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Property profile & analytics
FOR LEASE
Showrooms
74 State St New London, CT 06320
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US15-0165443
For Lease
1 / 2
$675,000
74 State St, New London, CT 06320
View Listing →
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,844 SF
Lot
0.08 ac (3,615 SF)
APN
NLON M:G12 B:0142 L:0009
UPID
US15-0165443
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
-
Marquee Gallery (Bike/Boat/Book/etc) Store
-
Nina Chung Artist
-
Home - Bflashy Media Photography Service (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$675k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$675k
Owner & transaction history
Mmbk Associates 74 LLC · 1 yrs held
Mmbk Associates 74 LLC
since 2024
Last sale
$675,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$800,000
+76.3%
Retail stores
$650,000
+43.2%
Apartment house (5+ units)
$530,000
+16.8%
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
Method
Estimation
Statistic approach
$675,000
ML approach
$675,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$455,000
Current use
OFFICE BUILDING
$800,000
Change: +76% · Conversion: Easy
RETAIL STORES
$650,000
Change: +43% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$530,000
Change: +17% · Conversion: Moderate
Blend value · Realmo final
$675k
Range $608k – $743k · ±10% · vs last sale $675k (Sep 10 2024)
Last sale anchor
$675k
Sep 10 2024
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
$116 / 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
$7,501
Tax year 2024
Assessed value
$263,200
Assessed 2024
Previous assessed
$263,200
+0.0% YoY
Effective rate
2.85%
On assessed value
Assessed land
$75,200
Assessed improvement
$188,000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Lease
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Buildings
1
Stories
3
Units
5
Total area
5,844 SF
Lot
0.08 ac (3,615 SF)
APN
NLON M:G12 B:0142 L:0009
UPID
US15-0165443
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
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$455,000
OFFICE BUILDING
Est. value
$800,000
RETAIL STORES
Est. value
$650,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$530,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
3
Buildings
1
Units
5
Lot
0.08 ac
Current owner
From public records · entity-resolved
Mmbk Associates 74 LLC
Entity
Mailing address
74 STATE ST, NEW LONDON, CT 06320-6399
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 2024
$675,000
Mmbk Associates 74 LLC
Bank St Renaissance LLC
Warranty Deed
$875,000 · Jewett City Savings Bank
May 10, 2018
$400,000
Bank Street Renaissanc
Malerba Holdings LLC
Warranty Deed
$320,000 · Chelsea Groton Bank
Nov 21, 2011
$160,000
Malerba Holdings LLC
Mallove Realty Co
Warranty Deed
—
Sep 21, 2006
$125,000
Chelsea Groton Sb
Mallove Realty Co
Grant Deed
—
Apr 8, 1999
—
Mallove Rlty Co
—
Deed Of Trust
related
$50,000 · Liberty Bank
Feb 20, 1998
—
Mallove Rlty Co
—
Deed Of Trust
related
$30,000 · New London City
Feb 16, 1990
—
Mallove Realty Co
—
Deed Of Trust
related
$225,000 · Connecticut National 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.
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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