New search
Property profile & analytics
FOR SALE
Medical Office Space
181 Patricia M Genova Dr, Newington, CT 06111
Entity Owned
7-yr Hold
Free & Clear
Property ID
US15-0335368
For Sale
$31,505,000
181 Patricia M Genova Dr, Newington, CT 06111
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
261,072 SF
Lot
44.47 ac (1,937,113 SF)
Zoning code
PL
APN
NEWI M:11 B:337 L:0
UPID
US15-0335368
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
-
Hartford HealthCare Medical Clinic
-
Hartford HealthCare Rehabilitation Network Rehabilitation Center Occupational Therapist
-
Michelle Hay Physician
-
Hartford Healthcare System Support Office Corporate Office
-
Hartford Hospital-Newington Corporate Office Business Park
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$28.19M
Blend (final)
Blend
$31.51M
Owner & transaction history
Hartford Healthcare Corp · 7 yrs held
Hartford Healthcare Corp
since 2019
1 recorded transaction
Zoning & alternative use
PL · Newington, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$34.9M
+87.5%
Office building
$32.3M
+73.7%
Commercial (general)
$22.5M
+20.7%
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
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
RESTAURANT
$34,895,000
Change: +87% · Conversion: Difficult
OFFICE BUILDING
$32,335,000
Change: +74% · Conversion: Easy
COMMERCIAL (GENERAL)
$22,460,000
Change: +21% · Conversion: Easy
AUTO REPAIR, GARAGE
$20,465,000
Change: +10% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$19,535,000
Change: +5% · Conversion: Moderate
Blend value · Realmo final
$31.51M
Range $28.35M – $34.66M · ±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
$121 / 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
$2,115,463
Tax year 2023
Assessed value
$55,147,620
Assessed 2023
Previous assessed
$55,147,620
+0.0% YoY
Effective rate
3.84%
On assessed value
Assessed land
$4,862,810
Assessed improvement
$50,284,810
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Sale
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
4
Units
1
Total area
261,072 SF
Lot
44.47 ac (1,937,113 SF)
Zoning code
PL
APN
NEWI M:11 B:337 L:0
UPID
US15-0335368
Jurisdiction
NEWINGTON
Zoning & alternative use
PL · Newington, CT
Zoning PL · permitted uses
PL · 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
$34.9M
OFFICE BUILDING
Est. value
$32.3M
COMMERCIAL (GENERAL)
Est. value
$22.5M
AUTO REPAIR, GARAGE
Est. value
$20.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$19.5M
RESTAURANT
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
4
Buildings
1
Units
1
Lot
44.47 ac
Current owner
From public records · entity-resolved
Hartford Healthcare Corp
Entity
Free & Clear · 7 yrs held
Mailing address
181 PATRICIA M GENOVA DR, NEWINGTON, CT 06111-1500
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2019
—
Hartford Healthcare Corp
Hartford Hosp
Warranty Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
