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Property profile & analytics
FOR SALE
Bowling alleys
240 Spring St Southington, CT 06489
Individually Owned
23-yr Hold
~
Est. High Equity
Property ID
US15-0307188
For Sale
1 / 14
Contact for pricing
240 Spring St, Southington, CT 06489
View Listing →
Property profile
Verified
Property type
Bowling alleys
Use group
BOWLING ALLEY
Year built
1972
Total area
32,584 SF
Lot
2.29 ac (99,752 SF)
Zoning code
I-1
APN
SOUT M:169 L:010
UPID
US15-0307188
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
-
Crystal Bees Arcade & Gaming Center Family Recreation Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$720k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$720k
Owner & transaction history
Donald A Millard JR. · 23 yrs held
Donald A Millard JR.
since 2003
1 recorded transaction
Zoning & alternative use
I-1 · Southington, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The industrial district is intended to provide suitable areas for industrial development appropriate to overall community and regional needs, the location and characteristics of the land, and the characteristics of the area
Zone name
Industrial
General category
INDUSTRIAL
Zone area
1,458.50 ac
Source
Realmo
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 Southington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Southington 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
$720,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$720k
Range $648k – $792k · ±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
$22 / 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
$34,332
Tax year 2023
Assessed value
$1,130,820
Assessed 2023
Previous assessed
$1,130,820
+0.0% YoY
Effective rate
3.04%
On assessed value
Assessed land
$135,140
Assessed improvement
$995,680
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
Bowling alleys
Use group
BOWLING ALLEY
Status
For Sale
Year built
1972
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Total area
32,584 SF
Lot
2.29 ac (99,752 SF)
Zoning code
I-1
APN
SOUT M:169 L:010
UPID
US15-0307188
Jurisdiction
SOUTHINGTON
Zoning & alternative use
I-1 · Southington, CTZoning I-1 · permitted uses
I-1 · Southington, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The industrial district is intended to provide suitable areas for industrial development appropriate to overall community and regional needs, the location and characteristics of the land, and the characteristics of the area
Zone name
Industrial
General category
INDUSTRIAL
Zone area
1,458.50 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1972
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
2.29 ac
Current owner
From public records · entity-resolved
Donald A Millard JR.
Individual
Mailing address
240 SPG ST, SOUTHINGTON, CT 06489-1514
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2003
—
Donald A Millard JR.
—
Deed Of Trust
related
$1,268,950 · Artwell Enterpris Ltd
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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