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Property profile & analytics
OFF-MARKET
Investment properties
607 Bank St 621, New London, CT 06320-5043
Entity Owned
26-yr Hold
Property ID
US15-0890235
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Lot
0.35 ac (15,183 SF)
APN
NLON M:E14 B:0136 L:0020
UPID
US15-0890235
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
-
Greenleaf Farms New London CBD Shop Department Store
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
Edworks LLC · 26 yrs held
Edworks LLC
since 1999
7 recorded transactions
Zoning & alternative use
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 New London submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New London 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
$19,985
Tax year 2023
Assessed value
$520,030
Assessed 2023
Previous assessed
$520,030
+0.0% YoY
Effective rate
3.84%
On assessed value
Assessed land
$101,500
Assessed improvement
$418,530
Applied tax rate
384.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Heating
NONE
Buildings
2
Units
11
Lot
0.35 ac (15,183 SF)
APN
NLON M:E14 B:0136 L:0020
UPID
US15-0890235
Jurisdiction
NEW LONDON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Heating
NONE
Buildings
2
Units
11
Lot
0.35 ac
Current owner
From public records · entity-resolved
Edworks LLC
Entity
Mailing address
613 BANK ST, NEW LONDON, CT 06320-5043
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2024
—
Edworks LLC
—
Deed
related
$500,000 · Charter Oak FCU
Dec 10, 2013
—
Edworks LLC
—
Deed Of Trust
related
$500,000 · Peoples Bank
Aug 8, 2003
—
Edworks LLC
—
Deed Of Trust
related
$350,000 · Peoples Bank
Jul 16, 1999
$366,000
Edworks LLC
Jenns Co
Warranty Deed
$266,250 · Citizens Mortgage INC
Mar 30, 1998
$250,000
Jenns Co LLC
Ocwen Fedl Bk Fsb
Grant Deed
—
Mar 30, 1998
—
Jenns Co LLC
—
Deed Of Trust
related
$200,000 · Chelseagroton Savings Bank
Mar 31, 1993
—
Carlo Polimeni
—
Deed Of Trust
related
$334,200 · Farm & Merchant Savings Bank
Feb 10, 1989
—
Joseph Polimeni
—
Deed Of Trust
related
$325,000 · Farm & Merchant Savings Bank
Jun 9, 1988
—
Karen A Polimeni
—
Deed Of Trust
related
$100,000 · Farm & Merchant Savings Bank
Dec 9, 1987
—
Karen A Polimeni
—
Deed Of Trust
related
$375,000 · Farm & Merchant Savings Bank
Apr 16, 1987
$183,000
Karen A Polimeni
Littman,stella G
Grant Deed
$275,000 · Farm & Merchant 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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