Mixed-Use Property With
For Sale
$299,900
4 Great Hill Road, East Hartford, CT 06108
Commercial For Sale, East Hartford, CT
Property Size2,392 SF
Lot Size0.56 Acres
Price / SF$125.38
Days on Market246
Property Features for 4 Great Hill Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-5
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
12
Interior features
Window Display
Exterior features
Outside Storage Area
Lot features
Treed, Level Lot
Directions
Forbes St to Chester St to left onto Great Hill Rd. At 1st stop sign on Great Hill Rd, by school, go right. Property will be on your left. Sign on property.
Standard status
Active
Size
2,392 SF
Lot size
0.56 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
4255
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1933
Floors in Building
2
Flooring type
Vinyl, Concrete, Wood
Additional Structures
Storage
Listing Agency:
Fran Rokicki Realty, LLC
Listed By:
Fran Rokicki
(860) 983-5228
Added: Jan 8
Changed: Sep 6
Last Checked: Sep 11 at 1:06AM
MLS# 24147706
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property contains 2,392 square feet within a 1933-built structure. The first level previously operated as a grocery market and includes window display features, while the second floor provides a two-bedroom apartment. Interior finishes include wood, vinyl, and concrete flooring, with hot water heating.
The 0.56-acre parcel provides off-street parking and an outside storage area. The property is served by public water and public sewer and carries R-5 zoning. Its combination of commercial and residential components supports a two-level configuration with separate functional areas.
The 0.56-acre parcel provides off-street parking and an outside storage area. The property is served by public water and public sewer and carries R-5 zoning. Its combination of commercial and residential components supports a two-level configuration with separate functional areas.
Key Highlights
- 2,392‑square‑foot mixed‑use property on a 0.56‑acre parcel
- Second‑floor apartment with 2 bedrooms
- First level previously operated as a grocery market
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
$27,035
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
9.01%
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%
$540,700
$540.7K
Cap Rate 7%
$386,214
$386.2K
Cap Rate 9%
$300,389
$300.4K
Market Conditions
NOI Build-Up for 2,392 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
$43.1K $18.00/SF
− Vacancy
−$4.4K −$1.85/SF
EGI
$38.6K $16.15/SF
− OpEx
−$11.6K −$4.84/SF
NOI
$27.0K $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%
$540,700
Cap Rate 7%
$386,214
Cap Rate 9%
$300,389
Alternative Uses
Best Use
Mixed Use
$435.7K
$381.2K – $508.3K
NOI $30,498 @ 7.0% cap · market cap 10.17%
Second Best
Retail
$386.2K
$337.9K – $450.6K
NOI $27,035 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$713.0K
$623.9K – $831.8K
NOI $49,909 @ 7.0% cap · market cap 16.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
59k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 47%
McDonald's
Dining
19,281 visits/mo
0.5 miles
Citgo
Shops & Services
11,873 visits/mo
0.5 miles
Dunkin' Donuts
Dining
8,143 visits/mo
0.4 miles
Dollar General
Shops & Services
7,616 visits/mo
0.4 miles
Family Dollar
Shops & Services
5,957 visits/mo
0.5 miles
Demographics for 06108, CT
24,201
Population
9,963
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
85%
High-School Grad
8.1 sq mi
ZIP Area
2,988
Density / Sq Mi
$55,766
Median Household Income
$35,801
Median Earnings
$1,161
Median Rent
$218,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level layout includes commercial space and a second-floor two-bedroom apartment.
Where is this mixed-use property located?
The property is located at 4 Great Hill Road East Hartford, CT.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2,392‑square‑foot mixed‑use property on a 0.56‑acre parcel; Second‑floor apartment with 2 bedrooms; First level previously operated as a grocery market
