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Property profile & analytics
FOR LEASE
Showrooms
215 Bank St New London, CT 06320
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US15-0808157
For Lease
1 / 26
$2,400/Mo
215 Bank St, New London, CT 06320
View Listing →
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,512 SF
Lot
0.21 ac (9,260 SF)
APN
NLON M:G13 B:0139 L:0007
UPID
US15-0808157
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
-
Kente Cultural Center Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$600k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$410k
Blend (final)
Blend
$600k
Owner & transaction history
Amity Park LLC · 2 yrs held
Amity Park LLC
since 2024
Last sale
$600,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$955,000
+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
$600,000
ML approach
$600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$820,000
Current use
APARTMENT HOUSE (5+ UNITS)
$955,000
Change: +17% · Conversion: Moderate
Blend value · Realmo final
$600k
Range $540k – $660k · ±10% · vs last sale $600k (Jan 11 2024)
Last sale anchor
$600k
Jan 11 2024
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
$57 / 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
$9,601
Tax year 2023
Assessed value
$249,830
Assessed 2023
Previous assessed
$249,830
+0.0% YoY
Effective rate
3.84%
On assessed value
Assessed land
$86,100
Assessed improvement
$163,730
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
For Lease
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
1
Stories
2
Units
7
Total area
10,512 SF
Lot
0.21 ac (9,260 SF)
APN
NLON M:G13 B:0139 L:0007
UPID
US15-0808157
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
$820,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$955,000
COMMERCIAL (GENERAL) Current
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
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
2
Buildings
1
Units
7
Lot
0.21 ac
Current owner
From public records · entity-resolved
Amity Park LLC
Entity
Mailing address
219 BANK ST, NEW LONDON, CT 06320-6080
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 11, 2024
$600,000
Amity Park LLC
Cornish Contracting & Re
Quit Claim Arm's Length For Ne States
$330,000 · Solo Group LLC
Mar 3, 1997
$100,000
William M Cornish
Citizens Savings Bank
Grant Deed
—
May 23, 1996
—
William M Cornish
—
Deed Of Trust
related
$30,000 · New London City
Apr 28, 1995
$150,000
William M Cornish
Bank Of Southeastern
Grant Deed
$120,000 · Bank Of Southeast Ct
Jan 3, 1990
—
Marketplace Harbour
—
Deed Of Trust
related
$35,000 · Youville Hospital Employee FCU
Apr 8, 1988
$275,000
Marketplace Harbour
Wenc,edwin J
Grant Deed
$330,000 · Bank Of Southeast Ct
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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