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Property profile & analytics
OFF-MARKET
Estimated value
$11,995,000
Showrooms
3465 Berlin Tpke, Newington, CT 06111-5106
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US15-0989059
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
133,290 SF
Lot
11.64 ac (507,038 SF)
Zoning code
PD
APN
NEWI M:31 B:37 L:5
UPID
US15-0989059
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
-
Sam's Club Hearing Aid Center Hearing Aid Store
-
Sam's Club Bakery Bakery Specialty Food Shop
-
Sam's Club Gas Station Gas Station
-
Sam's Club Cafe Cafe & Coffee Shop
-
Lucid Hearing Center Hearing Aid Store Audiologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.65M
Blend (final)
Blend
$12.00M
Owner & transaction history
Ireit Newington Fair LLC · 13 yrs held
Ireit Newington Fair LLC
since 2012
6 recorded transactions
Zoning & alternative use
PD · Newington, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$13.5M
+15.5%
Auto repair, garage
$11.9M
+2.4%
Apartment house (5+ units)
$11.7M
+0.0%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$11,660,000
Current use
RETAIL STORES
$13,465,000
Change: +16% · Conversion: Easy
AUTO REPAIR, GARAGE
$11,940,000
Change: +2% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$11,660,000
Change: +0% · Conversion: Moderate
OFFICE BUILDING
$10,015,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$12.00M
Range $10.80M – $13.19M · ±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
$90 / 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
$375,928
Tax year 2023
Assessed value
$9,800,000
Assessed 2023
Previous assessed
$9,800,000
+0.0% YoY
Effective rate
3.84%
On assessed value
Assessed land
$1,957,200
Assessed improvement
$7,842,800
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Total area
133,290 SF
Lot
11.64 ac (507,038 SF)
Zoning code
PD
APN
NEWI M:31 B:37 L:5
UPID
US15-0989059
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
COMMERCIAL (GENERAL) Current
Est. value
$11.7M
RETAIL STORES
Est. value
$13.5M
AUTO REPAIR, GARAGE
Est. value
$11.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$11.7M
OFFICE BUILDING
Est. value
$10.0M
COMMERCIAL (GENERAL) Current
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
11.64 ac
Current owner
From public records · entity-resolved
Ireit Newington Fair LLC
Entity
Mailing address
PO BOX 3666, OAK BROOK, IL 60522-3666
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2012
$17,500,000
Ireit Newington Fair LLC
Newington Berlin Retail
Warranty Deed
$15,130,000 · Zions First National Bank
Apr 19, 2007
$2,000,000
Newington Berlin Ret LLC
Rk Newington LLC
Warranty Deed
—
Apr 19, 2007
$1
Newington Berlin Ret LLC
Newington Berlin Ret LLC
Grant Deed
related
—
Sep 7, 2001
$250,000
Rk Newington LLC
Caldor Corp
Grant Deed
—
Apr 8, 1993
—
Caldor INC
—
Deed Of Trust
related
$8,500,000 · Fleet Mortgage Corp
Apr 1, 1992
$5,250,000
Caldor INC
Fbh Assoc LP
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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