Mixed-Use Property with
For Sale
$750,000
763-767 Park Street, Hartford, CT 06106
Commercial For Sale, Hartford, CT
Property Size5,381 SF
Lot Size0.08 Acres
Price / SF$139.38
Days on Market234
Property Features for 763-767 Park Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MS-1
Bathrooms
7
Full bathrooms
6
Half bathrooms
1
Rooms
Bathroom 2, Bathroom 3, Bathroom 6, Bathroom 5, Bathroom 7, Bathroom 4, Bathroom 1
Lot features
Level Lot
Directions
GPS FRIENDLY
Subdivision
Parkville
Standard status
Active
Size
5,381 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
15291
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1925
Listing Agency:
Premier Properties of CT
(860) 756-0980
Listed By:
Carmen Valeria Palacios-Quintana
(860) 250-7880
Added: Jan 14
Changed: Aug 30
Last Checked: Sep 5 at 1:06AM
MLS# 24149116
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property at 763-767 Park Street comprises two buildings on a 0.08-acre lot, totaling 5,381 square feet. The 1925 front building contains two commercial storefronts and two upper-level apartments, including four bedrooms on the second floor and three bedrooms on the third. The sale includes the seller-operated laundromat with 10 washers and dryers, along with a jewelry storefront occupied by a tenant for over 20 years.
The rear building adds two residential apartments, each configured with two bedrooms, bringing the property to six units: two commercial and four residential. Separate entrances and independent utilities serve both buildings. Public water and public sewer are in place, with baseboard heating and window-unit cooling. The property is zoned MS-1 in Hartford, CT.
The rear building adds two residential apartments, each configured with two bedrooms, bringing the property to six units: two commercial and four residential. Separate entrances and independent utilities serve both buildings. Public water and public sewer are in place, with baseboard heating and window-unit cooling. The property is zoned MS-1 in Hartford, CT.
Key Highlights
- 5,381‑square‑foot mixed‑use property on a 0.08‑acre lot
- Six total units: 2 commercial and 4 residential
- Seller‑operated laundromat included with 10 washers and dryers
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$68,608
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,372,160
$1.4M
Cap Rate 7%
$980,114
$980.1K
Cap Rate 9%
$762,311
$762.3K
Market Conditions
NOI Build-Up for 5,381 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$129.1K $24.00/SF
− Vacancy
−$19.4K −$3.60/SF
EGI
$109.8K $20.40/SF
− OpEx
−$41.2K −$7.65/SF
NOI
$68.6K $12.75/SF
Area
Hartford, CT
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,372,160
Cap Rate 7%
$980,114
Cap Rate 9%
$762,311
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$907.5K – $1.21M
NOI $72,597 @ 7.0% cap · market cap 9.68%
Second Best
Mixed Use
$980.1K
$857.6K – $1.14M
NOI $68,608 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,275 @ 7.0% cap · market cap 14.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,223
Businesses Nearby
Explore this area
Business Placement
Demographics for 06106, CT
38,036
Population
16,938
Households
2.2
Avg Household Size
33
Median Age
17%
College-Educated
70%
High-School Grad
4.2 sq mi
ZIP Area
9,056
Density / Sq Mi
$47,542
Median Household Income
$31,395
Median Earnings
$1,237
Median Rent
$201,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings combine commercial storefronts with four residential apartments and independent utilities.
Where is this mixed-use property located?
The property is located at 763-767 Park Street Hartford, CT.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 5,381‑square‑foot mixed‑use property on a 0.08‑acre lot; Six total units: 2 commercial and 4 residential; Seller‑operated laundromat included with 10 washers and dryers
