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Property profile & analytics
OFF-MARKET
Estimated value
$8,050,000
Showrooms
220 Salem Tpke Norwich, CT 06360-6455
Entity Owned
32-yr Hold
Free & Clear
Property ID
US15-0613954
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
122,921 SF
Lot
16.6 ac (723,096 SF)
Zoning code
PC
APN
NORW M:121 B:2 L:25
UPID
US15-0613954
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
-
MoneyGram Bank Credit Union
-
Mark D. Yorgensen, OD Physician
-
Walmart Home Theater Installation Electrical Service General Contractor
-
Jackson Hewitt Tax Service Accounting Firm Tax Preparation
-
Walmart Connection Center Mobile Phone Store Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.46M
Blend (final)
Blend
$8.05M
Owner & transaction history
Asylum View LP · 32 yrs held
Asylum View LP
since 1993
3 recorded transactions
Zoning & alternative use
PC · Norwich, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$9.0M
+16.7%
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 Norwich submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norwich 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)
$7,705,000
Current use
APARTMENT HOUSE (5+ UNITS)
$8,990,000
Change: +17% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$7,515,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$8.05M
Range $7.25M – $8.86M · ±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
$65 / 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
$310,422
Tax year 2023
Assessed value
$7,417,500
Assessed 2023
Previous assessed
$7,417,500
+0.0% YoY
Effective rate
4.18%
On assessed value
Assessed land
$3,137,300
Assessed improvement
$4,280,200
Applied tax rate
386.0000
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
Off-Market
Year built
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
3
Total area
122,921 SF
Lot
16.6 ac (723,096 SF)
Zoning code
PC
APN
NORW M:121 B:2 L:25
UPID
US15-0613954
Jurisdiction
NORWICH
Zoning & alternative use
PC · Norwich, CT
Zoning PC · permitted uses
PC · Norwich, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norwich. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$7.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.0M
INDUSTRIAL (GENERAL)
Est. value
$7.5M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
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
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
3
Lot
16.6 ac
Current owner
From public records · entity-resolved
Asylum View LP
Entity
Free & Clear · 32 yrs held
Mailing address
PO BOX 8050, BENTONVILLE, AR 72712-8055
Ownership since
1993
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 4, 1993
$400,000
Asylum View LP
Johnston,h Lister
Warranty Deed
—
Nov 4, 1993
$335,735
Asylum View LP
Mea Assoc
Warranty Deed
—
Aug 27, 1993
$135,000
Asylum View LP
Murphy,robert J
Warranty Deed
—
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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