Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    9 Madison St Hartford, CT 06183

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $425,000

    Historic mixed-use property with income potential near Hartford Hospital.

    Lot size:
    0.16 Acres

    Property Features for 9 Madison St

    General Information

    Property type
    Multi Family
    Standard status
    Pending
    Lot size
    0.16 Acres

    Building Details

    Year built
    1910

    We can help!

    Listing Contact
    Tommy Connors
    Source: Elliman

    Listing Agent: Tommy Connors

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

    Learn more

    Overview

    Mixed-Use Property in Frog Hollow

    Located in Frog Hollow, this mixed-use property offers historic charm and income-generating potential. The building features a front elevation and a wrap-around porch. The main level, previously a dental office, includes a reception area, two private offices, and two treatment rooms with plumbing infrastructure, plus a half bath. This space is suitable for a beauty salon, barber shop, wellness clinic, medical practice, or professional services office, and can also be converted to residential use. The upper floors contain two residential units. The second floor is a large space with a double parlor floorplan that can be converted to a three-bedroom layout, an eat-in kitchen with gas cooking, and laundry. The third floor is currently set up as a one-bedroom but can be used as a two-bedroom with an eat-in kitchen. Additional features include replacement windows, gas heat, vinyl siding, and a 15-year-old roof. A three-car garage and parking are available. The property is located steps from Hartford Hospital, close to Trinity College, and one mile from the Capitol and downtown Hartford.
    Location Intelligence

    Current Use by Public Records

    Psaras James DDS Dental Office

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Hartford
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.6833988
    Latitude
    41.7544097

    Nearby Similar for Sale

    • $999,999
      Pending

      Newington Commercial Building For Sale

      Commercial building in accessible industrial park suitable for various uses.
      28 Costello Pl, Newington, CT 06111
      View Details
    • $299,000
      2,636 SF

      Hartford Multifamily Investment Opportunity

      Multifamily property for sale in Hartford, Connecticut.
      251 Collins St, Hartford, CT 06105
      View Details
    • $58,000

      Established Hair Salon Opportunity

      Turn-key hair salon in retirement community, Hartford County.
      Withheld, Hartford, CT 06106
      View Details
    • $250,000
      0.23 Acres

      Hartford Investment Opportunity

      Investment property for sale in Hartford, Connecticut.
      184 Franklin Ave, Hartford, CT 06114
      View Details
    • New
      $449,900
      2,798 SF

      Remodeled Three-Family Home in Hartford

      Well-maintained, remodeled three-family home in Hartford's South End.
      28 Warner Street Ext, Hartford, CT 06114
      View Details
    • $675,000
      Pending

      Hartford Multifamily Investment Opportunity

      Six-family property in Hartford, Connecticut, ideal for investment.
      50 York St, Hartford, CT 06106
      View Details
    • $5,799,000
      58,400 SF

      East Hartford Industrial Property Available

      Centrally located industrial property with flexible loading and heavy power.
      241 Park Ave, East Hartford, CT 06108
      View Details
    • $649,900
      6,268 SF

      Hartford Multifamily Townhouse-Style Residence

      Four-unit townhouse-style multifamily residence with value-add opportunity.
      71 Williams St, Hartford, CT 06120
      View Details
    • New
      $350,000
      Pending

      Hartford Three-Family Investment Opportunity

      Well-maintained three-family property in Hartford's Parkville neighborhood.
      22 Dorothy St, Hartford, CT 06106
      View Details
    • $475,000
      3,982 SF

      Semi-Renovated Hartford Three-Family Residence

      Move-in ready three-family residence with investment potential in Hartford.
      96 Sargeant St, Hartford, CT 06154
      View Details
    • $459,900
      6,006 SF

      Spacious Two-Family Home Opportunity

      Large two-family home with over 6,000 sq ft of living.
      35 Burton St, Hartford, CT 06112
      View Details
    • $770,000
      5,381 SF

      Mixed-Use Investment Opportunity, Hartford

      Two buildings, six units, commercial and residential income potential.
      763 Park St, Hartford, CT 06106
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Historic mixed-use property with income potential near Hartford Hospital.
    Where is this mixed-use property located?
    The property is located at 9 Madison St Hartford, CT.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: - Mixed-use property with income-generating potential and residential units; - Prime location near Hartford Hospital, Trinity College, and downtown Hartford; - Main level suitable for business or residential conversion (previously a dental office with existing plumbing)
    (978) 809-0965
    Request Owner's contact information
    9 Madison St Hartford, CT 06183
    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.
    9 Madison St
    Hartford, CT 06183
    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
    9 Madison St Hartford, CT 06183
    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
    Tommy Connors
    (978) 809-0965 (203) 349-8711
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!