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Property profile & analytics
OFF-MARKET
Estimated value
$1,090,000
Industrial properties
40 Progress Cir Newington, CT 06111-5531
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US15-0217822
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1986
Construction
STEEL FRAME
Total area
22,000 SF
Lot
2.19 ac (95,396 SF)
Zoning code
PD
APN
NEWI M:31 B:26 L:0
UPID
US15-0217822
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
-
Action Windows & Siding Construction Company
-
Max-Tek LLC Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.24M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$815k
Blend (final)
Blend
$1.09M
Owner & transaction history
Polamer Realty 40 LLC · 2 yrs held
Polamer Realty 40 LLC
since 2023
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
PD · Newington, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.7M
+39.3%
Warehouse, storage
$1.2M
+3.4%
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
$1,065,000
ML approach
$1,235,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,185,000
Current use
OFFICE BUILDING
$1,655,000
Change: +39% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,225,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$1.09M
Range $981k – $1.20M · ±10% · vs last sale $1.10M (Aug 31 2023)
Last sale anchor
$1.10M
Aug 31 2023
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
$50 / 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
$28,879
Tax year 2023
Assessed value
$752,840
Assessed 2023
Previous assessed
$752,840
+0.0% YoY
Effective rate
3.84%
On assessed value
Assessed land
$78,330
Assessed improvement
$674,510
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1986
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
22,000 SF
Lot
2.19 ac (95,396 SF)
Zoning code
PD
APN
NEWI M:31 B:26 L:0
UPID
US15-0217822
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.2M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1986
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
2.19 ac
Current owner
From public records · entity-resolved
Polamer Realty 40 LLC
Entity
Mailing address
105 ALTON BRKS WAY, NEW BRITAIN, CT 06053-3359
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2025
—
Polamer Realty 40 LLC
—
Deed
related
$10,000,000 · Nbt Bank National Association
Aug 31, 2023
—
Polamer Realty 40 LLC
Polamer Realty 40 LLC
Quit Claim Deed
related
$495,000 · Nbt Bank National Association
Aug 1, 2017
$1,100,000
Polamer Realty 40 LLC
Elie Holdings LLC
Warranty Deed
$880,000 · Bank Of America
Oct 21, 2008
$1,150,000
Elie Holdings LLC
Cit Small Business Corp
Warranty Deed
$1,120,200 · Worth Funding INC
Feb 7, 2008
$1,480,000
Cit Small Bus Lendin Corp
Chace,diane R
Grant Deed
—
Apr 6, 2001
$750,000
Kotovnikov Prop LLC
Prometheus Pharmacy Co
Grant Deed
$850,000 · Farmington Savings Bank
Jan 19, 1995
$850,000
Prometheus Pharmacy Co
A&a Rlty
Warranty Deed
$600,000 · Zenon Grzybowski
Oct 11, 1994
—
A Rlty
—
Deed Of Trust
related
$25,000 · Joanne T Gallicchio
Oct 26, 1992
—
A Realty
—
Deed Of Trust
related
$355,000 · Viola Tomm Tr
Mar 24, 1987
—
A Realty
—
Deed Of Trust
related
$375,000 · New Britain 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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