Building Details

Year Built 1925

Listing Agency: Premier Properties of CT Show Phone

Listed By: CARMEN VALERIA PALACIOS-QUINTANA Show Phone

Source: Corcoran

Added: Jan 15 Changed: Aug 8 Last Checked: Sep 28 at 4:57AM

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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 Premier Properties of CT

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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 / Yr

$68,608

Cap Rate

9.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,372,160 $1.4M

Cap Rate 7%

$980,114 $980.1K

Cap Rate 9%

$762,311 $762.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,381 SF

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 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 (±1% cap)

NOI $72,597 @ 7.0% cap · market cap 9.68%

Second Best

Mixed Use

$980.1K

$857.6K – $1.14M (±1% cap)

NOI $68,608 @ 7.0% cap · market cap 9.15%

Theoretical Best

Office A

$1.60M

$1.40M – $1.87M (±1% cap)

NOI $112,275 @ 7.0% cap · market cap 14.97%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Florist Electrical Service Skin Care Clinic Furniture & Home Goods

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

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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.