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Property profile & analytics
OFF-MARKET
Estimated value
$2,905,000
Retail space
3050 Berlin Tpke Newington, CT 06111-4602
Entity Owned
20-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US15-0440640
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,033 SF
Lot
2.62 ac (114,127 SF)
Zoning code
PD
APN
NEWI M:28 B:210 L:1
UPID
US15-0440640
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
-
La-Z-Boy Furniture Galleries Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.66M
Comparable Approach
Comparable
$3.06M
Blend (final)
Blend
$2.91M
Owner & transaction history
Cnlrs Exchange 1 INC · 20 yrs held
Cnlrs Exchange 1 INC
since 2005
3 recorded transactions
Zoning & alternative use
PD · Newington, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.6M
+69.3%
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 Newington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newington 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%
$3,960,000
6.5%
$3,655,000
7%
$3,395,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,125,000
Current use
RESTAURANT
$3,595,000
Change: +69% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,885,000
Change: -11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,840,000
Change: -13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,840,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$2.91M
Range $2.61M – $3.20M · ±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
$138 / 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
$120,834
Tax year 2023
Assessed value
$3,150,000
Assessed 2023
Previous assessed
$3,150,000
+0.0% YoY
Effective rate
3.84%
On assessed value
Assessed land
$700,000
Assessed improvement
$2,450,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
21,033 SF
Lot
2.62 ac (114,127 SF)
Zoning code
PD
APN
NEWI M:28 B:210 L:1
UPID
US15-0440640
Jurisdiction
NEWINGTON
Zoning & alternative use
PD · Newington, CT
Zoning PD · permitted uses
PD · Newington, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.1M
RESTAURANT
Est. value
$3.6M
AUTO REPAIR, GARAGE
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.8M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
2.62 ac
Current owner
From public records · entity-resolved
Cnlrs Exchange 1 INC
Entity
Mailing address
1 N LAZBOY DR STE #300, MONROE, MI 48162-5138
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
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
Apr 9, 2008
—
Raju Newington LLC
—
Deed Of Trust
related
$1,000,000 · Zions First National Bank
Aug 29, 2005
$1,350,000
Cnlrs Exchange 1 INC
Marquez,alice
Warranty Deed
—
—
—
Raju At Newington LLC
—
Deed Of Trust
related
$500,000 · Mary Lomartra
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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