Hartford Retail Investment
For Sale
Contact for pricing
649 Wethersfield Ave, Hartford, CT
Dollar General investment property with corporate guarantee in Hartford, CT.
Property Size7,500 SF
Lot Size0.83 Acres
Price / SF$292.51
Days on Market374
Property Features for 649 Wethersfield Ave
General Information
Standard status
Active
Size
7,500 SF
Lot size
0.83 Acres
Property subtype
RETAIL
Listing Agency:
HMX Realty Advisors - Corporate
(212) 972-7457
Listed By:
Robert James · License #10311201830
(212) 686-0072
Source:
Moodyscre
Added: Aug 26, 2025
Changed: Jul 6
Last Checked: Sep 2 at 7:27PM
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
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 = 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
$99,360
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
4.53%
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%
$1,987,200
$2.0M
Cap Rate 7%
$1,419,429
$1.4M
Cap Rate 9%
$1,104,000
$1.1M
Market Conditions
NOI Build-Up for 7,500 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
$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 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%
$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
NOI $99,360 @ 7.0% cap · market cap 4.53%
Second Best
Retail
$1.21M
$1.06M – $1.41M
NOI $84,767 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,488 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Victoria’s Market — 120 Webster St, Hartford, CT 06114
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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
