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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Apartment buildings
48 Granite St New London, CT 06320-5979
Individually Owned
36-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US15-0228366
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1847
Total area
5,021 SF
Lot
0.13 ac (5,583 SF)
APN
NLON M:F10 B:0213 L:0002
UPID
US15-0228366
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$555k
Blend (final)
Blend
$525k
Owner & transaction history
George Boyer · 36 yrs held
George Boyer
since 1989
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$690,000
+51.0%
Retail stores
$560,000
+22.6%
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 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
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
APARTMENT HOUSE (5+ UNITS)
$455,000
Current use
OFFICE BUILDING
$690,000
Change: +51% · Conversion: Moderate
RETAIL STORES
$560,000
Change: +23% · Conversion: Difficult
COMMERCIAL (GENERAL)
$390,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$105 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$13,558
Tax year 2024
Assessed value
$493,000
Assessed 2024
Previous assessed
$493,000
+0.0% YoY
Effective rate
2.75%
On assessed value
Assessed land
$74,600
Assessed improvement
$418,400
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1847
Heating
HOT WATER
Buildings
1
Stories
3
Units
9
Bathrooms
2
Total area
5,021 SF
Lot
0.13 ac (5,583 SF)
APN
NLON M:F10 B:0213 L:0002
UPID
US15-0228366
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$455,000
OFFICE BUILDING
Est. value
$690,000
RETAIL STORES
Est. value
$560,000
COMMERCIAL (GENERAL)
Est. value
$390,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
RETAIL STORES
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
1847
Heating
HOT WATER
Stories
3
Buildings
1
Units
9
Bathrooms
2
Lot
0.13 ac
Current owner
From public records · entity-resolved
George Boyer
Individual
Mailing address
94 BROAD ST, NEW LONDON, CT 06320-5972
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1989
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 1989
—
George Boyer
—
Deed Of Trust
related
$83,333 · Bank Of East Hartford
Apr 20, 1987
—
George K Boyer
—
Deed Of Trust
related
$259,000 · Coastal 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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