First-Floor Retail Storefront
For Sale
$159,000
Pending
253 Main Street, Hartford, CT 06106
First-floor storefront suite with open showroom/retail area, two additional rooms, and a half bathroom.
Property Size1,000 SF
Days on Market176
Property Features for 253 Main Street
General Information
Standard status
Pending
Size
1,000 SF
Property subtype
General Commercial
Amenities
3
DT-3
Building Details
Year Built
1915
Listing Agency:
Hudson Home Services LLC
(860) 982-2876
Listed By:
Kathleen Kallfelz
(860) 982-2876
Source:
Xome
Added: Feb 13
Changed: Aug 7
Last Checked: Aug 8 at 3:53AM
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 Hudson Home Services LLC
Investment Insights
Based on property information with market context.
This first-floor commercial storefront suite is designed for flexible business use. The interior includes luxury vinyl floors, a bright open main area suitable for retail, reception, or showroom use, as well as a half bathroom. Two additional rooms provide back-of-house space that can support offices, fitting rooms, private suites, inventory, or storage, depending on the tenant’s needs.
The unit is located at 253 Main Street in Hartford, CT. The storefront presence supports a walk-in component for customers, while the back rooms help preserve private space for day-to-day operations.
The space is offered “as-is.”
The unit is located at 253 Main Street in Hartford, CT. The storefront presence supports a walk-in component for customers, while the back rooms help preserve private space for day-to-day operations.
The space is offered “as-is.”
Key Highlights
- First‑floor commercial storefront suite at 253 Main Street, Unit 1N, Hartford, CT
- Open main area suitable for retail, reception, or showroom use
- Includes 2 additional rooms for offices, fitting rooms, private suites, inventory, or storage
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
$11,302
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
7.11%
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%
$226,040
$226.0K
Cap Rate 7%
$161,457
$161.5K
Cap Rate 9%
$125,578
$125.6K
Market Conditions
NOI Build-Up for 1,000 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
$18.0K $18.00/SF
− Vacancy
−$1.9K −$1.85/SF
EGI
$16.1K $16.15/SF
− OpEx
−$4.8K −$4.84/SF
NOI
$11.3K $11.30/SF
Area
Hartford, CT
Vacancy
10.30%
Lease Rate
$18.00 /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%
$226,040
Cap Rate 7%
$161,457
Cap Rate 9%
$125,578
Alternative Uses
Best Use
Retail
$161.5K
$141.3K – $188.4K
NOI $11,302 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$298.1K
$260.8K – $347.8K
NOI $20,865 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,814
Businesses Nearby
134k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Shops & Services 36%
Groceries 17%
Home Improvements & Furnishings 1%
McDonald's
Dining
31,324 visits/mo
0.3 miles
C-Town Supermarkets
Groceries
22,221 visits/mo
0.5 miles
State Employees Credit Union
Shops & Services
18,403 visits/mo
0.2 miles
Dunkin' Donuts
Dining
17,699 visits/mo
0.4 miles
The Capital Grille
Dining
12,586 visits/mo
0.5 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
Market
Vacancy Rate% for Retail in Hartford, CT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - First-floor storefront suite with open showroom/retail area, two additional rooms, and a half bathroom.
Where is this storefront property located?
The property is located at 253 Main Street Hartford, CT.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: First‑floor commercial storefront suite at 253 Main Street, Unit 1N, Hartford, CT; Open main area suitable for retail, reception, or showroom use; Includes 2 additional rooms for offices, fitting rooms, private suites, inventory, or storage
