New search
Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Showrooms
22 Chesterfield Rd East Lyme, CT 06333-1201
Entity Owned
13-yr Hold
Absentee Owner
Free & Clear
Property ID
US15-0313998
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1880
Construction
FRAME
Total area
8,672 SF
Lot
0.86 ac (37,516 SF)
Zoning code
CA
APN
ELYM M:031.1 B:00045 L:00000
UPID
US15-0313998
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
-
Flanders Fish Market & Restaurant Restaurant
-
Niantic Rotary Club Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$583k
Blend (final)
Blend
$580k
Owner & transaction history
Cappys LLC · 13 yrs held
Cappys LLC
since 2013
5 recorded transactions
Zoning & alternative use
CA · East Lyme, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$965,000
+34.9%
Apartment house (5+ units)
$735,000
+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 East Lyme submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East Lyme 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)
$715,000
Current use
RETAIL STORES
$965,000
Change: +35% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$735,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$67 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$23,442
Tax year 2024
Assessed value
$889,630
Assessed 2024
Previous assessed
$889,630
+0.0% YoY
Effective rate
2.64%
On assessed value
Assessed land
$248,220
Assessed improvement
$641,410
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
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
Off-Market
Year built
1880
Construction
FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
1
Units
2
Bathrooms
6
Total area
8,672 SF
Lot
0.86 ac (37,516 SF)
Zoning code
CA
APN
ELYM M:031.1 B:00045 L:00000
UPID
US15-0313998
Jurisdiction
EAST LYME
Zoning & alternative use
CA · East Lyme, CT
Zoning CA · permitted uses
CA · East Lyme, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
East Lyme. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$715,000
RETAIL STORES
Est. value
$965,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$735,000
COMMERCIAL (GENERAL) Current
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
1880
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
1
Buildings
1
Units
2
Bathrooms
6
Lot
0.86 ac
Current owner
From public records · entity-resolved
Cappys LLC
Entity
Free & Clear · 13 yrs held
Mailing address
11 S LEE RD, NIANTIC, CT 06357-2207
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 25, 2013
—
Cappys LLC
Formica,paul M
Quit Claim Deed
related
—
Jun 2, 2000
—
Paul M Formica
—
Deed Of Trust
related
$200,000 · Dime Savings Bank Norwich
Feb 2, 2000
—
Paul M Formica
—
Deed Of Trust
related
$772,000 · Dime Savings Bank Norwich
Dec 1, 1994
—
Paul Formica
—
Deed Of Trust
related
$245,000 · Chelseagroton Savings Bank
Mar 25, 1988
—
Paul Formica
—
Deed Of Trust
related
$186,000 · 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 22 Chesterfield Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
