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Property profile & analytics
OFF-MARKET
Estimated value
$1,895,000
Industrial properties
20 Tuttle Pl Middletown, CT 06457-1870
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US15-0405147
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
26,619 SF
Lot
2.04 ac (88,862 SF)
Zoning code
I-2
APN
MTWN M:09 L:0570
UPID
US15-0405147
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
-
Wheeler Clinic - Extended Day Program High School
-
Amy Reiniger Foster Care Service Social Service Agency
-
Muscle X Edge, LLP Department Store
-
Surgi Care Inc Orthotics & Prosthetics Service
-
MKG, LLC Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.56M
Blend (final)
Blend
$1.90M
Owner & transaction history
20 Tuttle Place LLC · 3 yrs held
20 Tuttle Place LLC
since 2023
Last sale
$1.8M
2 recorded transactions
Zoning & alternative use
I-2 · Middletown, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.9M
+32.6%
Apartment house (5+ units)
$2.8M
+27.4%
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 Middletown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middletown 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
$1,990,000
ML approach
$1,995,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,215,000
Current use
COMMERCIAL (GENERAL)
$2,940,000
Change: +33% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,825,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$1.90M
Range $1.71M – $2.08M · ±10% · vs last sale $1.80M (Mar 3 2023)
Last sale anchor
$1.80M
Mar 3 2023
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
$71 / 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
$44,285
Tax year 2023
Assessed value
$1,261,690
Assessed 2023
Previous assessed
$1,261,690
+0.0% YoY
Effective rate
3.51%
On assessed value
Assessed land
$322,350
Assessed improvement
$939,340
Applied tax rate
250.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
6
Total area
26,619 SF
Lot
2.04 ac (88,862 SF)
Zoning code
I-2
APN
MTWN M:09 L:0570
UPID
US15-0405147
Jurisdiction
MIDDLETOWN
Zoning & alternative use
I-2 · Middletown, CT
Zoning I-2 · permitted uses
I-2 · Middletown, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Middletown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.8M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
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
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
6
Lot
2.04 ac
Current owner
From public records · entity-resolved
20 Tuttle Place LLC
Entity
Mailing address
20 TUTTLE PL, MIDDLETOWN, CT 06457-1870
Ownership since
2023
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
Mar 3, 2023
$1,800,000
20 Tuttle Place LLC
Del Favero Family LLP
Warranty Deed
$1,350,000 · Hometown Bank
Mar 25, 1998
—
Del Favero Bldrs INC
—
Deed Of Trust
related
$1,050,000 · Pawling 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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