Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,320,000
Apartment buildings
278 Meridian St Groton, CT 06340-4039
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US15-0598882
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1975
Total area
21,870 SF
Lot
18.86 ac (821,542 SF)
Zoning code
RM
APN
GROT M:168919613880
UPID
US15-0598882
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
-
Peppertree Apartments Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.50M
Blend (final)
Blend
$2.32M
Owner & transaction history
Peppertree Realty LLC · 8 yrs held
Peppertree Realty LLC
since 2018
3 recorded transactions
Zoning & alternative use
RM · Groton, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.0M
+61.9%
Retail stores
$2.4M
+31.5%
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
APARTMENT HOUSE (5+ UNITS)
$1,855,000
Current use
OFFICE BUILDING
$3,000,000
Change: +62% · Conversion: Moderate
RETAIL STORES
$2,435,000
Change: +31% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,845,000
Change: -1% · Conversion: Moderate
Blend value · Realmo final
$2.32M
Range $2.09M – $2.55M · ±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
$106 / 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
$271,288
Tax year 2024
Assessed value
$10,088,820
Assessed 2024
Previous assessed
$10,088,820
+0.0% YoY
Effective rate
2.69%
On assessed value
Assessed land
$5,747,126
Assessed improvement
$4,341,694
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
1975
Heating
NONE
Buildings
8
Units
205
Total area
21,870 SF
Lot
18.86 ac (821,542 SF)
Zoning code
RM
APN
GROT M:168919613880
UPID
US15-0598882
Jurisdiction
GROTON
Zoning & alternative use
RM · Groton, CT
Zoning RM · permitted uses
RM · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.9M
OFFICE BUILDING
Est. value
$3.0M
RETAIL STORES
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
1975
Heating
NONE
Buildings
8
Units
205
Lot
18.86 ac
Current owner
From public records · entity-resolved
Peppertree Realty LLC
Entity
Free & Clear · 8 yrs held
Mailing address
475 OBERLIN AVE S STE #207, LAKEWOOD, NJ 08701-7024
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Jul 2, 2020
—
Peppertree Realty LLC
—
Deed
related
$22,250,000 · Arbor Realty SR
Mar 9, 2018
—
Peppertree Realty LLC
North South Harbor LP
Quit Claim Deed
—
—
—
Peppertree Realty LLC
—
Deed Of Trust
related
$22,250,000 · Arbor Realty SR
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?”
You own 278 Meridian St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
