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Property profile & analytics
OFF-MARKET
Estimated value
$1,200,000
Retail properties & Spaces
224 Main St Newtown, CT 06470-6700
Entity Owned
2-yr Hold
Free & Clear
Property ID
US15-0866089
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
2006
Construction
FRAME
Total area
6,000 SF
Lot
1.73 ac (75,359 SF)
Zoning code
B-1
APN
NEWT M:36 B:14 L:7
UPID
US15-0866089
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
-
Taylored Hair Hair Salon
-
Happy Dog Pet Salon LLC Pet Grooming Service
-
Extension Artist and Master Colorist Hair Salon
-
Rise Extensions Hair Salon
-
qiao massage spa Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.20M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$1.20M
Owner & transaction history
Mastroni Investors LLC · 2 yrs held
Mastroni Investors LLC
since 2024
Last sale
$1.2M
4 recorded transactions
Zoning & alternative use
B-1 · Newtown, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.5M
+38.2%
Auto repair, garage
$1.4M
+25.7%
Commercial (general)
$1.4M
+25.4%
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 Newtown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newtown 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
$1,200,000
ML approach
$1,200,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,115,000
Current use
RESTAURANT
$1,540,000
Change: +38% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,400,000
Change: +26% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,400,000
Change: +25% · Conversion: Easy
OFFICE BUILDING
$1,045,000
Change: -6% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$950,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$1.20M
Range $1.08M – $1.32M · ±10% · vs last sale $1.20M (Apr 10 2024)
Last sale anchor
$1.20M
Apr 10 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
$200 / 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
$14,107
Tax year 2023
Assessed value
$537,610
Assessed 2023
Previous assessed
$537,610
+0.0% YoY
Effective rate
2.62%
On assessed value
Assessed land
$242,380
Assessed improvement
$295,230
Applied tax rate
106.0000
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
2006
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
6
Rooms
7
Bathrooms
4
Total area
6,000 SF
Lot
1.73 ac (75,359 SF)
Zoning code
B-1
APN
NEWT M:36 B:14 L:7
UPID
US15-0866089
Jurisdiction
NEWTOWN
Zoning & alternative use
B-1 · Newtown, CT
Zoning B-1 · permitted uses
B-1 · Newtown, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newtown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$950,000
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2006
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
6
Rooms
7
Bathrooms
4
Lot
1.73 ac
Current owner
From public records · entity-resolved
Mastroni Investors LLC
Entity
Free & Clear · 2 yrs held
Mailing address
600 S LINDLEY ST, BRIDGEPORT, CT 06606-5044
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 10, 2024
—
Mastroni Investors LLC
Robert Mastroni
Quit Claim Deed
related
—
Apr 10, 2024
$1,200,000
Aquarion Water Co
Mastroni Investors LLC
Warranty Deed
—
Dec 3, 2004
$250,000
Robert Mastroni
Volpe,judith
Warranty Deed
—
Jul 24, 1997
$145,000
Judith B Volpe
Crick,james W JR
Grant Deed
$131,000 · American Bk Of 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.
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