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Property profile & analytics
OFF-MARKET
Estimated value
$1,530,000
Showrooms
313-315 Main St, Norwich, CT 06360
Individually Owned
39-yr Hold
~
Est. High Equity
Property ID
US15-0441663
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1988
Construction
STEEL FRAME
Total area
21,212 SF
Lot
1.53 ac (66,647 SF)
Zoning code
GC
APN
NORW M:101 B:2 L:33
UPID
US15-0441663
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.42M
Blend (final)
Blend
$1.53M
Owner & transaction history
Richard Legare · 39 yrs held
Richard Legare
since 1987
5 recorded transactions
Zoning & alternative use
GC · Norwich, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.4M
+77.8%
Apartment house (5+ units)
$1.6M
+16.7%
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 Norwich submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norwich 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
COMMERCIAL (GENERAL)
$1,330,000
Current use
RETAIL STORES
$2,365,000
Change: +78% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,550,000
Change: +17% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,295,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$1.53M
Range $1.38M – $1.68M · ±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
$72 / 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
$68,485
Tax year 2023
Assessed value
$1,408,000
Assessed 2023
Previous assessed
$1,408,000
+0.0% YoY
Effective rate
4.86%
On assessed value
Assessed land
$343,600
Assessed improvement
$1,064,400
Applied tax rate
386.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
3
Total area
21,212 SF
Lot
1.53 ac (66,647 SF)
Zoning code
GC
APN
NORW M:101 B:2 L:33
UPID
US15-0441663
Jurisdiction
NORWICH
Zoning & alternative use
GC · Norwich, CT
Zoning GC · permitted uses
GC · Norwich, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norwich. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
RETAIL STORES
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
COMMERCIAL (GENERAL) Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (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
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
3
Lot
1.53 ac
Current owner
From public records · entity-resolved
Richard Legare
Individual
Mailing address
137 OXOBOXO DM RD, UNCASVILLE, CT 06382
Ownership since
1987
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2019
—
315 W Main LLC
—
Deed
related
$1,475,000 · Eastern S&l
Jan 29, 1998
—
Richard Legare
—
Deed Of Trust
related
$1,365,000 · Norwich Savings Society
Jun 19, 1987
—
Richard J Legare
—
Deed Of Trust
related
$1,500,000 · Norwich Savings Society
Apr 28, 1987
$208,800
Richard Legare
Norwich Comm Dev
Grant Deed
$208,800 · Norwich Savings Society
—
—
315 W Main LLC
—
Deed Of Trust
related
$1,475,000 · Eastern S&l
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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