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    Premier Retail Space in Hartford Title is generated by Realmo AI

    241 Trumbull Street, Hartford, CT 06103

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    Prime retail spaces available in downtown Hartford's mixed-use development.

    Type:Retail
    Property size:
    33,900 SF
    Added:
    Nov 22, 2025
    Days on Market:
    182
    Last Refresh:
    Apr 5 at 8:24 pm

    Property Features for 241 Trumbull Street

    General Information

    Standard status
    Active
    Size
    33,900 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    John McCormick

    Listing agent John McCormick

    Listing office CBRE | Hartford

    Listing date Nov 22, 2025

    Source Cbre

    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 CBRE | Hartford

    HighLights

    • Premier mixed‑use development in downtown Hartford's best location, adjacent to People’s Bank Arena and near Dunkin’ Park and Pratt Street.
    • High‑profile retail spaces with excellent branding opportunities.
    • Diverse retail space options available on Asylum and Trumbull Streets, ranging from ±500 SF to ±8,500 SF.
    • Front row seat to premier sporting and entertainment events at People’s Bank Arena.
    • Growing center of education with UCONN Hartford’s Research and Innovation program.
    • Variety of space types available, including raw space and a former market/deli/grocery space.

    Overview

    Hartford 21 is a mixed-use development featuring luxury apartments, signature office spaces, and ground floor retail services. It is located in downtown Hartford, adjacent to the People’s Bank Arena, near Dunkin’ Park, and opposite the Pratt Street retail and residential district. Hartford 21 offers retail space in a high-profile location with branding opportunities. It is positioned as the face of People’s Bank Arena and is near UCONN Hartford’s Research and Innovation program. Retail spaces are available on Asylum and Trumbull Streets, ranging from approximately 500 to 8,500 square feet. Asylum Street availabilities include: Suite A-1, a two-story corner location with 5,074 square feet (1,561 square feet on the first floor and 3,513 square feet of mezzanine space on the second floor); Suite A-2, a former market/deli/grocery space with 8,473 square feet; Suite A-4, raw space with 841 square feet; and Suite A-5, raw space with 500 square feet. Trumbull Street availabilities include: Suite T-3 with 1,333 square feet; Suite T-4, raw space with 5,016 square feet; Suite T-5, raw space with 8,205 square feet that may be subdivided; Suite T-6, raw space with 3,369 square feet; and Suite T-7 with 1,094 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hartford
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.6758
    Latitude
    41.7685

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    FAQs

    What type of property is this?
    Retail space - Prime retail spaces available in downtown Hartford's mixed-use development.
    Where is this retail space located?
    The property is located at 241 Trumbull Street Hartford, CT.
    What are key features of this property?
    This property features: Premier mixed‑use development in downtown Hartford's best location, adjacent to People’s Bank Arena and near Dunkin’ Park and Pratt Street.; High‑profile retail spaces with excellent branding opportunities.; Diverse retail space options available on Asylum and Trumbull Streets, ranging from ±500 SF to ±8,500 SF.
    (860) 987-4736
    We can help!
    Listing Contact
    John McCormick
    Request Owner's contact information
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    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
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