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Property profile & analytics
OFF-MARKET
Estimated value
$2,335,000
Office buildings
751 Straits Tpke Middlebury, CT 06762-2860
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US15-0293995
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Construction
STEEL FRAME
Total area
20,978 SF
Lot
1.4 ac (60,984 SF)
Zoning code
CA40
APN
MIDD M:4-06 L:416
UPID
US15-0293995
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
-
Alexa Gorman Insurance Agency
-
Prudential Insurance Agency
-
Liberty Mutual Insurance -Joseph Finke Insurance Agency
-
Cristina Kenney Insurance Agency
-
James McKeever Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.27M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.47M
Blend (final)
Blend
$2.34M
Owner & transaction history
Straits Office 751 LLC · 3 yrs held
Straits Office 751 LLC
since 2022
Last sale
$2.4M
6 recorded transactions
Zoning & alternative use
CA40 · Middlebury, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.1M
+79.5%
Apartment house (5+ units)
$2.1M
+21.1%
Auto repair, garage
$1.9M
+11.4%
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 Middlebury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middlebury 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
$2,270,000
ML approach
$2,270,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,710,000
Current use
RESTAURANT
$3,070,000
Change: +80% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,070,000
Change: +21% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,905,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$1,700,000
Change: 0% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,460,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$2.34M
Range $2.10M – $2.57M · ±10% · vs last sale $2.40M (Dec 15 2022)
Last sale anchor
$2.40M
Dec 15 2022
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
$111 / 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
$49,032
Tax year 2023
Assessed value
$1,519,900
Assessed 2023
Previous assessed
$1,519,900
+0.0% YoY
Effective rate
3.23%
On assessed value
Assessed land
$398,900
Assessed improvement
$1,121,000
Applied tax rate
332.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1999
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Units
4
Bathrooms
1
Total area
20,978 SF
Lot
1.4 ac (60,984 SF)
Zoning code
CA40
APN
MIDD M:4-06 L:416
UPID
US15-0293995
Jurisdiction
MIDDLEBURY
Zoning & alternative use
CA40 · Middlebury, CT
Zoning CA40 · permitted uses
CA40 · Middlebury, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Middlebury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.7M
RESTAURANT
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.9M
RETAIL STORES
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.5M
OFFICE BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
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
1999
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Units
4
Bathrooms
1
Lot
1.4 ac
Current owner
From public records · entity-resolved
Straits Office 751 LLC
Entity
Mailing address
751 STRAITS TPKE, MIDDLEBURY, CT 06762-2860
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2022
$2,400,000
Straits Office 751 LLC
751 Straits Turnpike LLC
Warranty Deed
$1,920,000 · Torrington Savings Bank
Aug 10, 2016
—
751 Straits Turnpike LLC
Middlebury Realty Assoc
Quit Claim Deed
related
—
May 8, 2012
—
751 Straits Turnpike
—
Deed Of Trust
related
$1,000,000 · Naugatuck Savings Bank
Nov 16, 2005
$3,050,000
751 Straits Turnpike
Corss Road West LLC
Warranty Deed
—
Aug 7, 2001
—
Crossroads West
—
Deed Of Trust
related
$2,475,000 · Gmac Mortgage Corp Pa
Feb 10, 2000
$950,000
Crossroads West
Crossrds At Middlebury
Warranty Deed
related
$5,902,000 · First Union 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.
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