High-Traffic Corner Lot
For Sale
Contact for pricing
446 Franklin Ave, Hartford, CT 06114
Versatile commercial property with high visibility and ample parking.
Property Size1,749 SF
Price / SF$257.23
Days on Market164
Property Features for 446 Franklin Ave
General Information
Standard status
Active
Size
1,749 SF
Property subtype
Mixed Use, Retail
Zoning
MS-2
Building Details
Year Built
1931
Buildings
1
Stories
1
Units
1
Listing Agency:
Five Stars Realty
(215) 730-5401
Listed By:
Kervin Figaro · License #CT RES.0813048
Source:
Crexi
Added: Mar 2
Changed: Aug 8
Last Checked: Aug 8 at 6:31AM
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 Five Stars Realty
Investment Insights
Based on property information with market context.
Located on a high-traffic corner lot at Franklin and Brown, this property offers outstanding visibility and accessibility. Currently operating as an automotive repair shop, it presents an opportunity for owner-operators or investors. The 1749-square-foot space is well-equipped for automotive services and features a functional layout with ample on-site parking for customer convenience. The property offers potential for conversion to office space, a franchise location, or other retail needs, making it a versatile investment in a prime commercial corridor.
Key Highlights
- High‑traffic corner lot location at Franklin and Brown provides outstanding visibility and accessibility.
- Currently equipped as a functional automotive repair shop with ample on‑site parking.
- Versatile investment opportunity suitable for owner‑operators or investors.
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
$19,768
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
4.39%
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%
$395,360
$395.4K
Cap Rate 7%
$282,400
$282.4K
Cap Rate 9%
$219,644
$219.6K
Market Conditions
NOI Build-Up for 1,749 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
$31.5K $18.00/SF
− Vacancy
−$3.2K −$1.85/SF
EGI
$28.2K $16.15/SF
− OpEx
−$8.5K −$4.84/SF
NOI
$19.8K $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%
$395,360
Cap Rate 7%
$282,400
Cap Rate 9%
$219,644
Alternative Uses
Best Use
Retail
$282.4K
$247.1K – $329.5K
NOI $19,768 @ 7.0% cap · market cap 4.39%
Second Best
Industrial
$281.6K
$246.4K – $328.6K
NOI $19,715 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$521.3K
$456.2K – $608.2K
NOI $36,493 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
86k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Dining 36%
Electronics 2%
Home Improvements & Furnishings 1%
Wendy's
Dining
14,676 visits/mo
0.4 miles
Burger King
Dining
12,283 visits/mo
0.3 miles
Family Dollar
Shops & Services
10,435 visits/mo
0.2 miles
Sunoco
Shops & Services
7,594 visits/mo
0.1 miles
Dollar General
Shops & Services
6,698 visits/mo
0.2 miles
Demographics for 06114, CT
26,257
Population
11,206
Households
2.3
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
4.0 sq mi
ZIP Area
6,564
Density / Sq Mi
$47,905
Median Household Income
$31,996
Median Earnings
$1,296
Median Rent
$228,300
Median Home Value
Market
Vacancy Rate% for Retail in Hartford, CT
Questions? Ask Rey
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Similar Off Market Nearby
- Mecca Auto Sales And Repairs — 585 Franklin Ave, Hartford, CT 06114
- Pope Park Automotive Llc — 99 Hanmer St F, Hartford, CT 06114
- Pierce Buick — 599 Franklin Ave, Hartford, CT 06114
- Cadasse Auto Tinting LLC — 54 Bolton St, Hartford, CT 06114
- Reno's Auto Body & Repair Inc — 99 Hanmer St, Hartford, CT 06114
Frequently Asked Questions
What type of property is this?
Auto shop - Versatile commercial property with high visibility and ample parking.
Where is this auto shop located?
The property is located at 446 Franklin Ave Hartford, CT.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: High‑traffic corner lot location at Franklin and Brown provides **outstanding visibility and accessibility.**; Currently equipped as a functional automotive repair shop with **ample on‑site parking.**; Versatile investment opportunity suitable for owner‑operators or investors.
