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Property profile & analytics
OFF-MARKET
Estimated value
$7,205,000
Showrooms
502 Main St Meriden, CT 06451
Individually Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US15-0371730
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1960
Construction
STEEL FRAME
Total area
151,071 SF
Lot
10.53 ac (458,508 SF)
Zoning code
C-2
APN
MERI M:621 B:193 L:55
UPID
US15-0371730
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
-
Centennial Plaza Shopping Center Shopping Center & Mall
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.27M
Blend (final)
Blend
$7.21M
Owner & transaction history
Dpm Meriden Self Storage · 5 yrs held
Dpm Meriden Self Storage
since 2021
2 recorded transactions
Zoning & alternative use
C-2 · Meriden, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$10.7M
+16.3%
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 Meriden submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Meriden 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
COMMERCIAL (GENERAL)
$9,190,000
Current use
INDUSTRIAL (GENERAL)
$10,685,000
Change: +16% · Conversion: Moderate
WAREHOUSE, STORAGE
$8,890,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$7.21M
Range $6.48M – $7.93M · ±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
$48 / 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
$215,323
Tax year 2024
Assessed value
$5,930,120
Assessed 2024
Previous assessed
$6,670,860
-11.1% YoY
Effective rate
3.63%
On assessed value
Assessed land
$999,110
Assessed improvement
$4,931,010
Applied tax rate
302.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1960
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
5
Total area
151,071 SF
Lot
10.53 ac (458,508 SF)
Zoning code
C-2
APN
MERI M:621 B:193 L:55
UPID
US15-0371730
Jurisdiction
MERIDEN
Zoning & alternative use
C-2 · Meriden, CT
Zoning C-2 · permitted uses
C-2 · Meriden, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Meriden. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$9.2M
INDUSTRIAL (GENERAL)
Est. value
$10.7M
WAREHOUSE, STORAGE
Est. value
$8.9M
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1960
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
5
Lot
10.53 ac
Current owner
From public records · entity-resolved
Dpm Meriden Self Storage
Individual
Mailing address
21800 BURBANK BLVD STE #350, WOODLAND HILLS, CA 91367-7463
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Jun 3, 2021
—
Dpm Meriden Self Storage
—
Deed
related
$9,400,000 · Guilford Savings Bank
Dec 10, 2010
—
Centennial Main LLC
—
Deed Of Trust
related
$4,500,000 · Farmington Savings 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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