West Hartford Tenanted Office
For Sale
Contact for pricing
1216 Farmington Ave, West Hartford, CT
Fully tenanted office building near West Hartford Center.
Property Size11,345 SF
Lot Size3.49 Acres
Price / SF$174.97
Days on Market427
Property Features for 1216 Farmington Ave
General Information
Standard status
Active
Size
11,345 SF
Lot size
3.49 Acres
Property subtype
OFFICE
Listing Agency:
Colliers - Hartford
(860) 249-6521
Listed By:
Sean Kumnick · License #RES.0812875
(860) 616-4025
Source:
Moodyscre
Added: Jul 9, 2025
Changed: Sep 6
Last Checked: Sep 7 at 10:00AM
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 Colliers - Hartford
Investment Insights
Based on property information with market context.
Located approximately one mile from West Hartford Center, the property at 1216 Farmington Avenue is a fully tenanted office building. It is situated on a site of approximately 3.47 acres with SD zoning. The building offers a variety of office spaces and leases. Current tenants include Hartford Dental Associates, Hopewell Health Solutions, Solinsky Hearing Center, Onyx Elite Consulting, and others. The location offers high visibility with a traffic count of 16,148 vehicles per day at the intersection of Farmington Avenue and Old Mill Lane. Building financials are available with a signed confidentiality agreement. The property may serve as both a stable investment and a covered land play on the corner of one of West Hartford’s busiest intersections. The building size is 11,345 square feet.
Key Highlights
- Prime location just one mile from West Hartford Center.
- High visibility at a busy intersection.
- Stable investment opportunity with fully tenanted office spaces.
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
$175,978
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
8.87%
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%
$3,519,560
$3.5M
Cap Rate 7%
$2,513,971
$2.5M
Cap Rate 9%
$1,955,311
$2.0M
Market Conditions
NOI Build-Up for 11,345 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
$306.3K $27.00/SF
− Vacancy
−$71.7K −$6.32/SF
EGI
$234.6K $20.68/SF
− OpEx
−$58.7K −$5.17/SF
NOI
$176.0K $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%
$3,519,560
Cap Rate 7%
$2,513,971
Cap Rate 9%
$1,955,311
Alternative Uses
Best Use
Office B
$2.51M
$2.20M – $2.93M
NOI $175,978 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.38M
$2.96M – $3.95M
NOI $236,714 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Fully tenanted office building near West Hartford Center.
Where is this office building located?
The property is located at 1216 Farmington Ave West Hartford, CT.
What is the asking price?
The asking price for this property is $1,985,000.
What are key features of this property?
This property features: Prime location just one mile from West Hartford Center.; High visibility at a busy intersection.; Stable investment opportunity with fully tenanted office spaces.
