331 South St, Hartford, CT 06032

Listing Agency: CBRE | Hartford Show Phone

Listed By: Alexis Augsberger Show Phone

Source: Moodyscre

Added: Nov 5 Changed: Nov 8 Last Checked: Nov 8 at 4:02PM

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Investment Insights

Based on property information with market context.

This 3,150-square-foot restaurant property at 331 South St in Hartford includes furniture and equipment available for use, including a hood and coolers.

The site offers visibility from I-84, with access to the I-84 and Route 9 on- and off-ramps.

Key Highlights

• 3,150‑square‑foot restaurant property
• Furniture and equipment available, including a hood and coolers
• Visibility from I‑84

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,731

Cap Rate

4.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$834,620 $834.6K

Cap Rate 7%

$596,157 $596.2K

Cap Rate 9%

$463,678 $463.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,150 SF

Gross rent

$60.5K $19.20/SF

− Vacancy

−$4.8K −$1.54/SF

EGI

$55.6K $17.66/SF

− OpEx

−$13.9K −$4.42/SF

NOI

$41.7K $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%

$834,620

Cap Rate 7%

$596,157

Cap Rate 9%

$463,678

Alternative Uses

Best Use

Specialty Retail

$596.2K

$521.6K – $695.5K (±1% cap)

NOI $41,731 @ 7.0% cap · market cap 4.17%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$938.9K

$821.6K – $1.10M (±1% cap)

NOI $65,725 @ 7.0% cap · market cap 6.57%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency Building Supply Auto Repair Shop Big Box & Wholesale Store Law Firm Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Yes

Commercial hood

Location Intelligence

Trade Area within ½ mile

783

Businesses Nearby

48k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 63% Dining 31% Electronics 3% Home Improvements & Furnishings 2%

Bank of America Shops & Services

10,507 visits/mo 0.3 miles

Family Dollar Shops & Services

10,435 visits/mo 0.4 miles

Dunkin' Donuts Dining

8,497 visits/mo 0.4 miles

Citgo Shops & Services

6,545 visits/mo 0.3 miles

SUBWAY Dining

3,758 visits/mo 0.2 miles

Demographics for 06032, CT

19,060

Population

8,539

Households

2.2

Avg Household Size

45

Median Age

66%

College-Educated

96%

High-School Grad

23.1 sq mi

ZIP Area

825

Density / Sq Mi

$131,488

Median Household Income

$70,388

Median Earnings

$1,828

Median Rent

$419,200

Median Home Value

Market

Average Price Trend$/SF for Conventional restaurants in Hartford, CT

$128 Jul

$147 Aug

$156 Sep

$156 Oct

Properties on Market for Conventional restaurants in Hartford

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Hartford, CT

7.8% 2020

7.1% 2021

6.4% 2022

6.8% 2023

7.1% 2024

7.1% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Restaurant furnishings and kitchen equipment, including a hood and coolers, are available with the property.

Where is this conventional restaurant located?

The property is located at 331 South St Hartford, CT.

What is the asking price?

The asking price for this property is $1,000,000.

What are key features of this property?

This property features: 3,150‑square‑foot restaurant property; Furniture and equipment available, including a hood and coolers; Visibility from I‑84