Mixed-Use Investment Opportunity in
For Sale
$750,000
763-767 Park Street, Hartford, CT 06106
Two buildings, six units, prime location, turnkey income.
Property Size5,381 SF
Lot Size0.08 Acres
Price / SF$139.38
Days on Market209
Property Features for 763-767 Park Street
General Information
Standard status
Active
Size
5,381 SF
Lot size
0.08 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,291
Amenities
Central air
Baseboard Heating
Flat Roof
Level Lot
Window Unit Cooling
Building Details
Year Built
1925
Listing Agency:
Premier Properties of CT
(860) 756-0980
Listed By:
CARMEN VALERIA PALACIOS-QUINTANA
Source:
Corcoran
Added: Jan 15
Changed: Aug 8
Last Checked: Apr 5 at 9:11PM
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 Premier Properties of CT
Investment Insights
Based on property information with market context.
This mixed-use investment opportunity features two buildings on one lot, comprising a total of 6 units: 2 commercial and 4 residential. The front building, spanning approximately 3,635 sq ft, includes a jewelry storefront with a long-term tenant of over 20 years, and a laundromat storefront owned and operated by the seller. Above the commercial space, there are two residential units, featuring 4 bedrooms on the second floor and 3 bedrooms on the third floor. The rear building is a two-family residential property totaling approximately 1,746 sq ft, offering two-bedroom apartments on both the first and second floors. Both buildings feature separate entrances and fully independent utilities. The laundromat business, equipped with 10 washers and dryers, is included in the sale. The property is located in Hartford.
Key Highlights
- Mixed‑use property with 6 units offering diverse income streams.
- Turnkey laundromat business included, providing immediate income.
- Long‑term jewelry store tenant (20+ years) ensures stable commercial income.
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
$68,608
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
9.15%
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%
$1,372,160
$1.4M
Cap Rate 7%
$980,114
$980.1K
Cap Rate 9%
$762,311
$762.3K
Market Conditions
NOI Build-Up for 5,381 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
$129.1K $24.00/SF
− Vacancy
−$19.4K −$3.60/SF
EGI
$109.8K $20.40/SF
− OpEx
−$41.2K −$7.65/SF
NOI
$68.6K $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%
$1,372,160
Cap Rate 7%
$980,114
Cap Rate 9%
$762,311
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$907.5K – $1.21M
NOI $72,597 @ 7.0% cap · market cap 9.68%
Second Best
Mixed Use
$980.1K
$857.6K – $1.14M
NOI $68,608 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,275 @ 7.0% cap · market cap 14.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,223
Businesses Nearby
Explore this area
Business Placement
Demographics for 06106, CT
38,036
Population
16,938
Households
2.2
Avg Household Size
33
Median Age
17%
College-Educated
70%
High-School Grad
4.2 sq mi
ZIP Area
9,056
Density / Sq Mi
$47,542
Median Household Income
$31,395
Median Earnings
$1,237
Median Rent
$201,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings, six units, prime location, turnkey income.
Where is this mixed-use property located?
The property is located at 763-767 Park Street Hartford, CT.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Mixed‑use property with 6 units offering diverse income streams.; Turnkey laundromat business included, providing immediate income.; Long‑term jewelry store tenant (20+ years) ensures stable commercial income.
