Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Historic Mixed-Use Hartford Property Title is generated by Realmo AI

    64 Union Pl, Hartford, CT 06103

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Centrally located mixed-use property with first-floor commercial space.

    Type:Retail, Restaurant, Office
    Added:
    Jan 3, 2023
    Days on Market:
    1227
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 64 Union Pl

    General Information

    Standard status
    Active
    Property subtype
    Retail, Restaurant, Office

    Building Details

    Year Built
    1910

    Spaces For Lease

    at 64 Union Pl Contact us

    Unit 80 $16 /Mo

    Size
    1,912 SF
    Type
    Retail, Restaurant, Office
    Contact us

    Unit 76 $16 /Mo

    Size
    1,290 SF
    Type
    Retail, Restaurant, Office
    Contact us

    Unit 84 - Former Federal Cafe $13 /Mo

    Size
    1,550 SF
    Type
    Retail, Restaurant, Office
    Corner retail, bar, or restaurant unit for lease at Union Place and Church Street...
    show more
    Contact us

    We can help!

    Listing Contact
    Paul Bongiorni
    Paul Bongiorni

    Listing agent Paul Bongiorni License #9575704

    Listing office Pioneer CRE

    Listing date Jan 3, 2023

    Source Crexi

    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 Pioneer CRE

    HighLights

    • Prime downtown Hartford location directly across from Union Station.
    • Mixed‑use property with first‑floor commercial space and 48 residential apartments.
    • Historic building (built in 1910) offering unique character.
    • Fast and easy access to area highways.
    • Close proximity to key Hartford attractions.
    • Surrounded by key Hartford businesses, hotels, dining, and entertainment.

    Overview

    This historic mixed-use property is centrally located in downtown Hartford, featuring first-floor commercial space. Situated directly across from Union Station’s commuter rail and CTfastrak transportation hub, the property offers convenient access to area highways. Its location provides close proximity to the XL Center, Hartford Stage, Bushnell Park, and the state capitol building. The surrounding area includes key Hartford businesses, hotels, dining establishments, and local entertainment. The property also incorporates 48 residential apartments.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Law Firm Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hartford
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.6811436
    Latitude
    41.7695525

    Nearby Similar for Lease

    • $3,400/Mo

      Commercial Space in Hartford, CT

      Versatile commercial space suitable for various business types.
      509 Wethersfield Avenue, Hartford, CT 06114
      View Details
    • $1,200/Mo

      Hartford Office Space For Rent

      Third-floor office space near Downtown Hartford and I-91.
      198 Wethersfield Avenue, Hartford, CT 06114
      View Details
    • $1,200/Mo

      Hartford Commercial Space For Rent

      First floor commercial space with private entrances in Hartford, CT.
      377 Franklin Avenue, Hartford, CT 06114
      View Details
    • $9 SF/Yr

      Retail Space on Busy Street

      Retail space available for lease on a busy street.
      760 Broad Street, Hartford, CT 06106
      View Details
    • $18 SF/Yr

      High-Visibility Corner Commercial Property

      Prime Hartford location with high traffic and versatile use.
      593 Farmington Avenue, Hartford, CT 06105
      View Details
    • $825/Mo

      Hartford Office Space For Rent

      Single room office with shared common spaces and parking.
      61 Russ Street, Hartford, CT 06106
      View Details
    • Contact for pricing

      Renovated Second-Floor Office/Retail Space

      Move-in ready, renovated 860 sq ft space on Franklin Avenue.
      432 Franklin Ave 2nd Floor, Hartford, CT 06114
      View Details
    • $3,500/Mo

      Office Condo in Vibrant Neighborhood

      Office-style condo with flexible commercial uses near downtown Hartford.
      160-162 Franklin Ave, Hartford, CT 06114
      View Details
    • $2,800/Mo

      Professional Commercial Rental Space

      Versatile commercial space in a well-maintained building with ample light.
      454 Park St, Hartford, CT 06106
      View Details
    • Contact for pricing

      Adaptable Commercial Space in Hartford

      Versatile 1,600 sq ft commercial space in prime location.
      554 Wethersfield Ave, Hartford, CT 06114
      View Details
    • Contact for pricing

      Hartford Commercial Space For Lease

      Former bar/restaurant space available in downtown Hartford.
      64-84 Union Pl 76, Hartford, CT 06154
      View Details
    • Contact for pricing

      Retail Space Near Park Street

      Retail space available on a busy street near Park Street.
      760 Broad St, Hartford, CT 06106
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Centrally located mixed-use property with first-floor commercial space.
    Where is this mixed-use property located?
    The property is located at 64 Union Pl Hartford, CT.
    What are key features of this property?
    This property features: Prime downtown Hartford location directly across from Union Station.; Mixed‑use property with first‑floor commercial space and 48 residential apartments.; Historic building (built in 1910) offering unique character.
    (413) 459-0570 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Paul Bongiorni
    Paul Bongiorni
    Real Estate License ID: 9575704
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    64 Union Pl, Hartford, CT 06103
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!