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Property profile & analytics
OFF-MARKET
Estimated value
$3,675,000
Hotels
215 Main St Niantic, CT 06357-3223
Entity Owned
1-yr Hold
Property ID
US15-1050115
Property profile
Verified
Property type
Hotels
Use group
HOTEL-RESORT
Year built
1868
Total area
26,149 SF
Lot
0.78 ac (33,977 SF)
Zoning code
CB
APN
ELYM M:012.1 B:00072 L:00000
UPID
US15-1050115
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
-
Morton Hotel Hotel & Motel
-
Joe the Plumber, Heating and Cooling Plumbing Service General Contractor
-
Five Churches By The Bay Restaurant
-
Hale's Floor Covering, LLC Carpet & Flooring Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.42M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.68M
Owner & transaction history
Zdm Properties LLC · 1 yrs held
Zdm Properties LLC
since 2025
Last sale
$3.7M
7 recorded transactions
Zoning & alternative use
CB · Niantic, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.5M
+201.9%
Auto repair, garage
$2.5M
+200.5%
Restaurant
$2.4M
+194.6%
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 Niantic submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Niantic 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
$3,630,000
ML approach
$3,420,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,495,000
Change: +202% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,480,000
Change: +200% · Conversion: Difficult
RESTAURANT
$2,435,000
Change: +195% · Conversion: Difficult
Blend value · Realmo final
$3.68M
Range $3.31M – $4.04M · ±10% · vs last sale $3.70M (Mar 20 2025)
Last sale anchor
$3.70M
Mar 20 2025
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
$141 / 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
$23,266
Tax year 2023
Assessed value
$935,130
Assessed 2023
Previous assessed
$935,130
+0.0% YoY
Effective rate
2.49%
On assessed value
Assessed land
$320,180
Assessed improvement
$614,950
Applied tax rate
352.0000
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
Hotels
Use group
HOTEL-RESORT
Status
Off-Market
Year built
1868
Heating
STEAM
Cooling
YES
Buildings
1
Stories
4
Units
46
Bathrooms
9
Total area
26,149 SF
Lot
0.78 ac (33,977 SF)
Zoning code
CB
APN
ELYM M:012.1 B:00072 L:00000
UPID
US15-1050115
Jurisdiction
EAST LYME
Zoning & alternative use
CB · Niantic, CT
Zoning CB · permitted uses
CB · Niantic, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Niantic. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.5M
RESTAURANT
Est. value
$2.4M
RETAIL STORES
AUTO REPAIR, GARAGE
RESTAURANT
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
1868
Heating
STEAM
Cooling
Yes
Stories
4
Buildings
1
Units
46
Bathrooms
9
Lot
0.78 ac
Current owner
From public records · entity-resolved
Zdm Properties LLC
Entity
Mailing address
7 UPPR HEATHERWOOD, CROMWELL, CT 06416-2709
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 20, 2025
$3,700,000
Zdm Properties LLC
Niantic Morton House LLC
Warranty Deed
$3,330,000 · Niantic Morton House
Jun 15, 2012
—
Donald Mondani
—
Deed Of Trust
related
$457,540 · First Niagara Bank
May 13, 2003
—
Niantic Morton House LLC
—
Deed Of Trust
related
$900,000 · Savings Bank Of Manchester
Dec 6, 2001
$775,000
Paul Breglio
Barnum,karl
Warranty Deed
$580,000 · Mass Mutual Life Ins
May 24, 2000
—
Karl E Barnum
—
Deed Of Trust
related
$50,000 · Dime Savings Bank Norwich
Jul 29, 1999
—
Karl Barnum
—
Deed Of Trust
related
$200,000 · Dime Savings Bank Norwich
May 23, 1995
$95,000
Karl Barnum
Stavropoulos,athena
Warranty Deed
$95,000 · Zwi Kohorn
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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