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Property profile & analytics
FOR LEASE
Office buildings
408 Highland Ave Cheshire, CT 06410
Individually Owned
9-yr Hold
~
Est. High Equity
Property ID
US15-0341804
For Lease
1 / 6
$610,000
408 Highland Ave, Cheshire, CT 06410
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1972
Construction
FRAME
Total area
6,882 SF
Lot
0.6 ac (26,136 SF)
Zoning code
R-20A
APN
CHES M:50305 B:2 L:
UPID
US15-0341804
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
-
Smirnoff Alan M Physician Medical Clinic
-
Amanda Kedzior Marriage Or Relationship Counselor
-
Miss Andrea Ciarlelli Marriage Or Relationship Counselor
-
Positive Outlooks: Therapeutic Connections, LLC Crisis Center Medical Clinic
-
Pathways to Clarity Crisis Center Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$628k
Blend (final)
Blend
$610k
Owner & transaction history
Cheshire Professional · 9 yrs held
Cheshire Professional
since 2016
6 recorded transactions
Zoning & alternative use
R-20A · Cheshire, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.0M
+31.7%
Commercial (general)
$775,000
+1.5%
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 Cheshire submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cheshire 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
OFFICE BUILDING
$765,000
Current use
RESTAURANT
$1,005,000
Change: +32% · Conversion: Moderate
COMMERCIAL (GENERAL)
$775,000
Change: +1% · Conversion: Easy
RETAIL STORES
$745,000
Change: -2% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$720,000
Change: -6% · Conversion: Easy
AUTO REPAIR, GARAGE
$625,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$89 / 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
$14,114
Tax year 2023
Assessed value
$402,210
Assessed 2023
Previous assessed
$402,210
+0.0% YoY
Effective rate
3.51%
On assessed value
Assessed land
$176,360
Assessed improvement
$225,850
Applied tax rate
322.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1972
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Bathrooms
4
Total area
6,882 SF
Lot
0.6 ac (26,136 SF)
Zoning code
R-20A
APN
CHES M:50305 B:2 L:
UPID
US15-0341804
Jurisdiction
CHESHIRE
Zoning & alternative use
R-20A · Cheshire, CT
Zoning R-20A · permitted uses
R-20A · Cheshire, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cheshire. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$765,000
RESTAURANT
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$775,000
RETAIL STORES
Est. value
$745,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$720,000
AUTO REPAIR, GARAGE
Est. value
$625,000
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Bathrooms
4
Lot
0.6 ac
Current owner
From public records · entity-resolved
Cheshire Professional
Individual
Mailing address
170 PANE RD, NEWINGTON, CT 06111-5521
Ownership since
2016
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
Aug 31, 2016
$2,000,000
Cheshire Professional
408 Highland Ave LLC
Warranty Deed
$1,500,000 · Collinsville Saving Society
Feb 1, 2013
$275,000
Daniel M Smith
Shay,michael W
Warranty Deed
$251,979 · Northpoint Mortgage
Jul 7, 2006
$1,426,100
408-426 Highland Ave LLC
Fazzone,james A
Warranty Deed
—
Jul 7, 2006
—
408-426 Highland Ave LLC
—
Deed Of Trust
related
$1,650,000 · Webster Bank
May 30, 2001
—
John A Zima
—
Deed Of Trust
related
$75,000 · Hudson United Bank
Oct 7, 1987
—
John A Zima
—
Deed Of Trust
related
$1,600,000 · American 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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