Versatile Income-Generating Commercial
28 Highland St East Hartford, CT 06108
For Sale
$475,000
Well-maintained building with drive-in doors and income potential.
Property Size3,500 SF
Lot Size0.38 Acres
Price / SF$135.71
Days on Market142
Property Features for 28 Highland St
General Information
Standard status
Active
Size
3,500 SF
Lot size
0.38 Acres
Property subtype
Commercial
Building Details
Year Built
1947
Listing Agency:
Graham Real Estate
(860) 289-1541
Listed By:
Peter R. Graham · License #REB0274559
(860) 289-1541
Source:
Elliman
Added: Mar 11
Changed: Jul 10
Last Checked: Jul 29 at 9:09AM
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 Graham Real Estate
Investment Insights
Based on property information with market context.
This well-maintained building offers a versatile space suitable for various commercial and residential income purposes. The property features four units, with tenants responsible for their own heat and electricity. A large 3,500 sq. ft. unit is currently available, featuring a 14-foot drive-in door suitable for equipment access or vehicle storage. Additionally, a separate 1,400 sq. ft. unit with a drive-in door and loading dock was recently leased for $1,500 per month on a one-year lease. Each unit includes a half bath, and one unit features an additional 450 sq. ft. office and a second bathroom. Previously occupied by a plumbing and heating contractor, this space is ideal for tradespeople or business owners needing functional space with great utility access. This property can accommodate business needs, such as servicing tractors through a 14-foot door, while generating rental income to help cover the mortgage.
Key Highlights
- Large 3,500 sq. ft. unit available.
- 14‑foot drive‑in door for equipment or vehicle access.
- Income‑generating potential from leased 1,400 sq. ft. unit at $1,500/month.
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.6k | $17.04 |
| − Vacancy | −$3.3k | −$0.94 |
| EGI | $56.4k | $16.10 |
| − OpEx | −$16.9k | −$4.83 |
| NOI | $39.5k | $11.27 |
3,500 SF · lease $17.04/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$734.2K
$642.4K – $856.6K
NOI $51,393 @ 7.0% cap · market cap 10.82%
Second Best
Apartment 5plus
$674.6K
$590.3K – $787.0K
NOI $47,220 @ 7.0% cap · market cap 9.94%
Theoretical Best
Office A
$1.04M
$912.9K – $1.22M
NOI $73,028 @ 7.0% cap · market cap 15.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained building with drive-in doors and income potential.
Where is this quadplex located?
The property is located at 28 Highland St East Hartford, CT.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Large 3,500 sq. ft. unit available.; 14‑foot drive‑in door for equipment or vehicle access.; Income‑generating potential from leased 1,400 sq. ft. unit at $1,500/month.
