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Property profile & analytics
OFF-MARKET
Estimated value
$1,405,000
Retail properties & Spaces
340 Flanders Rd East Lyme, CT 06333-1710
Individually Owned
Absentee Owner
~
Est. High Equity
Property ID
US15-0986507
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
2006
Construction
STEEL FRAME
Total area
13,167 SF
Lot
1.68 ac (73,181 SF)
Zoning code
CA
APN
ELYM M:031.1 B:00002 L:00000
UPID
US15-0986507
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy Pharmacy
-
Walgreens Pharmacy
-
Hartford HealthCare at Walgreens Medical Clinic
-
James Fillion Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.52M
Blend (final)
Blend
$1.41M
Owner & transaction history
Retail Propco Borrower Ll
Retail Propco Borrower Ll
since 2025
5 recorded transactions
Zoning & alternative use
CA · East Lyme, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.8M
+23.1%
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 East Lyme submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East Lyme 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
RETAIL STORES
$1,465,000
Current use
OFFICE BUILDING
$1,805,000
Change: +23% · Conversion: Easy
Blend value · Realmo final
$1.41M
Range $1.26M – $1.55M · ±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
$107 / 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
$56,142
Tax year 2023
Assessed value
$2,256,520
Assessed 2023
Previous assessed
$2,256,520
+0.0% YoY
Effective rate
2.49%
On assessed value
Assessed land
$706,160
Assessed improvement
$1,550,360
Applied tax rate
352.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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 properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
2006
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
13,167 SF
Lot
1.68 ac (73,181 SF)
Zoning code
CA
APN
ELYM M:031.1 B:00002 L:00000
UPID
US15-0986507
Jurisdiction
EAST LYME
Zoning & alternative use
CA · East Lyme, CT
Zoning CA · permitted uses
CA · East Lyme, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
East Lyme. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.8M
RETAIL STORES Current
OFFICE BUILDING
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
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
1.68 ac
Current owner
From public records · entity-resolved
Retail Propco Borrower Ll
Individual
Mailing address
200 WILMOT RD, DEERFIELD, IL 60015-4620
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Sep 4, 2025
—
Retail Propco Borrower Ll
Walgreen Eastern Co INC
Warranty Deed
$545,000,000 · Wells Fargo Bank NA
Sep 14, 2006
$1
Conn State Of
Pjc Lyme Realty LLC
Warranty Deed
related
—
May 16, 2006
$3,400,000
Pjc East Lyme Realty LLC
Karsmarski,richard
Warranty Deed
—
Apr 1, 1998
—
Richard D Karsmarski
—
Deed Of Trust
related
$250,000 · Citizens Savings Bank Ct
May 12, 1992
—
Richard Karsmarski
—
Deed Of Trust
related
$77,000 · Connecticut 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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