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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Office Spaces
189 Elm St New Canaan, CT 06840-5310
Entity Owned
3-yr Hold
Free & Clear
Property ID
US15-0962257
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1881
Construction
FRAME
Total area
2,444 SF
Lot
0.16 ac (6,970 SF)
Zoning code
BUSA
APN
NCAN M:000L B:018 L:851 U:189
UPID
US15-0962257
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
-
Kerry Hanson Design Interior Design Home Decor Store
-
Culinary Works Vocational School Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$615k
Blend (final)
Blend
$595k
Owner & transaction history
189 Full Circle LLC · 3 yrs held
189 Full Circle LLC
since 2022
3 recorded transactions
Zoning & alternative use
BUSA · New Canaan, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$570,000
+33.9%
Commercial (general)
$570,000
+33.5%
Retail stores
$455,000
+6.5%
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 New Canaan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Canaan 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
$425,000
Current use
AUTO REPAIR, GARAGE
$570,000
Change: +34% · Conversion: Difficult
COMMERCIAL (GENERAL)
$570,000
Change: +34% · Conversion: Easy
RETAIL STORES
$455,000
Change: +7% · Conversion: Moderate
Blend value · Realmo final
$595k
Range $536k – $655k · ±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
$243 / 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
$24,012
Tax year 2023
Assessed value
$1,267,770
Assessed 2023
Previous assessed
$1,267,770
+0.0% YoY
Effective rate
1.89%
On assessed value
Assessed improvement
$1,267,770
Applied tax rate
127.0000
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1881
Construction
FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
2
Total area
2,444 SF
Lot
0.16 ac (6,970 SF)
Zoning code
BUSA
APN
NCAN M:000L B:018 L:851 U:189
UPID
US15-0962257
Jurisdiction
NEW CANAAN
Zoning & alternative use
BUSA · New Canaan, CT
Zoning BUSA · permitted uses
BUSA · New Canaan, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Canaan. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$425,000
AUTO REPAIR, GARAGE
Est. value
$570,000
COMMERCIAL (GENERAL)
Est. value
$570,000
RETAIL STORES
Est. value
$455,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
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
1881
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
2
Lot
0.16 ac
Current owner
From public records · entity-resolved
189 Full Circle LLC
Entity
Free & Clear · 3 yrs held
Mailing address
189 ELM ST, NEW CANAAN, CT 06840-5310
Ownership since
2022
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
Sep 23, 2022
—
189 Full Circle LLC
41 Degree Venture LLC
Warranty Deed
—
Oct 19, 2007
$2,375,000
41 Degree Venture LLC
Elm Street Investors LLC
Warranty Deed
$1,650,000 · The Bank Of New Cannon
Mar 14, 2007
$2,100,000
Elm Street Investors
Bucciarelli,joseph L
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.
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