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Property profile & analytics
OFF-MARKET
Estimated value
$760,000
Industrial properties
98 Commerce St Glastonbury, CT 06033-2313
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US15-0990438
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
16,637 SF
Lot
1.97 ac (85,813 SF)
Zoning code
PI
APN
GLAS M:E6 B:1320 L:S0001H
UPID
US15-0990438
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
-
mega mechanical services, llc - hvac heating, air conditioning, ventilation serving connecticut Hardware & Home Improvement HVAC Service
-
Leo Tolstoy College of Literature College
-
Fearless Fitness Glastonbury Physician
-
Mega Mechanical Services, LLC Construction Company General Contractor
-
Backbeat City Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$485k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$707k
Blend (final)
Blend
$760k
Owner & transaction history
Grigas Fmly Hldgs LLC · 15 yrs held
Grigas Fmly Hldgs LLC
since 2011
5 recorded transactions
Zoning & alternative use
PI · Glastonbury, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Glastonbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Glastonbury 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
$485,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,155,000
Current use
WAREHOUSE, STORAGE
$930,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$760k
Range $684k – $836k · ±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
$46 / 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
$26,761
Tax year 2024
Assessed value
$838,100
Assessed 2024
Previous assessed
$838,100
+0.0% YoY
Effective rate
3.19%
On assessed value
Assessed land
$385,800
Assessed improvement
$452,300
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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
16,637 SF
Lot
1.97 ac (85,813 SF)
Zoning code
PI
APN
GLAS M:E6 B:1320 L:S0001H
UPID
US15-0990438
Jurisdiction
GLASTONBURY
Zoning & alternative use
PI · Glastonbury, CT
Zoning PI · permitted uses
PI · Glastonbury, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Glastonbury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$930,000
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
1.97 ac
Current owner
From public records · entity-resolved
Grigas Fmly Hldgs LLC
Entity
Mailing address
98 COMMERCE ST, GLASTONBURY, CT 06033-2313
Ownership since
2011
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 6, 2019
—
Grigas Fam Hldgs
—
Deed
related
$800,000 · Keybank USA
Apr 29, 2011
$790,000
Grigas Fmly Hldgs LLC
Philip Mackler
Warranty Deed
$632,000 · Td Bank NA
Feb 26, 2004
—
Philip Mackler
—
Deed Of Trust
related
$696,000 · Banknorth NA
Dec 30, 1988
$595,000
Philip Mackler
Milazzo,salvatore G
Grant Deed
$40,000 · Connecticut Bank & Trust
—
—
Grigas Fam Hldgs
—
Deed Of Trust
related
$800,000 · Keybank USA
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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