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Property profile & analytics
OFF-MARKET
Estimated value
$3,595,000
Commercial real estate
247-251 Greenmanville Ave Mystic, CT 06355
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US15-0517972
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,544 SF
Lot
4.13 ac (179,903 SF)
Zoning code
TC-80
APN
STON M:171 B:1 L:1
UPID
US15-0517972
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
$3.55M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.60M
Owner & transaction history
Unicorn Project LLC · 5 yrs held
Unicorn Project LLC
since 2021
Last sale
$3.7M
3 recorded transactions
Zoning & alternative use
TC-80 · Mystic, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.8M
+66.1%
Retail stores
$2.3M
+34.9%
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 Mystic submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mystic 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
$3,480,000
ML approach
$3,545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,820,000
Change: +66% · Conversion: Easy
RETAIL STORES
$2,290,000
Change: +35% · Conversion: Easy
Blend value · Realmo final
$3.60M
Range $3.24M – $3.95M · ±10% · vs last sale $3.68M (Apr 1 2021)
Last sale anchor
$3.68M
Apr 1 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
$175 / 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
$52,352
Tax year 2023
Assessed value
$2,637,400
Assessed 2023
Previous assessed
$2,308,000
+14.3% YoY
Effective rate
1.98%
On assessed value
Assessed land
$1,297,600
Assessed improvement
$1,339,800
Applied tax rate
372.0000
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
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
2
Units
56
Total area
20,544 SF
Lot
4.13 ac (179,903 SF)
Zoning code
TC-80
APN
STON M:171 B:1 L:1
UPID
US15-0517972
Jurisdiction
STONINGTON
Zoning & alternative use
TC-80 · Mystic, CT
Zoning TC-80 · permitted uses
TC-80 · Mystic, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mystic. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$2.8M
RETAIL STORES
Est. value
$2.3M
OFFICE BUILDING
RETAIL STORES
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
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Units
56
Lot
4.13 ac
Current owner
From public records · entity-resolved
Unicorn Project LLC
Entity
Mailing address
247 GREENMANVILLE AVE, MYSTIC, CT 06355-1962
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2025
—
Unicorn Project LLC
—
Deed
related
$2,000,000 · Jewett City Savings Bank
Apr 1, 2021
$3,675,000
Unicorn Project LLC
Commerce Dr LLC
Warranty Deed
$2,950,000 · East Lyme Rent A Spac
May 8, 2008
—
Lillian I Kauppinen Ret
—
Deed Of Trust
related
$600,000 · Zions First National 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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