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Property profile & analytics
OFF-MARKET
Office Spaces
50 Progress Cir Newington, CT 06111-5551
Entity Owned
1-yr Hold
Free & Clear
Property ID
US15-0697337
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,600 SF
Zoning code
PD
APN
NEWI M:31 B:25 L:1A
UPID
US15-0697337
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
-
Newington Elementary Childrens Daycare Center
-
The Mead Agency, LLC Landscaping General Contractor
-
Allied Machining Co., Inc. Industrial Manufacturer
-
Luxe Event Venue Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Progress Properties LLC · 1 yrs held
Progress Properties LLC
since 2025
7 recorded transactions
Zoning & alternative use
PD · Newington, 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 Newington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newington 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,637
Tax year 2023
Assessed value
$94,820
Assessed 2023
Previous assessed
$94,820
+0.0% YoY
Effective rate
3.84%
On assessed value
Assessed improvement
$94,820
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Total area
1,600 SF
Zoning code
PD
APN
NEWI M:31 B:25 L:1A
UPID
US15-0697337
Jurisdiction
NEWINGTON
Zoning & alternative use
PD · Newington, CT
Zoning PD · permitted uses
PD · Newington, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newington. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Current owner
From public records · entity-resolved
Progress Properties LLC
Entity
Free & Clear · 1 yrs held
Mailing address
50 PROGRESS CIR STE 1B, NEWINGTON, CT 06111-5547
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 28, 2025
$265,000
Progress Properties LLC
Infinite Medspa LLC
Warranty Deed
—
Mar 25, 2024
—
Paula M Anderson
Jennifer Vallejo
Quitclaim Deed
related
—
Apr 22, 2022
$220,000
Infinite Medspa LLC
Bridge Communications INC
Warranty Deed
$209,000 · Miscellaneous Other
Aug 19, 2021
$220,000
Evalis Ortiz
Sarina G Brandao
Warranty Deed
$222,000 · Sarina L Griffo Brand
Aug 19, 2021
—
Evalis Ortiz
—
Deed
related
$435,000 · Sarina L Griffo Brand
Jan 25, 1990
$122,900
Eugene J Wipfler
Progress Business C
Grant Deed
$73,600 · United Bank & Trust Co
Jan 12, 1990
$408,000
Kellerin Assoc
Progress Business
Grant Deed
$408,000 · United Bank & Trust Co
Jun 9, 1989
$300,000
Progress Business Cen
Deb INC
Grant Deed
—
Nov 28, 1988
—
Deb INC
—
Deed Of Trust
related
$1,300,000 · Connecticut Bank & Trust
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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