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Property profile & analytics
OFF-MARKET
Estimated value
$7,460,000
Investment properties
341 Smith Ave New Haven, CT 06513-1147
Individually Owned
3-yr Hold
Free & Clear
Property ID
US15-0948523
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1972
Total area
41,645 SF
Lot
11.96 ac (521,110 SF)
Zoning code
RM1
APN
NHVN M:133 B:1054 L:00900
UPID
US15-0948523
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
$8.84M
Comparable Approach
Comparable
$7.89M
Blend (final)
Blend
$7.46M
Owner & transaction history
Sunset Ridge Apartments L · 3 yrs held
Sunset Ridge Apartments L
since 2023
5 recorded transactions
Zoning & alternative use
RM1 · New Haven, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.1M
+29.6%
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 New Haven submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Haven 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%
$9,580,000
6.5%
$8,840,000
7%
$8,210,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,700,000
Current use
RESTAURANT
$6,090,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$4,495,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$7.46M
Range $6.71M – $8.21M · ±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
$179 / 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
$249,510
Tax year 2023
Assessed value
$6,707,260
Assessed 2023
Previous assessed
$6,707,260
+0.0% YoY
Effective rate
3.72%
On assessed value
Assessed land
$2,310,000
Assessed improvement
$4,397,260
Applied tax rate
306.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1972
Heating
OIL
Cooling
YES
Buildings
4
Stories
2
Units
48
Total area
41,645 SF
Lot
11.96 ac (521,110 SF)
Zoning code
RM1
APN
NHVN M:133 B:1054 L:00900
UPID
US15-0948523
Jurisdiction
NEW HAVEN
Zoning & alternative use
RM1 · New Haven, CT
Zoning RM1 · permitted uses
RM1 · New Haven, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Haven. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$4.7M
RESTAURANT
Est. value
$6.1M
OFFICE BUILDING
Est. value
$4.5M
COMMERCIAL (GENERAL) Current
RESTAURANT
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
1972
Heating
OIL
Cooling
Yes
Stories
2
Buildings
4
Units
48
Lot
11.96 ac
Current owner
From public records · entity-resolved
Sunset Ridge Apartments L
Individual
Free & Clear · 3 yrs held
Mailing address
86 RTE 59TH AVE, SPRING VALLEY, NY 10977-5214
Ownership since
2023
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 5, 2023
—
Sunset Ridge Apartments L
B G Connecticut I LLC
Warranty Deed
—
Mar 27, 1998
$6,828,000
New Haven Winn LP
Drubner,norman S
Grant Deed
$10,950,000 · Ct Housing Fin Auth
May 16, 1991
—
Norman S Drubner
—
Deed Of Trust
related
$29,746,360 · Centerbank
Jun 29, 1989
—
Richard A Loricco
—
Deed Of Trust
related
$5,000,000 · Ct Natl Bk
Feb 27, 1987
—
Norman S Drubner
—
Deed Of Trust
related
$1,600,000 · Ct Natl Bk
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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