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Property profile & analytics
OFF-MARKET
Estimated value
$1,240,000
Commercial real estate
48 Main St Mystic, CT 06355-3510
Entity Owned
3-yr Hold
Free & Clear
Property ID
US15-0621862
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1915
Total area
1,525 SF
Lot
0.11 ac (4,792 SF)
Zoning code
MDD
APN
GROT M:261918308935
UPID
US15-0621862
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
-
Finer Line Gallery Art Gallery
-
Framers of the Lost Art (Bike/Boat/Book/etc) Store Home Decor Store
-
Artware Store Art Gallery Art Supply Store
-
Betsy Barry Art & Designs Artist Service Establishment
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.23M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.24M
Owner & transaction history
48-50 West Main St LLC · 3 yrs held
48-50 West Main St LLC
since 2022
Last sale
$1.3M
4 recorded transactions
Zoning & alternative use
MDD · Mystic, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Mystic submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mystic 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
$1,175,000
ML approach
$1,230,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.24M
Range $1.12M – $1.36M · ±10% · vs last sale $1.28M (Aug 3 2022)
Last sale anchor
$1.28M
Aug 3 2022
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
$813 / 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
$10,693
Tax year 2023
Assessed value
$439,950
Assessed 2023
Previous assessed
$439,950
+0.0% YoY
Effective rate
2.43%
On assessed value
Assessed land
$248,710
Assessed improvement
$191,240
Applied tax rate
355.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1915
Heating
NONE
Buildings
2
Total area
1,525 SF
Lot
0.11 ac (4,792 SF)
Zoning code
MDD
APN
GROT M:261918308935
UPID
US15-0621862
Jurisdiction
GROTON
Zoning & alternative use
MDD · Mystic, CT
Zoning MDD · permitted uses
MDD · Mystic, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mystic. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1915
Heating
NONE
Buildings
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
48-50 West Main St LLC
Entity
Free & Clear · 3 yrs held
Mailing address
48 W MAIN ST, MYSTIC, CT 06355-3510
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 3, 2022
—
48-50 West Main St LLC
Nigrelli Mystic LLP
Quit Claim Deed
—
Aug 3, 2022
$1,280,000
48-50 West Main St LLC
Nigrelli Mystic LLP
Warranty Deed
—
Mar 30, 2022
—
Nigrelli Mystic LLP
Madeline R Joy
Quit Claim Deed
related
—
Jun 18, 2019
—
Risica Ft Trust
John J
Trustees Deed
—
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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