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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Office buildings
194 Ss Ave New Canaan, CT 06840-5756
Entity Owned
8-yr Hold
Free & Clear
Property ID
US15-0578886
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1925
Construction
FRAME
Total area
2,717 SF
Lot
0.28 ac (12,197 SF)
Zoning code
BRES
APN
NCAN M:000N B:062 L:00925
UPID
US15-0578886
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
-
Soundview Medical Medical Clinic
-
Papaharis Basil J MD Physician
-
Lautenbach Denise K MD Physician
-
New England Healthcare Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$395k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$526k
Blend (final)
Blend
$510k
Owner & transaction history
Ct Coastal Properties LLC · 8 yrs held
Ct Coastal Properties LLC
since 2017
2 recorded transactions
Zoning & alternative use
BRES · New Canaan, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$635,000
+33.9%
Commercial (general)
$635,000
+33.5%
Retail stores
$505,000
+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
$395,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$475,000
Current use
AUTO REPAIR, GARAGE
$635,000
Change: +34% · Conversion: Difficult
COMMERCIAL (GENERAL)
$635,000
Change: +34% · Conversion: Easy
RETAIL STORES
$505,000
Change: +7% · Conversion: Moderate
Blend value · Realmo final
$510k
Range $459k – $561k · ±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
$188 / 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
$20,510
Tax year 2023
Assessed value
$1,082,900
Assessed 2023
Previous assessed
$1,082,900
+0.0% YoY
Effective rate
1.89%
On assessed value
Assessed land
$658,630
Assessed improvement
$424,270
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1925
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
2
Rooms
10
Bathrooms
2
Total area
2,717 SF
Lot
0.28 ac (12,197 SF)
Zoning code
BRES
APN
NCAN M:000N B:062 L:00925
UPID
US15-0578886
Jurisdiction
NEW CANAAN
Zoning & alternative use
BRES · New Canaan, CT
Zoning BRES · permitted uses
BRES · 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
$475,000
AUTO REPAIR, GARAGE
Est. value
$635,000
COMMERCIAL (GENERAL)
Est. value
$635,000
RETAIL STORES
Est. value
$505,000
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
1925
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
2
Rooms
10
Bathrooms
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
Ct Coastal Properties LLC
Entity
Free & Clear · 8 yrs held
Mailing address
198 MIDDLE RDG RD, NEW CANAAN, CT 06840-5046
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 7, 2017
$1,175,000
Ct Coastal Properties LLC
Norwalk Hospital Assoc
Warranty Deed
—
Feb 27, 2008
$1,500,000
Norwalk Hospital Assn
Crown,charles A
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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