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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Showrooms
42 Bank St New London, CT 06320-6053
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US15-1016631
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1789
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,253 SF
Lot
0.13 ac (5,547 SF)
APN
NLON M:G12 B:0108 L:0003
UPID
US15-1016631
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
$525k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$610k
Owner & transaction history
42 Bank Street LLC · 5 yrs held
42 Bank Street LLC
since 2020
Last sale
$650,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$585,000
+76.3%
Retail stores
$475,000
+43.2%
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 London submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New London 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
$620,000
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$585,000
Change: +76% · Conversion: Easy
RETAIL STORES
$475,000
Change: +43% · Conversion: Easy
Blend value · Realmo final
$610k
Range $549k – $671k · ±10% · vs last sale $650k (Nov 2 2020)
Last sale anchor
$650k
Nov 2 2020
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
$143 / 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
$10,233
Tax year 2023
Assessed value
$266,280
Assessed 2023
Previous assessed
$266,280
+0.0% YoY
Effective rate
3.84%
On assessed value
Assessed land
$113,750
Assessed improvement
$152,530
Applied tax rate
384.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1789
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Buildings
1
Stories
3
Units
2
Bathrooms
2
Total area
4,253 SF
Lot
0.13 ac (5,547 SF)
APN
NLON M:G12 B:0108 L:0003
UPID
US15-1016631
Jurisdiction
NEW LONDON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$585,000
RETAIL STORES
Est. value
$475,000
OFFICE BUILDING
RETAIL STORES
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
1789
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
3
Buildings
1
Units
2
Bathrooms
2
Lot
0.13 ac
Current owner
From public records · entity-resolved
42 Bank Street LLC
Entity
Mailing address
PO BOX 297, WATERFORD, CT 06385-0297
Ownership since
2020
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
Nov 2, 2020
$650,000
42 Bank Street LLC
Barry Neistat
Warranty Deed
$520,000 · Eastern Ct Savings Bank
Feb 28, 2013
—
Barry Neistat
—
Deed Of Trust
related
$155,000 · Chelseagroton Savings Bank
Mar 22, 2002
—
Barry Neistat
—
Deed Of Trust
related
$120,000 · Chelseagroton Savings Bank
Jun 2, 1992
$193,000
Barry Neistat
Neistat,ephraim L
Warranty Deed
related
$75,000 · Zenon Grzybowski
Mar 3, 1989
—
Ephraim L Neistat
—
Deed Of Trust
related
$124,000 · First New London Sla
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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