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Property profile & analytics
OFF-MARKET
Estimated value
$1,630,000
Investment properties
15 Water St Mystic, CT 06355-3504
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US15-1021743
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1859
Total area
6,272 SF
Lot
0.14 ac (6,098 SF)
Zoning code
MDD
APN
GROT M:261918306108
UPID
US15-1021743
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
-
Port of call Bar & Pub
-
The Port of call Restaurant
-
Dive bar Bar & Pub
-
Public Parking Lot Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.54M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.63M
Owner & transaction history
Drawbridge LLC · 5 yrs held
Drawbridge LLC
since 2021
Last sale
$1.7M
7 recorded transactions
Zoning & alternative use
MDD · Mystic, 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 Mystic submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mystic 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
$1,600,000
ML approach
$1,540,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.63M
Range $1.47M – $1.79M · ±10% · vs last sale $1.69M (Jul 9 2021)
Last sale anchor
$1.69M
Jul 9 2021
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
$260 / 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
$27,805
Tax year 2023
Assessed value
$1,143,940
Assessed 2023
Previous assessed
$1,143,940
+0.0% YoY
Effective rate
2.43%
On assessed value
Assessed land
$184,800
Assessed improvement
$959,140
Applied tax rate
355.0000
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
Off-Market
Year built
1859
Heating
FORCED AIR
Buildings
1
Stories
2
Units
3
Bathrooms
3
Total area
6,272 SF
Lot
0.14 ac (6,098 SF)
Zoning code
MDD
APN
GROT M:261918306108
UPID
US15-1021743
Jurisdiction
GROTON
Zoning & alternative use
MDD · Mystic, CT
Zoning MDD · permitted uses
MDD · Mystic, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mystic. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1859
Heating
FORCED AIR
Stories
2
Buildings
1
Units
3
Bathrooms
3
Lot
0.14 ac
Current owner
From public records · entity-resolved
Drawbridge LLC
Entity
Mailing address
35 PEARL ST, MYSTIC, CT 06355-1831
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 9, 2021
$1,687,500
Drawbridge LLC
Mystic Art Assn INC
Warranty Deed
$1,000,000 · Chelsea Groton Bank
Oct 1, 2013
$510,000
Mystic Art Assn INC
Robert Bankel
Warranty Deed
—
Oct 1, 2013
—
Mystic Art Assn INC
Bankel,robert
Warranty Deed
—
Mar 8, 2006
$525,000
Thomas J Smith
Matter,richard A
Warranty Deed
$417,000 · Cco Mortgage Corp
Oct 19, 2005
$485,000
Andrea Yurcak
Thompson,stuart
Warranty Deed
$85,000 · Webster Bank
Mar 2, 2005
—
Robert Bankel
—
Deed Of Trust
related
$400,000 · Washington Trust Co
Jul 31, 2003
—
Stuart Thomas
—
Deed Of Trust
related
$188,702 · Wells Fargo Mortgage
Jan 11, 1994
$155,000
Francis J Smith
Suman,susan
Warranty Deed
$139,500 · Zenon Grzybowski
Aug 17, 1993
—
Robert Bankel
—
Deed Of Trust
related
$105,000 · Washington Trust Co
Jan 21, 1993
—
Robert Zaehringer
—
Deed Of Trust
related
$184,000 · Cargill Bank Of Ct
Sep 18, 1989
—
Robert Bankel
—
Deed Of Trust
related
$80,000 · Washington Trust Co
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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