Individually Owned Property summary
AI-generated overview
This exceptional Class A industrial property, located at 190 New Park Drive in Berlin, Connecticut, offers 29,504 square feet of versatile distribution, flex, and warehouse space. Built in 1976 and extensively renovated in 2014, this fee-simple owned building sits on a 4.3-acre lot and is zoned PI. The single-story structure boasts a minimum ceiling height of 25 feet, reaching up to 36 feet in certain areas, and includes one dock-high door and three drive-in doors. The property benefits from a full sprinkler system and is conveniently located near I-91 and the Berlin Turnpike, ensuring easy access to major transportation routes. The current owner will vacate upon sale, and existing equipment and assets are available for separate purchase. Expansion possibilities exist, making this a highly attractive investment opportunity for owner-users seeking premium industrial space in a prime Connecticut location. The property's 29,504 square feet of net rentable space provides ample room for various business operations.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1976
Construction
STEEL FRAME
Total area
24,707 SF
Lot
4.3 ac (187,308 SF)
Zoning code
PI
APN
BERL M:22-3 B:153 L:11D
UPID
US15-0127678
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Factory Production Facility
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$813k
Blend (final)
Blend
$500k
Owner & transaction history
since 2025
7 recorded transactions
Zoning & alternative use
PI · Berlin, CT
General category
UNKNOWN
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 4 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$500k
Value range
$450k – $550k
±10% around blend
Estimated value / SF
$20 / SF
Confidence
Low
4 county-verified comps
Property data
100
Market benchmarks
33
Comparable evidence
40
$450k
blend $500k
$550k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
24,707 SF
Lot area
4.3 ac
Year built
1976
Stories
1
APN
BERL M:22-3 B:153 L:11D
Zoning
PI
Assessed value
$950,300
Annual tax
$28,091
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$2.09M
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
18.3 mi away · 19,918 SF
20.7 mi away · 29,567 SF
21.4 mi away · 19,052 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$500k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 342 sales
$69
-71%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $20/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$950k
Move the market yield to see immediate price impact.
Value / SF
$38
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$60k
$1.20M
$855k
$665k
$67k
$1.33M
$950k
$739k
$73k
$1.46M
$1.05M
$813k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$1.70M
16.6 mi · Feb 2026 · $77/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$28,091
Tax year 2023
Assessed value
$950,300
Assessed 2023
Previous assessed
$950,300
+0.0% YoY
Effective rate
2.96%
On assessed value
Assessed land
$196,400
Assessed improvement
$753,900
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1976
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Units
1
Total area
24,707 SF
Lot
4.3 ac (187,308 SF)
Zoning code
PI
APN
BERL M:22-3 B:153 L:11D
UPID
US15-0127678
Jurisdiction
BERLIN
Zoning & alternative use
PI · Berlin, CTZoning PI · permitted uses
PI · Berlin, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
General category
UNKNOWN
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1976
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Units
1
Lot
4.3 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
PI
UNKNOWN
Jurisdiction
Berlin, CT
Recorded code
PI
Official district
PI
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for PI in Berlin, CT.
What opens after registration
Zoning profile
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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