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    Property profile & analytics

    607 Bank St, Unit 621 New London, CT 06320-5043

    • Investment properties
    • 0.35 lot acres
    OFF-MARKET
    Value Estimation
    $325,000
    Location Intelligence
    Property ID
    US15-0890235
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Greenleaf Farms New London CBD Shop / Store

    Property Details for 607 Bank St

    Lot size
    0.35 lot acres
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    NLON M:E14 B:0136 L:0020
    APU
    NLONME14B0136L0020

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $300,000

    • CAP approach

      CAP return
      Estimation
      6%
      $390,000
      6.5%
      $410,000
      7%
      $370,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $410,000
      Geo Method
      $380,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $300,000
      Retail
      $315,000
      Mixed-Use
      $395,000
      Hospitality
      $370,000
      Educational
      $330,000
      Residential Income
      $340,000
      Energy
      $310,000
      Income-Based Land
      $385,000
      Food Service
      $375,000

    Location Insight

    • Map
    • Local Demand
    City
    New London
    County
    New London
    State
    Connecticut
    Longitude
    -72.1032
    Latitude
    41.3501
    CBSA code
    35980
    CBSA name
    NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $19,985
    $101,500
    $418,530
    $520,030
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $155,000
      0.28 Acres

      267 Broad St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.28 Acres
      267 Broad St, New London, CT 06320-5229
      View Details
    • Value Estimation
      $65,000
      0.21 Acres

      79 Mtn Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 0.21 Acres
      79 Mtn Ave, New London, CT 06320-5623
      View Details
    • Value Estimation
      $225,000
      0.13 Acres

      11 Williams St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.13 Acres
      11 Williams St, New London, CT 06320-5219
      View Details
    • Value Estimation
      $250,000
      0.16 Acres

      23 Tilley St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.16 Acres
      23 Tilley St, New London, CT 06320-6026
      View Details
    • Value Estimation
      $285,000
      0.29 Acres

      353 Colman St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.29 Acres
      353 Colman St, New London, CT 06320-3623
      View Details
    • Value Estimation
      $290,000
      1.16 Acres

      1000 Bank St

      OFFICE/RESIDENTIAL (MIXED USE) • 1.16 Acres
      1000 Bank St, New London, CT 06320-2737
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Office Spaces Overlooking Shaw's Cove

      Multiple office spaces available for lease near Shaw's Cove Park.
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    • $2,500 /Mo
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      Downtown Commercial Unit For Lease

      Recently renovated 1,500 SF commercial unit in downtown New London.
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      Class B office building with suites available for lease.
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      View Details
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    607 Bank St, Unit 621
    New London, CT 06320-5043
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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