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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Residential income homes
887 Hanover Rd Meriden, CT 06451-5281
Entity Owned
10-yr Hold
Property ID
US15-1319743
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1860
Total area
6,853 SF
Lot
0.87 ac (37,897 SF)
Zoning code
R-2
APN
MERI M:705 B:224 L:29C
UPID
US15-1319743
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$654k
Blend (final)
Blend
$615k
Owner & transaction history
Quest Holdings LLC · 10 yrs held
Quest Holdings LLC
since 2015
3 recorded transactions
Zoning & alternative use
R-2 · Meriden, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.0M
+64.1%
Office building
$765,000
+25.6%
Retail stores
$745,000
+21.8%
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 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
APARTMENT HOUSE (5+ UNITS)
$610,000
Current use
RESTAURANT
$1,000,000
Change: +64% · Conversion: Difficult
OFFICE BUILDING
$765,000
Change: +26% · Conversion: Moderate
RETAIL STORES
$745,000
Change: +22% · Conversion: Difficult
AUTO REPAIR, GARAGE
$620,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$615k
Range $554k – $677k · ±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
$90 / 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
$14,254
Tax year 2024
Assessed value
$392,560
Assessed 2024
Previous assessed
$392,560
+0.0% YoY
Effective rate
3.63%
On assessed value
Assessed land
$71,400
Assessed improvement
$321,160
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1860
Heating
HOT WATER
Buildings
1
Stories
3
Units
4
Rooms
22
Bathrooms
4
Total area
6,853 SF
Lot
0.87 ac (37,897 SF)
Zoning code
R-2
APN
MERI M:705 B:224 L:29C
UPID
US15-1319743
Jurisdiction
MERIDEN
Zoning & alternative use
R-2 · Meriden, CT
Zoning R-2 · permitted uses
R-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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$610,000
RESTAURANT
Est. value
$1.0M
OFFICE BUILDING
Est. value
$765,000
RETAIL STORES
Est. value
$745,000
AUTO REPAIR, GARAGE
Est. value
$620,000
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
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
1860
Heating
HOT WATER
Stories
3
Buildings
1
Units
4
Rooms
22
Bathrooms
4
Lot
0.87 ac
Current owner
From public records · entity-resolved
Quest Holdings LLC
Entity
Mailing address
887 HANOVER RD, MERIDEN, CT 06451-5281
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 25, 2015
$260,000
Quest Holdings LLC
Morrissey Anna H
Executors Deed
$156,000 · Ion Bank
Apr 30, 2010
—
James Morrissey
—
Deed Of Trust
related
$201,000 · Webster Bank
Aug 17, 1994
$226,000
James Morrissey
Bartis,thomas John
Warranty Deed
$158,200 · Webster 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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