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Property profile & analytics
OFF-MARKET
Estimated value
$5,695,000
Showrooms
194 Howard St New London, CT 06320-5544
Individually Owned
14-yr Hold
Absentee Owner
Free & Clear
Property ID
US15-0611864
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1985
Construction
STEEL FRAME
Total area
48,330 SF
Lot
2.02 ac (87,991 SF)
APN
NLON M:F15 B:0107 L:0034
UPID
US15-0611864
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
-
Dr. Samuel Dengler Physician
-
Dr. Joseph Peters Medical Clinic
-
Ylec Cardenas Castillo Physician
-
Bilal Hameed Physician Medical Clinic
-
Rita Gonzalez Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.58M
Blend (final)
Blend
$5.70M
Owner & transaction history
Lawrence Hosp · 14 yrs held
Lawrence Hosp
since 2012
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$6.6M
+76.3%
Retail stores
$5.4M
+43.2%
Apartment house (5+ units)
$4.4M
+16.8%
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 London submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New London 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
COMMERCIAL (GENERAL)
$3,760,000
Current use
OFFICE BUILDING
$6,630,000
Change: +76% · Conversion: Easy
RETAIL STORES
$5,385,000
Change: +43% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$4,390,000
Change: +17% · Conversion: Moderate
Blend value · Realmo final
$5.70M
Range $5.13M – $6.26M · ±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
$118 / 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
$186,079
Tax year 2024
Assessed value
$6,529,100
Assessed 2024
Previous assessed
$6,529,100
+0.0% YoY
Effective rate
2.85%
On assessed value
Assessed land
$699,900
Assessed improvement
$5,829,200
Applied tax rate
384.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1985
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Units
1
Total area
48,330 SF
Lot
2.02 ac (87,991 SF)
APN
NLON M:F15 B:0107 L:0034
UPID
US15-0611864
Jurisdiction
NEW LONDON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.8M
OFFICE BUILDING
Est. value
$6.6M
RETAIL STORES
Est. value
$5.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.4M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
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
1985
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Units
1
Lot
2.02 ac
Current owner
From public records · entity-resolved
Lawrence Hosp
Individual
Free & Clear · 14 yrs held
Mailing address
365 MONTAUK AVE, NEW LONDON, CT 06320-4700
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 7, 2012
$2,500,000
Lawrence Hosp
Amber Howard LLC
Warranty Deed
—
Mar 16, 1999
—
Amber Howard Assoc
—
Deed Of Trust
related
$3,150,000 · Legg Mason Dornian
Aug 3, 1998
—
Amber Howard Assoc
—
Deed Of Trust
related
$2,000,000 · National Rlty Funding
Dec 23, 1987
$4,900,000
Howard Shoreline Assoc
194 Howard St Assoc
Grant Deed
related
$3,800,000 · Connecticut Bank & Trust
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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