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Property profile & analytics
OFF-MARKET
Estimated value
$695,000
Office buildings
31 Water St, Mystic, CT 06355-2568
Entity Owned
19-yr Hold
Free & Clear
Property ID
US15-0417754
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1930
Total area
3,750 SF
Zoning code
MDD
APN
GROT M:261918306046 L:00B1
UPID
US15-0417754
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
-
Kleeman Chiropractic Center Alternative Medicine Practice
-
Laskey N Peter Law Firm
-
Cool Boats LLC HVAC Service General Contractor
-
Mystic Downtown Marina Marina
-
Greython Construction Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$764k
Blend (final)
Blend
$695k
Owner & transaction history
New Castle Dev Co LLC · 19 yrs held
New Castle Dev Co LLC
since 2007
4 recorded transactions
Zoning & alternative use
MDD · Mystic, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
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
OFFICE BUILDING
$515,000
Current use
RETAIL STORES
$420,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$695k
Range $626k – $765k · ±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
$185 / 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
$9,836
Tax year 2023
Assessed value
$404,670
Assessed 2023
Previous assessed
$404,670
+0.0% YoY
Effective rate
2.43%
On assessed value
Assessed improvement
$404,670
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1930
Heating
HOT WATER
Buildings
1
Stories
2
Bathrooms
2
Total area
3,750 SF
Zoning code
MDD
APN
GROT M:261918306046 L:00B1
UPID
US15-0417754
Jurisdiction
GROTON
Zoning & alternative use
MDD · Mystic, CT
Zoning MDD · permitted uses
MDD · 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 Current
Est. value
$515,000
RETAIL STORES
Est. value
$420,000
OFFICE BUILDING Current
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
1930
Heating
HOT WATER
Stories
2
Buildings
1
Bathrooms
2
Current owner
From public records · entity-resolved
New Castle Dev Co LLC
Entity
Free & Clear · 19 yrs held
Mailing address
31 WATER ST, MYSTIC, CT 06355-2568
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 7, 2007
$1
New Castle Dev Co LLC
Randalls Wharf Co LLC
Grant Deed
related
—
Mar 7, 2007
—
New Castle Dev Co LLC
—
Deed Of Trust
related
$400,000 · Washington Trust Co
Aug 10, 2001
$750,000
Leonard A Levine
Randalls Warf Co LLC
Warranty Deed
$704,000 · Dime Savings Bank Norwich
Apr 29, 1999
$727,000
New Castle Dev Co LLC
Randalls Wharf Co LLC
Warranty Deed
—
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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