Listing Agency: HMX Realty Advisors - Corporate Show Phone

Listed By: Robert James · License #10311201830 Show Phone

Source: Moodyscre

Added: Aug 26, 2025 Changed: Oct 7 Last Checked: Oct 16 at 12:02PM

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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 HMX Realty Advisors - Corporate

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Investment Insights

Based on property information with market context.

This retail property is located in Hartford, Connecticut, within the greater Hartford metropolitan area. The property is near Interstate 91, which experiences traffic counts exceeding 130,000 vehicles. The surrounding area has an average household income exceeding $70,000 within a 5-mile radius, and a population of over 279,000 within the same radius. The property is currently occupied by Dollar General, operating under a corporate guarantee. Dollar General is a publicly traded company on the NYSE (DG) with an S&P rating of “BBB-”, indicating an investment-grade credit rating. The lease has over 8 years remaining.

Key Highlights

• Dollar General Corporate Guarantee
• NYSE: DG | S&P Rating: “BBB-” Investment Grade
• Over 8 years remaining of lease term

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$99,360

Cap Rate

4.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,987,200 $2.0M

Cap Rate 7%

$1,419,429 $1.4M

Cap Rate 9%

$1,104,000 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,500 SF

Gross rent

$144.0K $19.20/SF

− Vacancy

−$11.5K −$1.54/SF

EGI

$132.5K $17.66/SF

− OpEx

−$33.1K −$4.42/SF

NOI

$99.4K $13.25/SF

Area

Hartford, CT

Vacancy

8.00%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,987,200

Cap Rate 7%

$1,419,429

Cap Rate 9%

$1,104,000

Alternative Uses

Best Use

Specialty Retail

$1.42M

$1.24M – $1.66M (±1% cap)

NOI $99,360 @ 7.0% cap · market cap 4.53%

Second Best

Retail

$1.21M

$1.06M – $1.41M (±1% cap)

NOI $84,767 @ 7.0% cap · market cap 3.86%

Theoretical Best

Office A

$2.24M

$1.96M – $2.61M (±1% cap)

NOI $156,488 @ 7.0% cap · market cap 7.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Dollar General Discount Store Western Union Bank KeyMe Locksmiths Locksmith

Suggested Use

Top Pick Real Estate Agency Skin Care Clinic Parking Lot & Garage Acupuncture Furniture & Home Goods (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,200

Businesses Nearby

93k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 56% Dining 34% Apparel 6% Home Improvements & Furnishings 3%

Wendy's Dining

14,676 visits/mo 0.2 miles

Burger King Dining

12,283 visits/mo 0.1 miles

Family Dollar Shops & Services

10,435 visits/mo 0.3 miles

Sunoco Shops & Services

7,594 visits/mo 0.1 miles

Dollar General Shops & Services

6,698 visits/mo 0.1 miles

Market

Vacancy Rate% for Retail in Hartford, CT

7.8% 2020

7.1% 2021

6.4% 2022

6.8% 2023

7.1% 2024

7.1% 2025

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Dollar General investment property with corporate guarantee in Hartford, CT.

Where is this grocery and convenience store located?

The property is located at 649 Wethersfield Ave Hartford, CT.

What is the asking price?

The asking price for this property is $2,193,846.

What are key features of this property?

This property features: Dollar General Corporate Guarantee; NYSE: DG | S&P Rating: “BBB-” Investment Grade; Over 8 years remaining of lease term