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Property profile & analytics
OFF-MARKET
Estimated value
$2,690,000
Industrial properties
950 Flanders Rd Mystic, CT 06355-1314
Entity Owned
33-yr Hold
Free & Clear
Property ID
US15-1043933
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1984
Total area
36,624 SF
Lot
11.05 ac (481,338 SF)
Zoning code
IM
APN
GROT M:260906485544
UPID
US15-1043933
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
-
Medtronic Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.95M
Blend (final)
Blend
$2.69M
Owner & transaction history
Merocel Corp · 33 yrs held
Merocel Corp
since 1992
6 recorded transactions
Zoning & alternative use
IM · Mystic, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.1M
+82.3%
Apartment house (5+ units)
$3.1M
+38.7%
Commercial (general)
$3.0M
+35.1%
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 Mystic submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mystic 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
INDUSTRIAL (GENERAL)
$2,240,000
Current use
RETAIL STORES
$4,080,000
Change: +82% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$3,105,000
Change: +39% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,025,000
Change: +35% · Conversion: Difficult
Blend value · Realmo final
$2.69M
Range $2.42M – $2.96M · ±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
$73 / 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
$57,250
Tax year 2023
Assessed value
$2,333,870
Assessed 2023
Previous assessed
$2,333,870
+0.0% YoY
Effective rate
2.45%
On assessed value
Assessed land
$848,260
Assessed improvement
$1,485,610
Applied tax rate
355.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1984
Heating
NONE
Buildings
2
Total area
36,624 SF
Lot
11.05 ac (481,338 SF)
Zoning code
IM
APN
GROT M:260906485544
UPID
US15-1043933
Jurisdiction
GROTON
Zoning & alternative use
IM · Mystic, CT
Zoning IM · permitted uses
IM · Mystic, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mystic. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.2M
RETAIL STORES
Est. value
$4.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$3.0M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1984
Heating
NONE
Buildings
2
Lot
11.05 ac
Current owner
From public records · entity-resolved
Merocel Corp
Entity
Free & Clear · 33 yrs held
Mailing address
950 FLANDERS RD, MYSTIC, CT 06355-1314
Ownership since
1992
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
Apr 18, 1994
—
Mero Cel Corp
—
Deed Of Trust
related
$24,574,468 · Bankboston Development Co LLC
Jul 21, 1992
$250,000
Merocel Corp
Sporran Assoc
Warranty Deed
—
Dec 31, 1990
$1,460,700
Merocel Corp
Barenholtz,george
Grant Deed
—
Aug 21, 1989
$300,000
Sparran Assoc
Sisisky,samuel
Grant Deed
$165,000 · New Haven Savings Bank
May 12, 1989
—
George Barenholtz
—
Deed Of Trust
related
$1,245,000 · Connecticut National Bank
Feb 11, 1988
$371,000
George Barenholtz
Korteweg,george
Grant Deed
—
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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