16, 1989
—
Devel Mckinley
—
Deed Of Trust
related
$250,000 · First Federal Bank Of Ct
Apr 6, 1989
—
Dev Mckinley
—
Deed Of Trust
related
$565,000 · New Haven Savings Bank
Nov 17, 1987
—
James A Noonan
—
Deed Of Trust
related
$200,000 · 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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