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Property profile & analytics
OFF-MARKET
Estimated value
$745,000
Parking lots & garages
1816 Berlin Tpke, Wethersfield, CT 06109-1324
Entity Owned
17-yr Hold
Free & Clear
Property ID
US15-0068229
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,135 SF
Lot
0.78 ac (33,977 SF)
Zoning code
RC
APN
WETH M:032 B:008
UPID
US15-0068229
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
-
Mirabelli Automotive Auto Repair Shop
-
PJM III LLC Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$745k
Owner & transaction history
Peters Real LLC · 17 yrs held
Peters Real LLC
since 2008
3 recorded transactions
Zoning & alternative use
RC · Wethersfield, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$930,000
+36.5%
Commercial (general)
$870,000
+27.6%
Retail stores
$785,000
+15.0%
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 Wethersfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wethersfield 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
PARKING LOT
$680,000
Current use
RESTAURANT
$930,000
Change: +37% · Conversion: Difficult
COMMERCIAL (GENERAL)
$870,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$785,000
Change: +15% · Conversion: Difficult
AUTO REPAIR, GARAGE
$640,000
Change: -7% · Conversion: Difficult
OFFICE BUILDING
$630,000
Change: -7% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$610,000
Change: -11% · Conversion: Difficult
MEDICAL BUILDING
$580,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$745k
Range $671k – $820k · ±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
$92 / 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
$18,082
Tax year 2023
Assessed value
$432,780
Assessed 2023
Previous assessed
$432,780
+0.0% YoY
Effective rate
4.18%
On assessed value
Assessed land
$132,930
Assessed improvement
$299,850
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
2
Total area
8,135 SF
Lot
0.78 ac (33,977 SF)
Zoning code
RC
APN
WETH M:032 B:008
UPID
US15-0068229
Jurisdiction
WETHERSFIELD
Zoning & alternative use
RC · Wethersfield, CT
Zoning RC · permitted uses
RC · Wethersfield, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wethersfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$680,000
RESTAURANT
Est. value
$930,000
COMMERCIAL (GENERAL)
Est. value
$870,000
RETAIL STORES
Est. value
$785,000
AUTO REPAIR, GARAGE
Est. value
$640,000
OFFICE BUILDING
Est. value
$630,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$610,000
MEDICAL BUILDING
Est. value
$580,000
PARKING LOT Current
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
MEDICAL 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
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
2
Lot
0.78 ac
Current owner
From public records · entity-resolved
Peters Real LLC
Entity
Free & Clear · 17 yrs held
Mailing address
182 DAY ST, NEWINGTON, CT 06111-1208
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 3, 2008
$875,000
Peters Real LLC
Monro Muffler Brake INC
Warranty Deed
—
Dec 3, 2008
$1
Peters Real LLC
Monro Muffler Brake INC
Grant Deed
related
—
Aug 3, 1987
—
Muffler Brake Morris
—
Deed Of Trust
related
$461,250 · Central 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.
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?”
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