Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    70 Monroe St New Britain, CT 06051

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $499,900

    Three-unit property in New Britain with detached garage and parking.

    Lot size:
    0.17 Acres

    Property Features for 70 Monroe St

    General Information

    Lot size
    0.17 Acres

    Building Details

    Year built
    1925

    We can help!

    Listing Contact
    Michael H. Truong
    Source: Elliman

    Listing Agent: Michael H. Truong

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    New Britain Triplex Investment Opportunity

    Located in a desirable New Britain neighborhood, this three-family property at 70-72 Monroe St presents an investment opportunity with 4,100 square feet of living space. Each of the three units offers approximately 1,366 square feet, featuring 3 bedrooms and 1 bath. The building has vinyl siding and a roof in good condition. The property includes a 3-car detached garage with a new roof, siding, and doors installed in 2024, along with a paved parking lot accommodating 3 or more vehicles. Each unit has separate gas boilers, water heaters, and electric panels, plus an owner's panel. The property is located minutes from Costco, shopping, and Stanley Quarter Park, with quick access to Route 9 and Route 72. This property offers potential for both owner-occupied buyers and investors, with excellent cash flow potential in a strong rental market. Minor cosmetic work may boost value. The property is to be sold as-is.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Britain
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.7839758
    Latitude
    41.6562951

    Nearby Similar for Sale

    • New
      $459,900
      3,126 SF

      New Britain Three-Family House

      Well-maintained three-family house with spacious apartments and recent upgrades.
      15 Tremont St, New Britain, CT 06051
      View Details
    • $425,000
      2,284 SF

      Immaculate Two-Family Home in New Britain

      Well-maintained two-family property with expansion potential in New Britain.
      42 Prospect St, New Britain, CT 06051
      View Details
    • New
      $515,000
      3,348 SF

      Tenant-Occupied Three-Family Property

      Well-maintained, fully occupied 3-family property with spacious units in New Britain.
      67 Brooklawn St, New Britain, CT 06052
      View Details
    • New
      $374,999
      Pending

      Spacious 8-Bedroom New Britain Triplex

      Income-producing 3-family property near shopping, schools, and transportation.
      221 Fairview St, New Britain, CT 06051
      View Details
    • $450,000
      2,772 SF

      Two-Family Home with Spacious Units

      Classic two-family home with potential for a third unit.
      126 Winthrop St, New Britain, CT 06052
      View Details
    • $100,000
      3,060 SF

      Established Bar Business Opportunity

      Bar business for sale in downtown New Britain.
      168 Arch St, New Britain, CT 06051
      View Details
    • $60,000

      Turnkey Farm Store Opportunity

      Established Little Poland store with real estate and business included.
      166 Broad St, New Britain, CT 06053
      View Details
    • $299,800

      Renovated Two-Family Property in New Britain

      Fully renovated two-family property with recent updates, sold as-is.
      11 Dwight Ct, New Britain, CT 06051
      View Details
    • New
      $299,999
      1,752 SF

      Two-Family Home Near New Britain Library

      Charming two-family home with updated kitchens and bathrooms.
      44 Brook St, New Britain, CT 06051
      View Details
    • $334,900

      Updated Two-Family Home Near Downtown

      Updated two-family home near downtown New Britain and CCSU.
      14 Belden St, New Britain, CT 06051
      View Details
    • $420,000

      Updated Triplex in New Britain

      Updated 3-unit building with 7 bedrooms and fenced yard.
      15 Jubilee St, New Britain, CT 06051
      View Details
    • $499,000

      Multifamily Multiuse Property For Sale

      Multifamily property zoned for commercial and residential use.
      235 W Main St, New Britain, CT 06052
      View Details

    FAQs

    What type of property is this?
    Triplex - Three-unit property in New Britain with detached garage and parking.
    Where is this triplex located?
    The property is located at 70 Monroe St New Britain, CT.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: - Excellent cash flow potential and upside in a strong rental market.; - Three separate units, each with 3 bedrooms and 1 bath, totaling 4,100 SF of living space.; - Separate gas boilers, water heaters, and electric panels for each unit (plus owner's panel).
    (866) 828-3951
    Request Owner's contact information
    70 Monroe St New Britain, CT 06051
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    70 Monroe St
    New Britain, CT 06051
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    70 Monroe St New Britain, CT 06051
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michael H. Truong
    (866) 828-3951
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.