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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Retail properties & Spaces
224 Main St Bristol, CT 06010-4969
Entity Owned
1-yr Hold
Free & Clear
Property ID
US15-0449163
Property summary
AI-generated overview
This exceptional value-add opportunity presents a 6,224 square foot restaurant located at 224 N Main St, Bristol, CT 06010. The property boasts a 6.69% cap rate with a projected pro-forma cap rate of 12.53% and a strong NOI of $53,200, projected to increase to $99,584. Currently 100% occupied by Parkside Café under a NNN lease commencing August 1, 2021, with negotiable lease options including a potential extension and rent increase in 2026. The building, renovated in 2021, sits on a 0.68-acre lot with 30 parking spaces and is zoned BD-1. Its prime location benefits from nearby developments like the Centre Square Village (104 units opening Fall 2024) and Wheeler Health facilities, promising future growth and increased property value. The asking price is $795,000, representing a price per square foot of $127.73. This single-tenant investment offers significant upside potential in a thriving Connecticut market.
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,224 SF
Lot
0.68 ac (29,621 SF)
Zoning code
BD-1
APN
BRIS M:26 L:4A-1
UPID
US15-0449163
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
-
Parkside Cafe Restaurant
-
Foodies Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$460k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$641k
Blend (final)
Blend
$500k
Owner & transaction history
Urbane Capital LLC · 1 yrs held
Urbane Capital LLC
since 2025
Last sale
$500,000
7 recorded transactions
Zoning & alternative use
BD-1 · Bristol, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$755,000
+5.6%
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 Bristol submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bristol 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
$445,000
ML approach
$460,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$715,000
Current use
COMMERCIAL (GENERAL)
$755,000
Change: +6% · Conversion: Easy
OFFICE BUILDING
$685,000
Change: -4% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$650,000
Change: -9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$625,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$500k
Range $450k – $550k · ±10% · vs last sale $500k (May 15 2025)
Last sale anchor
$500k
May 15 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
$80 / 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
$15,275
Tax year 2023
Assessed value
$503,300
Assessed 2023
Previous assessed
$503,300
+0.0% YoY
Effective rate
3.03%
On assessed value
Assessed land
$112,070
Assessed improvement
$391,230
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
6,224 SF
Lot
0.68 ac (29,621 SF)
Zoning code
BD-1
APN
BRIS M:26 L:4A-1
UPID
US15-0449163
Jurisdiction
BRISTOL
Zoning & alternative use
BD-1 · Bristol, CT
Zoning BD-1 · permitted uses
BD-1 · Bristol, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bristol. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$715,000
COMMERCIAL (GENERAL)
Est. value
$755,000
OFFICE BUILDING
Est. value
$685,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$650,000
AUTO REPAIR, GARAGE
Est. value
$625,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
0.68 ac
Current owner
From public records · entity-resolved
Urbane Capital LLC
Entity
Free & Clear · 1 yrs held
Mailing address
698 E MAIN ST, BRANFORD, CT 06405-7204
Mailing matches property
Yes
Owner-occupied
Yes
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 15, 2025
—
Urbane Capital LLC
Sachem Capital LLC
Quitclaim Deed
related
—
Jan 18, 2019
—
Sachem Cap Corp
Supernatural Deli LLC|sachem Cap Corp
Foreclosure
related
—
Jul 6, 2017
—
Supernatural Deli LLC
—
Deed
related
$300,000 · Mona Levesque
Oct 26, 2016
—
Supernatural Deli LLC
—
Deed
related
$250,000 · Stafford Plaza LLC
Jul 28, 2016
$500,000
Supernatural Deli LLC
Stafford Plaza LLC
Warranty Deed
$750,000 · Sachem Cap Ptnrs LLC
Jan 25, 1990
$600,000
Community Svgs Bk
Odonnell,richard
Grant Deed
related
—
Aug 17, 1987
—
Richard O'donnell
—
Deed Of Trust
related
$100,000 · Community Savings Bank
—
—
Supernatural Deli LLC
—
Deed Of Trust
related
$300,000 · Mona Levesque
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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