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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    226 Grv St New Britain, CT 06053-3734

    • Residential income homes
    • 6,552 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    May 11, 2023
    $415,000
    Value Estimations
    $435,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0312257
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 226 Grv St

    Year built
    1925
    Lot size
    0.17 lot acres
    Property size
    6,552 SF
    Zone code
    T
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    NBRI M:C6C B:149
    APU
    NBRIMC6CB149

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $430,000
      ML approach
      $410,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $459,000
      Market price range: $460k - $812k
      AI Estimate
      $386,000
      Market price range: $387k - $577k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $610,000
      Current use
      AUTO REPAIR, GARAGE
      $655,000
      Change: +8% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $490,000
      Change: -20% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New Britain
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.7884
    Latitude
    41.6759
    CBSA code
    25540
    CBSA name
    HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $10,710
    $45,780
    $234,010
    $279,790
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,135,000
      0.44 Acres

      14 Crown St

      APARTMENT HOUSE (UNDER 5 UNITS) • 0.44 Acres
      14 Crown St, New Britain, CT 06053-4045
      View Details
    • Value Estimation
      $350,000
      5,040 SF

      221 Winfield Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,040 SF
      221 Winfield Dr, New Britain, CT 06053-2618
      View Details
    • Value Estimation
      $300,000
      3,504 SF

      5 Marwood Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,504 SF
      5 Marwood Dr, New Britain, CT 06053-2607
      View Details
    • Value Estimation
      $295,000
      3,744 SF

      103 Orange St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,744 SF
      103 Orange St, New Britain, CT 06053-4149
      View Details
    • Value Estimation
      $345,000
      4,084 SF

      61 Albany Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,084 SF
      61 Albany Ave, New Britain, CT 06053-3586
      View Details
    • Value Estimation
      $300,000
      2,688 SF

      597 Burritt St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,688 SF
      597 Burritt St, New Britain, CT 06053-4801
      View Details

    Similar Nearby for Sale

    • $379,900

      Spacious Two-Family Home

      Two-family home with identical units, ideal for owner-occupants or investors.
      38 Brown St, New Britain, CT 06053
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      Well-Maintained Three-Family Property

      Three-family property with separate utilities, garage bays, newer roof.
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    • $330,000

      Spacious Two-Family Home

      Two-family home with separate utilities, great for investment.
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    • $319,900

      Two-Family Home in Quiet Neighborhood

      Two-family property with income potential in a desirable location.
      43 Westerly St, New Britain, CT 06053
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    • $535,000

      Mixed-Use Building in High-Traffic Location

      Fully occupied, four-unit building with commercial and residential spaces.
      335 Broad St, New Britain, CT 06053
      View Details
    • $444,000

      Spacious Multi-Family Home

      Three-unit property with ample space and parking.
      426 Allen St, New Britain, CT 06053
      View Details

    Similar Nearby for Lease

    • $1,625 /Mo

      Spacious Unit Near Amenities

      1100 sqft unit with easy access to highways and amenities.
      450 Allen St, New Britain, CT 06053
      View Details
    • $1,990 /Mo

      Spacious Apartment in Quiet Neighborhood

      Inviting 3-bedroom apartment with modern amenities in New Britain.
      985 Slater Rd, New Britain, CT 06053
      View Details
    • $1,500 /Mo

      Refreshed Apartment with Hardwood Floors

      Move-in ready 2-bedroom apartment with on-site laundry and parking.
      23 Marmon St, New Britain, CT 06053
      View Details
    • $2,200 /Mo

      Spacious Apartment with Modern Amenities

      Move-in ready apartment near shopping, highways, and UConn Health.
      178 Oakland Ave, New Britain, CT 06053
      View Details
    • $2,000 /Mo

      Commercial Lot For Lease

      4-acre commercial lot for lease in New Britain, CT.
      723 Farmington Ave, New Britain, CT 06053
      View Details
    • $1,800 /Mo

      Renovated Apartment in Quiet Neighborhood

      Renovated 3rd-floor apartment with modern amenities in a desirable location.
      40 Pulaski St, New Britain, CT 06053
      View Details
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    226 Grv St
    New Britain, CT 06053-3734
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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