Restaurant and Bar
For Sale
$399,000
407 Main Street 101b, Hartford, CT 06106
Operating culinary business with restaurant equipment and bar improvements in a historic Hartford commercial building.
Property Size1,492 SF
Price / SF$267.43
Days on Market71
Property Features for 407 Main Street 101b
General Information
Standard status
Active
Size
1,492 SF
Additional Details
Business Included
Yes
Corner Location
Yes
Equipment Included
Yes
Building Details
Year Built
1895
Buildings
1
Listing Agency:
Keller Williams Prestige Prop.
Listed By:
Jacqueline Yeap · License #RES.0805343
(917) 302-7916
Source:
Homesbyshoshana
Added: Jul 27
Changed: Sep 11
Last Checked: Oct 4 at 2:46PM
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 Keller Williams Prestige Prop.
Investment Insights
Based on property information with market context.
This Hartford commercial property combines a retail condominium with an operating restaurant and bar business. The premises include professional restaurant equipment and an established bar configuration, offering a built-out setting for continued food-and-beverage operations.
The property is located at 407 Main St Unit 101b, at the intersection of Main Street and Capitol Avenue. The building dates to 1895 and occupies a prominent downtown crossroads. The offering consists of one of two retail condominium units being marketed with the business; both units are required to be purchased together.
The property is located at 407 Main St Unit 101b, at the intersection of Main Street and Capitol Avenue. The building dates to 1895 and occupies a prominent downtown crossroads. The offering consists of one of two retail condominium units being marketed with the business; both units are required to be purchased together.
Key Highlights
- Operating restaurant and bar business included with the property
- Professional restaurant equipment and bar improvements in place
- Two retail condominium units must be purchased together
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,766
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$395,320
$395.3K
Cap Rate 7%
$282,371
$282.4K
Cap Rate 9%
$219,622
$219.6K
Market Conditions
NOI Build-Up for 1,492 SF
Gross rent
$28.6K $19.20/SF
− Vacancy
−$2.3K −$1.54/SF
EGI
$26.4K $17.66/SF
− OpEx
−$6.6K −$4.42/SF
NOI
$19.8K $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 Rate 5%
$395,320
Cap Rate 7%
$282,371
Cap Rate 9%
$219,622
Alternative Uses
Best Use
Specialty Retail
$282.4K
$247.1K – $329.4K
NOI $19,766 @ 7.0% cap · market cap 4.95%
Second Best
Retail
$240.9K
$210.8K – $281.1K
NOI $16,863 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$444.7K
$389.1K – $518.9K
NOI $31,131 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
6,868
Businesses Nearby
69k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 67%
Shops & Services 26%
Hotels & Casinos 5%
Electronics 1%
McDonald's
Dining
31,324 visits/mo
0.5 miles
State Employees Credit Union
Shops & Services
18,403 visits/mo
0.2 miles
The Capital Grille
Dining
12,586 visits/mo
0.2 miles
Hartford Marriott Downtown
Hotels & Casinos
3,537 visits/mo
0.3 miles
Dunkin' Donuts
Dining
2,614 visits/mo
0.4 miles
Demographics for 06106, CT
38,036
Population
16,938
Households
2.2
Avg Household Size
33
Median Age
17%
College-Educated
70%
High-School Grad
4.2 sq mi
ZIP Area
9,056
Density / Sq Mi
$47,542
Median Household Income
$31,395
Median Earnings
$1,237
Median Rent
$201,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Hartford, CT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating culinary business with restaurant equipment and bar improvements in a historic Hartford commercial building.
Where is this conventional restaurant located?
The property is located at 407 Main Street 101b Hartford, CT.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Operating restaurant and bar business included with the property; Professional restaurant equipment and bar improvements in place; Two retail condominium units must be purchased together
