Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Renovated Three-Bedroom Apartment for Rent Title is generated by Realmo AI

    416 Park St 1, New Britain, CT 06051

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,300 /Mo

    Recently renovated 3-bedroom apartment near downtown with modern amenities.

    Type:Multi Family
    Lot size:
    0.25 Acres
    Added:
    Mar 26, 2026
    Days on Market:
    54
    Last Refresh:
    Mar 26 at 4:10 am

    Property Features for 416 Park St 1

    General Information

    Standard status
    Active
    Lot size
    0.25 Acres
    Property subtype
    Multi Family

    Building Details

    Year Built
    1905

    We can help!

    Listing Contact
    Florian C. Orleanu
    Florian C. Orleanu

    Listing agent Florian C. Orleanu

    Listing office eXp Realty

    Listing date Mar 26, 2026

    Source Elliman

    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

    HighLights

    • Recently renovated top to bottom with everything brand new
    • In‑unit laundry
    • Enjoy your private balcony
    • High‑efficiency natural gas furnace and hot water heater
    • Located a few minutes from downtown
    • Ample parking available

    Overview

    This first-floor unit is available for rent in a recently renovated building. The unit features three bedrooms, one bathroom, a living room, a kitchen, and a private balcony. Oak hardwood flooring is present throughout the unit. It is equipped with a high-efficiency natural gas-fired furnace and hot water heater. The building incorporates fire code compliance measures, including motion sensor LED lighting in common stairwells and the exterior, an electrical panel located in the unit, hard-wired smoke/CO detectors, emergency lighting throughout the common staircases, and fire-rated entrance doors. Laundry facilities are located in the unit. Parking is available, and a garage can be rented separately. Lawn maintenance and snow removal are handled by the landlord. Pets are considered on a case-by-case basis with landlord approval. The property is located a few minutes away from downtown.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Henzer Residential Construction Construction Company

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon 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
    New Britain
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.7697029
    Latitude
    41.6659227

    Nearby Similar for Lease

    • $14 SF/Yr
      1,878 SF

      Professional Office Space For Lease

      Professional office space available in a well-located building.
      55 Broad Street, New Britain, CT 06052
      View Details
    • Sponsored
      $129-$6,756/Mo
      11-1,292 SF

      CT, New Britain - Liberty Square

      1 Liberty Sq, Unit 301, New Britain, CT 06052
      View Details
    • $2,300/Mo
      6,598 SF

      Versatile Industrial Space For Lease

      6,598 SF industrial space with showroom and office areas.
      21 Pleasant St, New Britain, CT 06051
      View Details
    • $6,000/Mo

      Remodeled Commercial Property in New Britain

      Versatile office spaces in historic New Britain business district.
      25 Court St, New Britain, CT 06051
      View Details
    • $9 SF/Yr
      67,007 SF

      New Britain Flex Space Available

      26,752 SF flex space for lease in New Britain.
      255 Myrtle Street, New Britain, CT, 06053
      View Details
    • $1,900/Mo
      1,116 SF

      Renovated Two Bedroom Apartment

      First-floor, two-bedroom apartment with modern updates and garage.
      73 Brooklawn St 1, New Britain, CT 06052
      View Details
    • $2,000/Mo
      1,366 SF

      Spacious Remodeled Unit For Rent

      Remodeled 3 bed, 1 bath unit with updated kitchen.
      70 Monroe St 3, New Britain, CT 06051
      View Details
    • $2,500/Mo
      1,850 SF

      New Britain Commercial Space For Rent

      First floor commercial space in the heart of New Britain.
      205 West Main Street, New Britain, CT 06052
      View Details
    • $1,650/Mo
      714 SF

      Retail Space on Busy Street

      Retail space available on a high-traffic street.
      566 East Street, New Britain, CT 06051
      View Details
    • $1,650/Mo

      Modern 2-Bedroom Apartment in New Britain

      Remodeled apartment near CCSU with modern amenities and convenient location.
      98 Carlton St 101, New Britain, CT 06053
      View Details
    • $1,350/Mo

      Spacious Apartment with Private Entrance

      Downstairs apartment near major routes, shopping, and hospital.
      2015 Corbin Ave 7, New Britain, CT 06053
      View Details
    • $1,550/Mo

      Updated Two-Bedroom Apartment For Rent

      Modern, updated 2-bedroom apartment with parking and enclosed porch.
      396 W Main St 3, New Britain, CT 06052
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Recently renovated 3-bedroom apartment near downtown with modern amenities.
    Where is this multifamily property located?
    The property is located at 416 Park St 1 New Britain, CT.
    What is the lease rate?
    The lease rate is $2,300 /Mo.
    What are key features of this property?
    This property features: Recently renovated top to bottom with everything brand new; In‑unit laundry; Enjoy your private balcony
    (860) 313-0700
    We can help!
    Listing Contact
    Florian C. Orleanu
    Florian C. Orleanu
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    416 Park St 1, New Britain, CT 06051
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!