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Property profile & analytics
FOR SALE
Retail properties & Spaces
359 Main St Southington, CT 06489
Individually Owned
18-yr Hold
Free & Clear
Property ID
US15-0785653
For Sale
1 / 5
Contact for pricing
359 Main St, Southington, CT 06489
View Listing →
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
2004
Total area
14,457 SF
Lot
1.95 ac (84,942 SF)
Zoning code
B
APN
SOUT M:088 L:010 U:0001
UPID
US15-0785653
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
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
-
FedEx OnSite Postal Service Courier Service
-
LibertyX Bitcoin ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.61M
Blend (final)
Blend
$1.60M
Owner & transaction history
Southington Town Of · 18 yrs held
Southington Town Of
since 2008
7 recorded transactions
Zoning & alternative use
B · Southington, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The business district is intended to provide suitable areas for business development appropriate to overall community and regional needs, the location and characteristics of the land, and the characteristics of the area
Zone name
Business
General category
COMMERCIAL
Zone area
1,044.05 ac
Source
Realmo
Top alternative use upside
Restaurant
$2.5M
+48.6%
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 Southington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Southington 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
$1,665,000
Current use
RESTAURANT
$2,470,000
Change: +49% · Conversion: Easy
OFFICE BUILDING
$1,595,000
Change: -4% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,450,000
Change: -13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,365,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.60M
Range $1.44M – $1.75M · ±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
$110 / 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
$83,048
Tax year 2023
Assessed value
$2,735,430
Assessed 2023
Previous assessed
$2,735,430
+0.0% YoY
Effective rate
3.04%
On assessed value
Assessed land
$147,420
Assessed improvement
$2,588,010
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
For Sale
Year built
2004
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
14,457 SF
Lot
1.95 ac (84,942 SF)
Zoning code
B
APN
SOUT M:088 L:010 U:0001
UPID
US15-0785653
Jurisdiction
SOUTHINGTON
Zoning & alternative use
B · Southington, CTZoning B · permitted uses
B · Southington, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The business district is intended to provide suitable areas for business development appropriate to overall community and regional needs, the location and characteristics of the land, and the characteristics of the area
Zone name
Business
General category
COMMERCIAL
Zone area
1,044.05 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.7M
RESTAURANT
Est. value
$2.5M
OFFICE BUILDING
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (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
2004
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
1.95 ac
Current owner
From public records · entity-resolved
Southington Town Of
Individual
Free & Clear · 18 yrs held
Mailing address
12 FITCH ST, NORWALK, CT 06855-1333
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2008
$150,000
Southington Town Of
Holmquist,peter W
Warranty Deed
—
Jan 31, 2008
$112,500
Southington Town Of
Scribner,phyllis H
Warranty Deed
—
Jan 31, 2008
$375,000
Southington Town Of
Holmquist Walter M Est
Grant Deed
—
Feb 8, 2007
$1
Southington Town Of
Bates,baldwin
Grant Deed
related
—
Jul 17, 2006
$1
Southington Town Of
Wight,alison M
Warranty Deed
—
Apr 11, 2005
$6,125,000
Cole Wg Sout Ct Dist
Jec Ct LP
Warranty Deed
$5,513,000 · Wachovia Bank NA
Dec 24, 2003
$1,050,000
Jec Connecticut LP
Southington Town Of
Warranty Deed
$4,737,000 · Zions First 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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