Triplex with Four-Car
New
For Sale
$569,900
28-30 Nesbit Ave, West Hartford, CT 06119
Three-family property near Park Road restaurants, coffee shops, and West Hartford’s historic district.
Property Size3,479 SF
Days on Market4
Property Features for 28-30 Nesbit Ave
General Information
Standard status
Active
Size
3,479 SF
Total Parking Spaces
4
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
LEAD ABATEMENT ORDER FOR THE 1ST FLOOR UNIT
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Building Details
Building Size
3,479 SF
Year Built
1917
Listing Agency:
(860) 748-6258
Listed By:
Tracy S. Wagner · License #RES.0765338
(860) 748-6258
Source:
Elliman
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 30 at 6:37PM
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 Tracy S. Wagner
Investment Insights
Based on property information with market context.
Built in 1917, this three-family residence offers separate operating systems for each unit, including individual furnaces, hot water heaters, electrical panels, and natural gas meters. Hardwood flooring runs throughout the units, while public water and sewer serve the property. A detached four-car garage and barn provide substantial additional building area, and on-site parking is available.
The property is positioned near Park Road, with restaurants and coffee shops within walking distance. Walk Score is 89, Bike Score is 59, and Transit Score is 42. The sale is strictly as-is through an estate with no disclosures. The first-floor unit is subject to a lead abatement order, which the buyer must assume and address; cash or hard-money financing is preferred, and any loan must permit the abatement work.
The property is positioned near Park Road, with restaurants and coffee shops within walking distance. Walk Score is 89, Bike Score is 59, and Transit Score is 42. The sale is strictly as-is through an estate with no disclosures. The first-floor unit is subject to a lead abatement order, which the buyer must assume and address; cash or hard-money financing is preferred, and any loan must permit the abatement work.
Key Highlights
- Three‑family property with 3 separate furnaces, 3 hot water heaters, 3 electrical panels, and 3 natural gas meters
- Large 4‑car garage/barn with on‑site parking
- Hardwood floors throughout the units
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
$51,085
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
8.96%
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%
$1,021,700
$1.0M
Cap Rate 7%
$729,786
$729.8K
Cap Rate 9%
$567,611
$567.6K
Market Conditions
NOI Build-Up for 3,479 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
$77.2K $22.20/SF
− Vacancy
−$4.3K −$1.22/SF
EGI
$73.0K $20.98/SF
− OpEx
−$21.9K −$6.29/SF
NOI
$51.1K $14.68/SF
Area
Hartford, CT
Vacancy
5.51%
Lease Rate
$22.20 /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%
$1,021,700
Cap Rate 7%
$729,786
Cap Rate 9%
$567,611
Alternative Uses
Best Use
Multifamily LT 5
$729.8K
$638.6K – $851.4K
NOI $51,085 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$670.5K
$586.7K – $782.3K
NOI $46,936 @ 7.0% cap · market cap 8.24%
Theoretical Best
Office A
$1.04M
$907.4K – $1.21M
NOI $72,589 @ 7.0% cap · market cap 12.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
844
Businesses Nearby
Explore this area
Business Placement
Demographics for 06119, CT
14,843
Population
7,206
Households
2.1
Avg Household Size
37
Median Age
68%
College-Educated
95%
High-School Grad
2.1 sq mi
ZIP Area
7,068
Density / Sq Mi
$105,522
Median Household Income
$63,122
Median Earnings
$1,646
Median Rent
$361,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family property near Park Road restaurants, coffee shops, and West Hartford’s historic district.
Where is this triplex located?
The property is located at 28-30 Nesbit Ave West Hartford, CT.
What is the asking price?
The asking price for this property is $569,900.
What are key features of this property?
This property features: Three‑family property with 3 separate furnaces, 3 hot water heaters, 3 electrical panels, and 3 natural gas meters; Large 4‑car garage/barn with on‑site parking; Hardwood floors throughout the units
