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Property profile & analytics
OFF-MARKET
Estimated value
$9,070,000
Commercial real estate
231 Lestertown Rd Groton, CT 06340-2874
Individually Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US15-0216454
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1925
Total area
73,446 SF
Lot
69.87 ac (3,043,537 SF)
Zoning code
R-12
APN
GROT M:168906288556
UPID
US15-0216454
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.81M
Blend (final)
Blend
$9.07M
Owner & transaction history
Odd Fellows Home Of Ct · 12 yrs held
Odd Fellows Home Of Ct
since 2013
5 recorded transactions
Zoning & alternative use
R-12 · Groton, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$10.1M
+62.7%
Retail stores
$8.2M
+32.1%
Apartment house (5+ units)
$6.2M
+0.5%
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 Groton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Groton 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)
$6,195,000
Current use
OFFICE BUILDING
$10,080,000
Change: +63% · Conversion: Easy
RETAIL STORES
$8,185,000
Change: +32% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$6,225,000
Change: +1% · Conversion: Moderate
Blend value · Realmo final
$9.07M
Range $8.16M – $9.98M · ±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
$123 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$604,667
Tax year 2024
Assessed value
$22,579,060
Assessed 2024
Previous assessed
$22,579,060
+0.0% YoY
Effective rate
2.68%
On assessed value
Assessed land
$9,650,067
Assessed improvement
$12,928,993
Applied tax rate
355.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1925
Heating
HOT WATER
Buildings
9
Stories
2
Units
184
Total area
73,446 SF
Lot
69.87 ac (3,043,537 SF)
Zoning code
R-12
APN
GROT M:168906288556
UPID
US15-0216454
Jurisdiction
GROTON
Zoning & alternative use
R-12 · Groton, CT
Zoning R-12 · permitted uses
R-12 · Groton, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Groton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$6.2M
OFFICE BUILDING
Est. value
$10.1M
RETAIL STORES
Est. value
$8.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.2M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
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
1925
Heating
HOT WATER
Stories
2
Buildings
9
Units
184
Lot
69.87 ac
Current owner
From public records · entity-resolved
Odd Fellows Home Of Ct
Individual
Free & Clear · 12 yrs held
Mailing address
235 LESTERTOWN RD, GROTON, CT 06340-2808
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 8, 2013
—
Odd Fellows Home Of Ct
Odd Fellows Home Of Ct
Quit Claim Deed
related
—
Oct 7, 2013
—
Odd Fellows Home Of Ct
Odd Fellows Home Of Ct
Quit Claim Deed
related
—
Nov 22, 2010
—
Oddfellows Home Of Conn
—
Deed Of Trust
related
$350,000 · Chelseagroton Savings Bank
Feb 26, 1999
—
Odd Fellows Home
—
Deed Of Trust
related
$2,405,000 · Chelseagroton Savings Bank
Jan 27, 1988
—
Odd Fellows Home Ct
—
Deed Of Trust
related
$3,000,000 · Ne Federal Savings Bank
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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