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Property profile & analytics
OFF-MARKET
Estimated value
$3,480,000
Parking lots & garages
172 Kelsey St, Newington, CT 06111-5453
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US15-1042598
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1986
Construction
STEEL FRAME
Total area
21,440 SF
Lot
2.21 ac (96,268 SF)
Zoning code
PD
APN
NEWI M:30 B:101 L:0
UPID
US15-1042598
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
-
Bryon's Auto Body LLC Auto Repair Shop
-
Connecticut Auto Body Shop Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.48M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.37M
Blend (final)
Blend
$3.48M
Owner & transaction history
Cadet 23 LLC · 1 yrs held
Cadet 23 LLC
since 2024
Last sale
$3.5M
7 recorded transactions
Zoning & alternative use
PD · Newington, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.9M
+59.3%
Office building
$2.7M
+47.7%
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 Newington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newington 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
$3,480,000
ML approach
$3,480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,865,000
Change: +59% · Conversion: Difficult
OFFICE BUILDING
$2,655,000
Change: +48% · Conversion: Difficult
Blend value · Realmo final
$3.48M
Range $3.13M – $3.83M · ±10% · vs last sale $3.48M (Oct 2 2024)
Last sale anchor
$3.48M
Oct 2 2024
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
$162 / 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
$35,633
Tax year 2024
Assessed value
$898,230
Assessed 2024
Previous assessed
$898,230
+0.0% YoY
Effective rate
3.97%
On assessed value
Assessed land
$78,480
Assessed improvement
$819,750
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1986
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
1
Total area
21,440 SF
Lot
2.21 ac (96,268 SF)
Zoning code
PD
APN
NEWI M:30 B:101 L:0
UPID
US15-1042598
Jurisdiction
NEWINGTON
Zoning & alternative use
PD · Newington, CT
Zoning PD · permitted uses
PD · Newington, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.7M
RESTAURANT
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
1986
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
1
Lot
2.21 ac
Current owner
From public records · entity-resolved
Cadet 23 LLC
Entity
Mailing address
902 CARNEGIE CTR, PRINCETON, NJ 08540-6530
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 2, 2024
$3,480,000
Cadet 23 LLC
Churchill Realco Hldg LLC
Warranty Deed
—
Oct 2, 2024
$3,500,000
Churchill Realco Hldg LLC
Lnl Realty LLC
Warranty Deed
—
Dec 31, 2018
$1,125,000
Lnl Realty LLC
Souto Properties Of Ct
Warranty Deed
$562,500 · Harvest Commercial
Feb 21, 2013
—
Souto Props Ct LLC
—
Deed Of Trust
related
$1,032,619 · Wells Fargo Mortgage
Aug 3, 2006
$1,450,000
Souto Prop Of Conn LLC
Randm Realty LLC
Warranty Deed
$1,160,000 · Regions Bank
Jul 30, 2004
—
Randm Realty LLC
—
Deed Of Trust
related
$1,710,000 · Banknorth NA
May 22, 2002
—
Romuald Pryputniewicz
—
Deed Of Trust
related
$954,000 · First City Bank
Jan 27, 1998
—
Romuald Pryputniewicz
—
Deed Of Trust
related
$1,375,000 · Mechanics Savings Bank
Feb 14, 1996
—
Romuald Pryputniewicz
—
Deed Of Trust
related
$330,000 · Mechanics Savings Bank
Dec 1, 1992
—
Ronald A Pryputinewicz
—
Deed Of Trust
related
$825,000 · Mechanics Savings Bank
Nov 6, 1987
—
Romuald Pryputniewicz
—
Deed Of Trust
related
$200,000 · Ct Natl Bk
Feb 27, 1987
—
Romauld Pryputniewicz
—
Deed Of Trust
related
$700,000 · Shawmut Home 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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