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Property profile & analytics
OFF-MARKET
Estimated value
$1,810,000
Manufacturing properties
131 New Park Dr, Berlin, CT 06037-3740
Entity Owned
15-yr Hold
Free & Clear
Property ID
US15-0451852
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
50,867 SF
Lot
5.94 ac (258,746 SF)
Zoning code
PI
APN
BERL M:22-3 B:153 L:7F
UPID
US15-0451852
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
-
Budney Overhaul & Repair Ltd Industrial Manufacturer
-
Budney Corporate Office Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.74M
Blend (final)
Blend
$1.81M
Owner & transaction history
131 New Park Drive LLC · 15 yrs held
131 New Park Drive LLC
since 2010
7 recorded transactions
Zoning & alternative use
PI · 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
WAREHOUSE, STORAGE
$2,840,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$1.81M
Range $1.63M – $1.99M · ±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
$36 / 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
$60,217
Tax year 2023
Assessed value
$2,037,100
Assessed 2023
Previous assessed
$2,037,100
+0.0% YoY
Effective rate
2.96%
On assessed value
Assessed land
$263,300
Assessed improvement
$1,773,800
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
50,867 SF
Lot
5.94 ac (258,746 SF)
Zoning code
PI
APN
BERL M:22-3 B:153 L:7F
UPID
US15-0451852
Jurisdiction
BERLIN
Zoning & alternative use
PI · Berlin, CT
Zoning PI · permitted uses
PI · 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
WAREHOUSE, STORAGE
Est. value
$2.8M
WAREHOUSE, STORAGE
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
5.94 ac
Current owner
From public records · entity-resolved
131 New Park Drive LLC
Entity
Free & Clear · 15 yrs held
Mailing address
131 NEW PARK DR, BERLIN, CT 06037-3740
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 12, 2023
—
131 New Park Drive LLC
—
Deed
related
$2,000,000 · Thomaston Savings Bank
Jun 5, 2012
—
131 New Park Drive LLC
—
Deed Of Trust
related
$2,000,000 · Sovereign Bank
Sep 29, 2011
—
131 New Park Drive LLC
—
Deed Of Trust
related
$5,200,000 · Sovereign Bank
Nov 30, 2010
$1
131 New Park Drive LLC
Budney Overhaul & Repair
Grant Deed
related
—
Nov 30, 2010
—
131 New Park Drive LLC
—
Deed Of Trust
related
$1,089,055 · Sovereign Bank
Aug 16, 2007
—
Budney Overhaul&rpair Ltd
—
Deed Of Trust
related
$325,000 · Sovereign Bank
Sep 19, 2005
—
Budney Overhaul&rep Ltd
—
Deed Of Trust
related
$450,000 · Sovereign Bank
Jun 5, 1997
$1,050,000
Overhaul Budney
Budney Company INC
Deed Of Trust
related
$435,000 · Zuckerman Family Nomi
Apr 29, 1987
—
Budney Co
—
Deed Of Trust
related
$1,350,000 · Ct Natl Bk
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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