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Property profile & analytics
OFF-MARKET
Estimated value
$1,835,000
Retail space
227 Main St Portland, CT 06480-1858
Entity Owned
5-yr Hold
Free & Clear
Property ID
US15-0415779
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1997
Construction
STEEL FRAME
Total area
9,639 SF
Lot
0.74 ac (32,234 SF)
Zoning code
B3
APN
PORT M:019 B:0060
UPID
US15-0415779
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
-
LibertyX Bitcoin ATM Atm
-
Walgreens Pharmacy Pharmacy
-
Walgreens Pharmacy
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Michael Zemaitis Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.90M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.29M
Blend (final)
Blend
$1.84M
Owner & transaction history
444 Gerard Avenue LLC · 5 yrs held
444 Gerard Avenue LLC
since 2021
Last sale
$1.8M
2 recorded transactions
Zoning & alternative use
B3 · Portland, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.1M
+130.4%
Restaurant
$1.1M
+27.2%
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 Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portland 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
$1,865,000
ML approach
$1,900,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,075,000
Change: +130% · Conversion: Easy
RESTAURANT
$1,145,000
Change: +27% · Conversion: Easy
Blend value · Realmo final
$1.84M
Range $1.65M – $2.02M · ±10% · vs last sale $1.79M (Apr 29 2021)
Last sale anchor
$1.79M
Apr 29 2021
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
$190 / 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
$42,931
Tax year 2023
Assessed value
$1,322,580
Assessed 2023
Previous assessed
$1,322,580
+0.0% YoY
Effective rate
3.25%
On assessed value
Assessed land
$278,950
Assessed improvement
$1,043,630
Applied tax rate
276.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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 space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1997
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
9,639 SF
Lot
0.74 ac (32,234 SF)
Zoning code
B3
APN
PORT M:019 B:0060
UPID
US15-0415779
Jurisdiction
PORTLAND
Zoning & alternative use
B3 · Portland, CT
Zoning B3 · permitted uses
B3 · Portland, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$2.1M
RESTAURANT
Est. value
$1.1M
OFFICE BUILDING
RESTAURANT
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
1997
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
0.74 ac
Current owner
From public records · entity-resolved
444 Gerard Avenue LLC
Entity
Free & Clear · 5 yrs held
Mailing address
886 E 149TH ST, BRONX, NY 10455-5012
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2021
$1,790,000
444 Gerard Avenue LLC
Wcs 227 Main LLC
Warranty Deed
—
Nov 16, 2007
$1
Rachi LLC
Wiltsie,rachel
Grant Deed
related
—
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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