Renovated Mixed-Use Income
For Lease
$2,599,000
450 Franklin Ave, Hartford, CT 06114
Mixed-use building with 12 one-bedroom apartments and five commercial units, each with separate utilities.
Space SizeContact for details
Days on Market268
Property Features for 450 Franklin Ave
General Information
Standard status
Active
Total Parking Spaces
12
Occupancy
100%
Additional Details
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$30,016
Building Details
Tenancy
Multi
Listing Agency:
Sovereign Properties
Listed By:
Lani Liu-Helisch · License #REB.0788679
(203) 722-2451
Source:
Exprealty
Added: Dec 13, 2025
Changed: Aug 20
Last Checked: Sep 6 at 11:27AM
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 Sovereign Properties
Investment Insights
Based on property information with market context.
This solid mixed-use property combines 12 one-bedroom apartments with five separate commercial units, and all units have separate utilities. The building is fully occupied, with many long-term tenants. Renovations were completed in the late 1990s, including new sheetrock throughout apartments and hallways, and replacement of all doors, door frames, windows, and window frames to address lead paint concerns. All electric and gas meters have also been replaced at some point.
The property includes 12 parking spaces for residential tenants, with additional parking available on the side of the building and on the street. Public remarks describe heavy foot traffic that supports the current neighborhood commercial mix, including a Chinese restaurant, grocery store, laundromat, check and cash, and a nail salon. The seller will pay for new pavement in front of the building and repair the back parking lot with new coating. The laundromat business can be sold together at the buyer’s option.
The property includes 12 parking spaces for residential tenants, with additional parking available on the side of the building and on the street. Public remarks describe heavy foot traffic that supports the current neighborhood commercial mix, including a Chinese restaurant, grocery store, laundromat, check and cash, and a nail salon. The seller will pay for new pavement in front of the building and repair the back parking lot with new coating. The laundromat business can be sold together at the buyer’s option.
Key Highlights
- Mixed‑use building with 12 one‑bedroom apartments and 5 commercial units.
- Separate utilities for all units.
- Fully occupied with long‑term tenants in most units.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
100%
Occupancy
Multi-tenant
Tenancy
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Mixed-use building with 12 one-bedroom apartments and five commercial units, each with separate utilities.
Where is this apartment building located?
The property is located at 450 Franklin Ave Hartford, CT.
What is the lease rate?
The lease rate is $2,599,000.
What are key features of this property?
This property features: Mixed‑use building with 12 one‑bedroom apartments and 5 commercial units.; Separate utilities for all units.; Fully occupied with long‑term tenants in most units.
