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Property profile & analytics
OFF-MARKET
Estimated value
$215,000
Commercial land
502 Berlin Tpke Berlin, CT 06037-1510
Entity Owned
13-yr Hold
Free & Clear
Property ID
US15-0856540
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1960
Total area
2,242 SF
Lot
2 ac (87,120 SF)
Zoning code
BT-1
APN
BERL M:10-2 B:83 L:13B U:7611
UPID
US15-0856540
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
$265k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$215k
Owner & transaction history
Ridgeview Berlin LLC · 13 yrs held
Ridgeview Berlin LLC
since 2013
2 recorded transactions
Zoning & alternative use
BT-1 · Berlin, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
Berlin Turnpike 1
General category
UNKNOWN
Zone area
305.67 ac
Source
Realmo
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 Berlin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berlin 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
$265,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$215k
Range $194k – $237k · ±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
$96 / 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
$5,315
Tax year 2023
Assessed value
$179,800
Assessed 2023
Previous assessed
$179,800
+0.0% YoY
Effective rate
2.96%
On assessed value
Assessed land
$179,800
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 land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1960
Heating
HOT WATER
Stories
1
Rooms
8
Bathrooms
2
Total area
2,242 SF
Lot
2 ac (87,120 SF)
Zoning code
BT-1
APN
BERL M:10-2 B:83 L:13B U:7611
UPID
US15-0856540
Jurisdiction
BERLIN
Zoning & alternative use
BT-1 · Berlin, CTZoning BT-1 · permitted uses
BT-1 · Berlin, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
Berlin Turnpike 1
General category
UNKNOWN
Zone area
305.67 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1960
Heating
HOT WATER
Stories
1
Rooms
8
Bathrooms
2
Lot
2 ac
Current owner
From public records · entity-resolved
Ridgeview Berlin LLC
Entity
Free & Clear · 13 yrs held
Mailing address
864 WETHERSFIELD AVE, HARTFORD, CT 06114-3184
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
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
May 31, 2013
—
Ridgeview Berlin LLC
Arthur R Godbout SR Lt
Quit Claim Deed
related
—
May 31, 2013
$2,500,000
550-554 Berlin Tpke Assoc
Ridgeview Berlin LLC
Quit Claim Deed
related
$1,750,000 · Peoples 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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