Detached Auto Shop
For Sale
$700,000
524 Wethersfield Avenue, Hartford, CT 06114
Rear-lot commercial building paired with a front single-family residence on one parcel, with NX-2 zoning and Hartford access.
Property Size3,500 SF
Price / SF$200
Days on Market51
Property Features for 524 Wethersfield Avenue
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Year Built
1991
Buildings
2
Listing Agency:
Hudson Home Services LLC
(860) 982-0821
Listed By:
Jose Acosta · License #ACOSTAJ
Source:
Timdentteam
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 25 at 3:48AM
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 Hudson Home Services LLC
Investment Insights
Based on property information with market context.
The offering includes a detached commercial building positioned behind a single-family residence on the same parcel. Constructed in 1991, the commercial structure is currently used for a tire service operation, which will relocate before closing; the operating business, inventory, equipment, and goodwill are excluded. The property is zoned NX-2, and future occupancy or changes in use remain subject to applicable zoning and local requirements.
The parcel is at 524 Wethersfield Avenue in Hartford’s South End, with access to downtown Hartford, major highways, and nearby business districts. The commercial building and residence are being conveyed together rather than as separate components. A companion residential listing, MLS# 24183052, provides additional information about the front home.
The parcel is at 524 Wethersfield Avenue in Hartford’s South End, with access to downtown Hartford, major highways, and nearby business districts. The commercial building and residence are being conveyed together rather than as separate components. A companion residential listing, MLS# 24183052, provides additional information about the front home.
Key Highlights
- Detached commercial building behind a single‑family residence on the same parcel
- Built in 1991 and zoned NX‑2
- Currently occupied by an owner's tire service business
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
$44,625
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
6.38%
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%
$892,500
$892.5K
Cap Rate 7%
$637,500
$637.5K
Cap Rate 9%
$495,833
$495.8K
Market Conditions
NOI Build-Up for 3,500 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
$84.0K $24.00/SF
− Vacancy
−$12.6K −$3.60/SF
EGI
$71.4K $20.40/SF
− OpEx
−$26.8K −$7.65/SF
NOI
$44.6K $12.75/SF
Area
Hartford, CT
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$892,500
Cap Rate 7%
$637,500
Cap Rate 9%
$495,833
Alternative Uses
Best Use
Mixed Use
$637.5K
$557.8K – $743.8K
NOI $44,625 @ 7.0% cap · market cap 6.38%
Second Best
Retail
$565.1K
$494.5K – $659.3K
NOI $39,558 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$1.04M
$912.9K – $1.22M
NOI $73,028 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,301
Businesses Nearby
83k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 38%
Electronics 2%
Home Improvements & Furnishings 2%
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
0.3 miles
Sunoco
Shops & Services
7,594 visits/mo
0.3 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
- Reno's Auto Body & Repair Inc — 99 Hanmer St, Hartford, CT 06114
- Pope Park Automotive Llc — 99 Hanmer St F, Hartford, CT 06114
- Mecca Auto Sales And Repairs — 585 Franklin Ave, Hartford, CT 06114
- Cadasse Auto Tinting LLC — 54 Bolton St, Hartford, CT 06114
- Pierce Buick — 599 Franklin Ave, Hartford, CT 06114
Frequently Asked Questions
What type of property is this?
Auto shop - Rear-lot commercial building paired with a front single-family residence on one parcel, with NX-2 zoning and Hartford access.
Where is this auto shop located?
The property is located at 524 Wethersfield Avenue Hartford, CT.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Detached commercial building behind a single‑family residence on the same parcel; Built in 1991 and zoned NX‑2; Currently occupied by an owner's tire service business
