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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Specialty properties
16th Ledge Rd Cromwell, CT 06416-1006
Individually Owned
16-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US15-0421368
Property profile
Verified
Property type
Specialty properties
Use group
CHARITABLE ORGANIZATION
Year built
2003
Total area
2,635 SF
Lot
1.04 ac (45,302 SF)
Zoning code
R-40
APN
CROM M:00578000
UPID
US15-0421368
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$392k
Blend (final)
Blend
$590k
Owner & transaction history
Mark Peluso · 16 yrs held
Mark Peluso
since 2010
Last sale
$812,374
4 recorded transactions
Zoning & alternative use
R-40 · Cromwell, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$565,000
+122.7%
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 Cromwell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cromwell 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
OFFICE BUILDING
$565,000
Change: +123% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±10% · vs last sale $812k (Feb 16 2025)
Last sale anchor
$812k
Feb 16 2025
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
$224 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$10,179
Tax year 2022
Assessed value
$418,180
Assessed 2023
Previous assessed
$418,180
+0.0% YoY
Effective rate
2.43%
On assessed value
Assessed land
$100,590
Assessed improvement
$317,590
Applied tax rate
256.0000
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
Specialty properties
Use group
CHARITABLE ORGANIZATION
Status
Off-Market
Year built
2003
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Rooms
7
Bathrooms
2
Total area
2,635 SF
Lot
1.04 ac (45,302 SF)
Zoning code
R-40
APN
CROM M:00578000
UPID
US15-0421368
Jurisdiction
CROMWELL
Zoning & alternative use
R-40 · Cromwell, CT
Zoning R-40 · permitted uses
R-40 · Cromwell, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cromwell. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$565,000
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
2003
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Rooms
7
Bathrooms
2
Lot
1.04 ac
Current owner
From public records · entity-resolved
Mark Peluso
Individual
Mailing address
157 CHARTER OAK AVE, HARTFORD, CT 06106-2040
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2010
—
Mark Peluso
—
Deed Of Trust
related
$166,148 · Wells Fargo Mortgage
Apr 25, 2007
—
Mark Peluso
—
Deed Of Trust
related
$172,000 · Provident Funding Group INC
Aug 15, 2005
—
Mark Peluso
—
Deed Of Trust
related
$137,500 · Webster Bank
Nov 22, 2002
—
Mark Peluso
—
Deed Of Trust
related
$120,000 · Webster 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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