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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Retail properties & Spaces
979 Farmington Ave Berlin, CT 06037-2283
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US15-0505810
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,050 SF
Lot
0.42 ac (18,295 SF)
Zoning code
CCD-2
APN
BERL M:9-2 B:76 L:65
UPID
US15-0505810
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
-
New England Alliance Mortgage Loan Service Bank
-
Kern Mortgage Co., Inc. Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$555k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$574k
Blend (final)
Blend
$545k
Owner & transaction history
Kern Realty LLC · 5 yrs held
Kern Realty LLC
since 2021
Last sale
$525,000
5 recorded transactions
Zoning & alternative use
CCD-2 · Berlin, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$865,000
+48.6%
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 Berlin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berlin 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
$635,000
ML approach
$555,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$580,000
Current use
RESTAURANT
$865,000
Change: +49% · Conversion: Easy
OFFICE BUILDING
$555,000
Change: -4% · Conversion: Easy
AUTO REPAIR, GARAGE
$505,000
Change: -13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$475,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$545k
Range $491k – $600k · ±10% · vs last sale $525k (Mar 11 2021)
Last sale anchor
$525k
Mar 11 2021
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
$108 / 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
$12,530
Tax year 2023
Assessed value
$423,900
Assessed 2023
Previous assessed
$423,900
+0.0% YoY
Effective rate
2.96%
On assessed value
Assessed land
$91,700
Assessed improvement
$332,200
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
4
Total area
5,050 SF
Lot
0.42 ac (18,295 SF)
Zoning code
CCD-2
APN
BERL M:9-2 B:76 L:65
UPID
US15-0505810
Jurisdiction
BERLIN
Zoning & alternative use
CCD-2 · Berlin, CT
Zoning CCD-2 · permitted uses
CCD-2 · Berlin, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Berlin. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$580,000
RESTAURANT
Est. value
$865,000
OFFICE BUILDING
Est. value
$555,000
AUTO REPAIR, GARAGE
Est. value
$505,000
COMMERCIAL (GENERAL)
Est. value
$475,000
RETAIL STORES Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
4
Lot
0.42 ac
Current owner
From public records · entity-resolved
Kern Realty LLC
Entity
Mailing address
979 FARMINGTON AVE, BERLIN, CT 06037-2283
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 10, 2021
—
Kern Realty LLC
—
Deed
related
$5,780 · Berlin Town Of
Mar 11, 2021
$525,000
Kern Realty LLC
Cialfi Properties LLC
Warranty Deed
$472,500 · Liberty Bank
Jul 18, 2000
$45,000
Silvano Cialfi
Halkias,kathleen
Warranty Deed
$127,500 · Homeside Lending INC
Jun 3, 1993
$100,000
Michael Halkias
Bennardo,mario
Warranty Deed
—
Sep 20, 1991
$62,000
Silvano Cialfi
Kaley,julia
One Of Committee, Strict Foreclosure, Sheriff, Or Redemption Deeds
—
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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