Three-Bay Auto
For Sale
$629,900
1511 Albany Ave, Hartford, CT 06112
Corner-site facility with lift equipment, customer waiting space, private office, bathroom, and parking on both sides.
Property Size1,680 SF
Price / SF$374.94
Days on Market39
Property Features for 1511 Albany Ave
General Information
Standard status
Active
Size
1,680 SF
Additional Details
Road Access
Yes
Service Bays
3
Amenities
lift equipment
waiting area
bathroom
private office
Building Details
Year Built
1957
Listing Agency:
SalCal Real Estate Connections
(860) 828-1783
Listed By:
Joseph Aiello
Source:
Homesbyshoshana
Added: Jul 24
Changed: Aug 30
Last Checked: Aug 25 at 4:51AM
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 SalCal Real Estate Connections
Investment Insights
Based on property information with market context.
This automotive facility is configured for repair operations and includes 3 large service bays with lift equipment. The interior also provides a customer waiting area, bathroom, and private office, supporting both service and administrative functions. Parking is available in the front and rear lots.
Positioned on a corner at a traffic intersection, the property is designed for exposure to passing motorists. Its MS-2 zoning and existing automotive layout support consideration for automotive repair and/or used car sales. Built in 1957, the property is located at 1511 Albany Avenue in Hartford, Connecticut 06112.
Positioned on a corner at a traffic intersection, the property is designed for exposure to passing motorists. Its MS-2 zoning and existing automotive layout support consideration for automotive repair and/or used car sales. Built in 1957, the property is located at 1511 Albany Avenue in Hartford, Connecticut 06112.
Key Highlights
- 3 large service bays with lift equipment
- Corner lot at a traffic intersection
- Front and rear parking areas
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
$18,937
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
3.01%
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%
$378,740
$378.7K
Cap Rate 7%
$270,529
$270.5K
Cap Rate 9%
$210,411
$210.4K
Market Conditions
NOI Build-Up for 1,680 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
$28.6K $17.04/SF
− Vacancy
−$1.6K −$0.94/SF
EGI
$27.1K $16.10/SF
− OpEx
−$8.1K −$4.83/SF
NOI
$18.9K $11.27/SF
Area
Hartford, CT
Vacancy
5.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$378,740
Cap Rate 7%
$270,529
Cap Rate 9%
$210,411
Alternative Uses
Best Use
Retail
$271.3K
$237.4K – $316.5K
NOI $18,988 @ 7.0% cap · market cap 3.01%
Second Best
Industrial
$270.5K
$236.7K – $315.6K
NOI $18,937 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$500.8K
$438.2K – $584.2K
NOI $35,053 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
64k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 39%
Groceries 10%
McDonald's
Dining
26,555 visits/mo
0.3 miles
Exxon
Shops & Services
8,015 visits/mo
0.5 miles
Gulf Oil
Shops & Services
7,746 visits/mo
0.0 miles
Bravo Supermarkets
Groceries
6,631 visits/mo
0.3 miles
Golden Krust Caribbean Bakery and Grill
Dining
5,857 visits/mo
0.4 miles
Demographics for 06112, CT
23,189
Population
8,785
Households
2.6
Avg Household Size
32
Median Age
10%
College-Educated
77%
High-School Grad
3.0 sq mi
ZIP Area
7,730
Density / Sq Mi
$47,010
Median Household Income
$29,383
Median Earnings
$1,229
Median Rent
$203,300
Median Home Value
Market
Vacancy Rate% for Retail in Hartford, CT
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Goat Tints — 286 Homestead Ave, Hartford, CT 06106
- Discount Home Repairs — 40 Oakland Terrace, Hartford, CT 06112, United States
- Alfredson Proficient Towing Corp. — 885 Albany Ave, Hartford, CT 06112
- Infinitum Energy LLC — 165 Terry Rd, Hartford, CT 06105, United States
- Cecil Auto Electric — 1496 Albany Ave, Hartford, CT 06112
Frequently Asked Questions
What type of property is this?
Auto shop - Corner-site facility with lift equipment, customer waiting space, private office, bathroom, and parking on both sides.
Where is this auto shop located?
The property is located at 1511 Albany Ave Hartford, CT.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: 3 large service bays with lift equipment; Corner lot at a traffic intersection; Front and rear parking areas
