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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Apartment buildings
5 Ml Rd East Lyme, CT 06333-1183
Entity Owned
10-yr Hold
Absentee Owner
Property ID
US15-0757485
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1973
Construction
FRAME
Total area
5,460 SF
Lot
1.88 ac (82,048 SF)
Zoning code
CA
APN
ELYM M:030.2 B:00059 L:00000
UPID
US15-0757485
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
$624k
Blend (final)
Blend
$580k
Owner & transaction history
Mapatt LLC · 10 yrs held
Mapatt LLC
since 2015
7 recorded transactions
Zoning & alternative use
CA · East Lyme, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
20.25 RESTAURANT OUTDOOR DINING IN CA AND CB ZONES- The purpose of this section is to promote and regulate Outdoor Dining. Outdoor dining shall be permitted outright subject to compliance with Section 20.25 and approval by the Zoning Official. Such dining shall be subject to a Special Permit for establishments that serve alcoholic beverages (see Section 25 “…
Zone name
Commercial
General category
COMMERCIAL
Zone area
687.78 ac
Top alternative use upside
Office building
$750,000
+61.9%
Retail stores
$610,000
+31.5%
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 East Lyme submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East Lyme 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)
$465,000
Current use
OFFICE BUILDING
$750,000
Change: +62% · Conversion: Moderate
RETAIL STORES
$610,000
Change: +31% · Conversion: Difficult
COMMERCIAL (GENERAL)
$450,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$106 / 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
$10,822
Tax year 2024
Assessed value
$410,690
Assessed 2024
Previous assessed
$410,690
+0.0% YoY
Effective rate
2.64%
On assessed value
Assessed land
$103,250
Assessed improvement
$307,440
Applied tax rate
352.0000
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
1973
Construction
FRAME
Heating
BASEBOARD
Cooling
YES
Buildings
1
Stories
2
Units
8
Bathrooms
8
Total area
5,460 SF
Lot
1.88 ac (82,048 SF)
Zoning code
CA
APN
ELYM M:030.2 B:00059 L:00000
UPID
US15-0757485
Jurisdiction
EAST LYME
Zoning & alternative use
CA · East Lyme, CTZoning CA · permitted uses
CA · East Lyme, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
20.25 RESTAURANT OUTDOOR DINING IN CA AND CB ZONES- The purpose of this section is to promote and regulate Outdoor Dining. Outdoor dining shall be permitted outright subject to compliance with Section 20.25 and approval by the Zoning Official. Such dining shall be subject to a Special Permit for establishments that serve alcoholic beverages (see Section 25 “Special Permits”) A standard fast-food restaurant, may, as an accessory use, provide outdoor dining subject to the following standards: A. Applicant shall submit a site plan to the Zoning Official for administrative review and the Zoning Commission for Special Permit Applications. B. 1. The area subject to such dining may shall not exceed one thousand square
Zone name
Commercial
General category
COMMERCIAL
Zone area
687.78 ac
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$465,000
OFFICE BUILDING
Est. value
$750,000
RETAIL STORES
Est. value
$610,000
COMMERCIAL (GENERAL)
Est. value
$450,000
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
1973
Construction
FRAME
Heating
BASEBOARD
Cooling
Yes
Stories
2
Buildings
1
Units
8
Bathrooms
8
Lot
1.88 ac
Current owner
From public records · entity-resolved
Mapatt LLC
Entity
Mailing address
229 W MAIN ST, NIANTIC, CT 06357-1016
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
24 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2015
$315,000
Mapatt LLC
L & L INC Of Salem
Warranty Deed
$236,250 · Savings Institute
Jul 26, 2004
—
Mark Scaplen
—
Deed Of Trust
related
$90,000 · Flagstar Bank Fsb
Dec 9, 2002
—
Sean D Dickerson
—
Deed Of Trust
related
$62,000 · Peoples Bank
May 15, 2002
—
Cosmos Gakopoulos
—
Deed Of Trust
related
$35,000 · Champion Mortgage Co INC
Mar 2, 2001
—
Cosmos Gakopoulos
—
Deed Of Trust
related
$10,000 · Champion Mortgage Co INC
Nov 15, 2000
$51,000
Miles Berg
Norwest Bk
Grant Deed
$52,500 · Chase Manhattan Mortgage Corp
Oct 27, 2000
$71,000
Theresa Cormier
Tsuji,munehiro
Warranty Deed
$57,500 · Citizens Mortgage INC
Jul 25, 2000
—
Lisa J Webb
—
Deed Of Trust
related
$44,500 · Dime Savings Bank Norwich
Jun 19, 2000
—
Jeffrey M Tanguay
—
Deed Of Trust
related
$18,537 · Citifinancial INC
Aug 30, 1999
—
Lisa J Webb
—
Deed Of Trust
related
$45,000 · First Union Mortgage
Jan 4, 1999
—
Lisa J Webb
—
Deed Of Trust
related
$28,922 · Commercial Credit Corp
Jun 2, 1998
$58,000
Ann M Lafountaine
Smith,wesley E
Warranty Deed
$55,100 · Ctx Mortgage Co
May 8, 1998
$299,900
L Const
Filosi Donald L Est
Grant Deed
—
Dec 30, 1997
$53,000
Mark Scaplen
Swenson,carleton K
Warranty Deed
$51,600 · Mccue Mortgage Co
Aug 1, 1997
—
Jeffrey M Tanguay
—
Deed Of Trust
related
$54,800 · Community Home Mortgage
Mar 11, 1997
—
Thomas J Presley
—
Deed Of Trust
related
$45,400 · American Home Funding
Nov 26, 1996
$56,900
Thomas J Presley
Filosi Donald L Est
Grant Deed
$45,400 · American Home Funding
Sep 12, 1996
$57,900
Munehiro Tsuji
Morrison,robert K
Warranty Deed
$55,000 · Centerbank Mtg Co
May 25, 1993
$52,500
Sheng Po Chen
Perry,madeline M
Warranty Deed
$47,250 · Norwest Mortgage INC
Jun 29, 1990
$86,000
Carradine Mcalpine
Paulin,clement
Grant Deed
$81,200 · Mccue Mortgage Co
May 29, 1990
—
Wendy Saunders
—
Deed Of Trust
related
$72,000 · New Fijol Ft
Apr 30, 1990
$85,000
Sargit Rattan
Duffy,ellen
Grant Deed
$68,000 · New Fijol Ft
Dec 8, 1989
—
Donald Filosi
—
Deed Of Trust
related
$100,000 · Chelseagroton Savings Bank
Apr 24, 1987
—
Donald Filosi
—
Deed Of Trust
related
$60,000 · 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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