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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Retail space
16 Chipman Dr Cheshire, CT 06410-3101
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US15-0317121
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2000
Construction
FRAME
Total area
3,623 SF
Lot
0.66 ac (28,750 SF)
Zoning code
R-20A
APN
CHES M:64 B:284 L:
UPID
US15-0317121
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
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$559k
Blend (final)
Blend
$595k
Owner & transaction history
16 Chipman Drive LLC · 2 yrs held
16 Chipman Drive LLC
since 2023
Last sale
$600,000
4 recorded transactions
Zoning & alternative use
R-20A · Cheshire, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$410,000
+3.9%
Office building
$400,000
+2.4%
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 Cheshire submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cheshire 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
$595,000
ML approach
$595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$395,000
Current use
COMMERCIAL (GENERAL)
$410,000
Change: +4% · Conversion: Easy
OFFICE BUILDING
$400,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$595k
Range $536k – $655k · ±10% · vs last sale $600k (Nov 6 2023)
Last sale anchor
$600k
Nov 6 2023
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
$164 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$12,379
Tax year 2024
Assessed value
$450,800
Assessed 2024
Previous assessed
$450,800
+0.0% YoY
Effective rate
2.75%
On assessed value
Assessed land
$139,230
Assessed improvement
$311,570
Applied tax rate
322.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2000
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
2
Total area
3,623 SF
Lot
0.66 ac (28,750 SF)
Zoning code
R-20A
APN
CHES M:64 B:284 L:
UPID
US15-0317121
Jurisdiction
CHESHIRE
Zoning & alternative use
R-20A · Cheshire, CT
Zoning R-20A · permitted uses
R-20A · Cheshire, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cheshire. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$395,000
COMMERCIAL (GENERAL)
Est. value
$410,000
OFFICE BUILDING
Est. value
$400,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2000
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
2
Lot
0.66 ac
Current owner
From public records · entity-resolved
16 Chipman Drive LLC
Entity
Mailing address
16 CHIPMAN DR, CHESHIRE, CT 06410-3101
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 6, 2023
$600,000
16 Chipman Drive LLC
Edgecomb Re Holdings LLC
Warranty Deed
$442,000 · Edgecomb Re Hldg LLC
Jun 14, 2022
$825,000
Edgecomb Re Holdings LLC
Melillo Re Hldg Co LLC
Warranty Deed
—
Nov 5, 1998
$182,500
Melillo Re Hldg Co
Mcatavey,charles F
Warranty Deed
$92,000 · American Bank Of Conneticut
Apr 11, 1993
—
Nahid Malik
—
Deed Of Trust
related
$439,000 · Bank Of Boston Ct
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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