Storefront
New
For Sale
$349,900
691 Blue Hills Ave, Hartford, CT 06112
A 930-square-foot storefront built in 1950 sits within an established business district.
Property Size930 SF
Price / SF$376.24
Days on Market5
Property Features for 691 Blue Hills Ave
General Information
Standard status
Active
Size
930 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Year Built
1950
Listing Agency:
Chestnut Oak Associates
(860) 716-7168
Listed By:
Linda Edelwich Team
(860) 818-3610
Source:
Agentsonmain
Added: Oct 1
Changed: Oct 4
Last Checked: Oct 4 at 9:43AM
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 Chestnut Oak Associates
Investment Insights
Based on property information with market context.
This 930-square-foot storefront property was built in 1950. Its established business-district setting is identified as having substantial daily traffic. Major highways and emergency services are described as minutes away.
Key Highlights
- 930‑square‑foot storefront property
- Built in 1950
- Located in an established business district
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
$10,511
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
3.00%
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%
$210,220
$210.2K
Cap Rate 7%
$150,157
$150.2K
Cap Rate 9%
$116,789
$116.8K
Market Conditions
NOI Build-Up for 930 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
$16.7K $18.00/SF
− Vacancy
−$1.7K −$1.85/SF
EGI
$15.0K $16.15/SF
− OpEx
−$4.5K −$4.84/SF
NOI
$10.5K $11.30/SF
Area
Hartford, CT
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$210,220
Cap Rate 7%
$150,157
Cap Rate 9%
$116,789
Alternative Uses
Best Use
Retail
$150.2K
$131.4K – $175.2K
NOI $10,511 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$277.2K
$242.6K – $323.4K
NOI $19,404 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 87%
Electronics 13%
Family Dollar
Shops & Services
9,625 visits/mo
0.2 miles
Metro by T-Mobile
Electronics
1,392 visits/mo
0.2 miles
Demographics for 06112, CT
23,189
Population
8,785
Households
2.6
Avg Household Size
32
Median Age
10%
College-Educated
77%
High-School Grad
3.0 sq mi
ZIP Area
7,730
Density / Sq Mi
$47,010
Median Household Income
$29,383
Median Earnings
$1,229
Median Rent
$203,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Hartford, CT
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Frequently Asked Questions
What type of property is this?
Storefront property - A 930-square-foot storefront built in 1950 sits within an established business district.
Where is this storefront property located?
The property is located at 691 Blue Hills Ave Hartford, CT.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 930‑square‑foot storefront property; Built in 1950; Located in an established business district
