Versatile Commercial Property, High
For Sale
$549,900
Pending
110 Main Street, East Hartford, CT 06118
Income-producing property with high visibility and development potential.
Property Size2,922 SF
Lot Size0.70 Acres
Days on Market150
Property Features for 110 Main Street
General Information
Standard status
Pending
Size
2,922 SF
Lot size
0.70 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,523
Amenities
Asphalt Shingle Roof
Hot Water Heating
Level Lot
Off Street Parking
Parking Lot
Building Details
Year Built
1875
Listing Agency:
eXp Realty
(866) 828-3951
Listed By:
MICHAEL TRUONG · License #RES.0794690
Source:
Corcoran
Added: Mar 23
Changed: Aug 8
Last Checked: Jul 23 at 6:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty
Investment Insights
Based on property information with market context.
Located on Main St in East Hartford, this commercial property offers an investment and business opportunity along a high visibility corridor. The property is zoned commercial, supporting a range of uses including office, retail, residential income, or professional services such as medical, legal, accounting, insurance, or real estate. Currently, the property is configured as a high performing income property, featuring 3 separate rental units operating as a rooming house with a total of 6 bedrooms, 3 kitchens, and 3 full bathrooms. The property has a strong NOI of $49,278 and a 9% cap rate. Extensively updated in 2023, the 2,922 square foot property offers modernized interiors while maintaining flexible layout options to suit both investors and owner-users. The property benefits from exceptional exposure with very high daily traffic counts, ideal for business front signage and visibility. A private parking lot with approximately 20 spaces adds convenience for tenants, clients, and customers. Located just minutes from downtown Hartford, with easy access to I-84, I-91, and Rt-2, this property offers accessibility and strategic positioning.
Key Highlights
- High‑performing income property with a strong NOI of $49,278 and a 9% cap rate, offering immediate cash flow.
- Prime commercial zoning allows for a wide range of uses: office, retail, residential income, or professional services.
- Exceptional exposure with very high daily traffic counts, ideal for business visibility and signage.
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
$45,325
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
8.24%
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%
$906,500
$906.5K
Cap Rate 7%
$647,500
$647.5K
Cap Rate 9%
$503,611
$503.6K
Market Conditions
NOI Build-Up for 2,922 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
$78.9K $27.00/SF
− Vacancy
−$18.5K −$6.32/SF
EGI
$60.4K $20.68/SF
− OpEx
−$15.1K −$5.17/SF
NOI
$45.3K $15.51/SF
Area
Hartford, CT
Vacancy
23.40%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
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%
$906,500
Cap Rate 7%
$647,500
Cap Rate 9%
$503,611
Alternative Uses
Best Use
Office B
$647.5K
$566.6K – $755.4K
NOI $45,325 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$563.2K
$492.8K – $657.0K
NOI $39,422 @ 7.0% cap · market cap 7.17%
Theoretical Best
Office A
$871.0K
$762.1K – $1.02M
NOI $60,968 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,397
Businesses Nearby
Explore this area
Business Placement
Demographics for 06118, CT
26,844
Population
11,656
Households
2.3
Avg Household Size
41
Median Age
19%
College-Educated
89%
High-School Grad
9.9 sq mi
ZIP Area
2,712
Density / Sq Mi
$75,523
Median Household Income
$40,595
Median Earnings
$1,259
Median Rent
$213,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-producing property with high visibility and development potential.
Where is this mixed-use property located?
The property is located at 110 Main Street East Hartford, CT.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: High‑performing income property with a strong NOI of $49,278 and a 9% cap rate, offering immediate cash flow.; Prime commercial zoning allows for a wide range of uses: office, retail, residential income, or professional services.; Exceptional exposure with very high daily traffic counts, ideal for business visibility and signage.
