Hartford Tavern and Real
For Sale
$899,000
83-85 Arch St, Hartford, CT 06103
Established tavern and real estate in Hartford's Front Street District.
Property Size4,109 SF
Price / SF$213.59
Days on Market135
Property Features for 83-85 Arch St
General Information
Standard status
Active
Size
4,109 SF
Property subtype
Commercial
Building Details
Building Size
4,109 SF
Year Built
1908
Listing Agency:
Agnelli Real Estate
Listed By:
Richard D. Ziff
(860) 604-1655
Source:
Elliman
Added: Apr 24
Changed: Aug 14
Last Checked: Sep 4 at 2:02PM
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 Agnelli Real Estate
Investment Insights
Based on property information with market context.
This is a rare opportunity to own a Hartford institution, Arch Street Tavern, a renowned tavern and live music venue, along with its valuable real estate. The property is situated in the heart of downtown Hartford near the convention center and across from Front Street entertainment district. This location benefits from year-round traffic from tourists, office workers, events, and nearby residential growth. The sale includes furniture, fixtures, and equipment valued at $97,500, and product inventory with an approximate value of $15,000. The business has been operating for 47 years and has a loyal customer base and local recognition. The property features 25 seats at the bar, lounge seating for 24, dining room seating for 160 indoor and 75 outdoor with bar, commercial kitchen, and performance stage space. Known for hosting bands, events, and private parties, it is ideal for a music-forward hospitality concept. The location has a walk score of 92, a transit score of 80, and a bike score of 59. The annual property tax is $1,200 with tax relief in year 4 for a 15 year deal. The building size is 4,209 square feet.
Key Highlights
- Premier Location: Heart of downtown Hartford, across from Front Street entertainment.
- Turnkey Operation: Fully operational and established Arch Street Tavern with 47 years of goodwill.
- Large Venue: 4,209 sqft with 25 bar seats, lounge, dining room, commercial kitchen, and performance stage.
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
$55,761
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
6.20%
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%
$1,115,220
$1.1M
Cap Rate 7%
$796,586
$796.6K
Cap Rate 9%
$619,567
$619.6K
Market Conditions
NOI Build-Up for 4,209 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
$80.8K $19.20/SF
− Vacancy
−$6.5K −$1.54/SF
EGI
$74.3K $17.66/SF
− OpEx
−$18.6K −$4.42/SF
NOI
$55.8K $13.25/SF
Area
Hartford, CT
Vacancy
8.00%
Lease Rate
$19.20 /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%
$1,115,220
Cap Rate 7%
$796,586
Cap Rate 9%
$619,567
Alternative Uses
Best Use
Specialty Retail
$796.6K
$697.0K – $929.4K
NOI $55,761 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,821 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,030
Businesses Nearby
48k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 38%
Dining 32%
Hotels & Casinos 30%
State Employees Credit Union
Shops & Services
18,403 visits/mo
0.5 miles
The Capital Grille
Dining
12,586 visits/mo
0.0 miles
Hampton Inn & Suites East Hartford, CT
Hotels & Casinos
5,627 visits/mo
0.4 miles
Residence Inn Hartford Downtown
Hotels & Casinos
5,281 visits/mo
0.4 miles
Hartford Marriott Downtown
Hotels & Casinos
3,537 visits/mo
0.1 miles
Demographics for 06103, CT
2,540
Population
2,562
Households
1
Avg Household Size
32
Median Age
67%
College-Educated
94%
High-School Grad
0.6 sq mi
ZIP Area
4,233
Density / Sq Mi
$79,476
Median Household Income
$83,471
Median Earnings
$1,677
Median Rent
$319,000
Median Home Value
Market
Vacancy Rate% for Retail in Hartford, CT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Established tavern and real estate in Hartford's Front Street District.
Where is this bar & pub located?
The property is located at 83-85 Arch St Hartford, CT.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Premier Location: Heart of downtown Hartford, across from Front Street entertainment.; Turnkey Operation: Fully operational and established Arch Street Tavern with 47 years of goodwill.; Large Venue: 4,209 sqft with 25 bar seats, lounge, dining room, commercial kitchen, and performance stage.
