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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Investment properties
2 Main St Mystic, CT 06355-2510
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US15-0825163
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1907
Total area
5,709 SF
Lot
0.07 ac (3,049 SF)
Zoning code
MDD
APN
GROT M:261918403999
UPID
US15-0825163
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
-
Mystic Drawbridge Ice Cream Grocery & Convenience Store Specialty Food Shop
-
Coastal Public Access Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$605k
Blend (final)
Blend
$605k
Owner & transaction history
Jerome Prop 2-6 LLC · 20 yrs held
Jerome Prop 2-6 LLC
since 2005
7 recorded transactions
Zoning & alternative use
MDD · Mystic, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$785,000
+66.1%
Retail stores
$635,000
+34.9%
Apartment house (5+ units)
$485,000
+2.6%
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 Mystic submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mystic 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)
$470,000
Current use
OFFICE BUILDING
$785,000
Change: +66% · Conversion: Easy
RETAIL STORES
$635,000
Change: +35% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$485,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$605k
Range $545k – $666k · ±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
$106 / 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
$21,632
Tax year 2023
Assessed value
$889,980
Assessed 2023
Previous assessed
$889,980
+0.0% YoY
Effective rate
2.43%
On assessed value
Assessed land
$359,100
Assessed improvement
$530,880
Applied tax rate
355.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1907
Heating
ELECTRIC
Buildings
1
Stories
2
Units
4
Bathrooms
2
Total area
5,709 SF
Lot
0.07 ac (3,049 SF)
Zoning code
MDD
APN
GROT M:261918403999
UPID
US15-0825163
Jurisdiction
GROTON
Zoning & alternative use
MDD · Mystic, CT
Zoning MDD · permitted uses
MDD · Mystic, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mystic. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$470,000
OFFICE BUILDING
Est. value
$785,000
RETAIL STORES
Est. value
$635,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$485,000
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
1907
Heating
ELECTRIC
Stories
2
Buildings
1
Units
4
Bathrooms
2
Lot
0.07 ac
Current owner
From public records · entity-resolved
Jerome Prop 2-6 LLC
Entity
Mailing address
PO BOX 188, WEST MYSTIC, CT 06388-0188
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 9, 2021
—
Jerome Properties 2-6 LLC
—
Deed
related
$7,350,000 · Berkshire Bank
Oct 31, 2019
—
Jerome Properties 2-6 LLC
—
Deed
related
$3,600,000 · Peoples United Bank
Jun 1, 2011
—
Jerome Props 2-6 LLC
—
Deed Of Trust
related
$1,170,000 · Farmington Savings Bank
Oct 5, 2005
$1,000,000
Jerome Prop 2-6 LLC
Chancery Assoc LLC
Warranty Deed
$750,000 · Astoria Federal Mortgage Corp
Mar 1, 2000
$365,000
26 Upton Street LLC
Pacific American Corp
Grant Deed
—
Dec 30, 1999
$730,000
Chancery Assoc LLC
Grove Coastal Assoc LP
Warranty Deed
$547,500 · Thomas M Sykes
Aug 12, 1996
—
Grove Coastal Assoc LP
—
Deed Of Trust
related
$485,000 · Ri Hosp Trust National Bank
Nov 22, 1989
$535,000
Bridge Bldg Ltd
Lazarek,john
Grant Deed
—
Feb 4, 1988
$250,000
John Lazarek
Carter,john
Grant Deed
$100,000 · Ne Federal Savings Bank
Aug 28, 1987
$269,000
John Lazarek
Cushman,robert
Grant Deed
$432,000 · Chelseagroton Savings Bank
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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