For Sale
$1,295,000
781 Farmington Ave, West Hartford, CT 06119
Turn-key 3-unit mixed-use building with on-site parking, city services, and extensive window upgrades.
Property Size4,368 SF
Price / SF$296.47
Days on Market50
Property Features for 781 Farmington Ave
General Information
Standard status
Active
Property type
Multifamily properties, Mixed-use properties, Residential income properties
Size
4,368 SF
Class
B
Total Parking Spaces
7
Elevators
No
Building Details
Year Built
1922
Year Renovated
2025
Stories
3
Units
3
Listed By:
Amy Lapierre
(203) 903-1950
Added: Aug 5
Investment Insights
Based on property information with market context.
Key Highlights
- Mixed Use RM‑O Zoning / Excellent visibility / Strong all‑day traffic approx 16000 / 5 mile radius demographics: 250,149 population with 99231 households at $100.7K avg household 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
$58,930
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
4.55%
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%
$1,178,600
$1.2M
Cap Rate 7%
$841,857
$841.9K
Cap Rate 9%
$654,778
$654.8K
Market Conditions
NOI Build-Up for 4,368 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
$113.7K $26.04/SF
− Vacancy
−$6.6K −$1.51/SF
EGI
$107.1K $24.53/SF
− OpEx
−$48.2K −$11.04/SF
NOI
$58.9K $13.49/SF
Area
Hartford, CT
Vacancy
5.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$1,178,600
Cap Rate 7%
$841,857
Cap Rate 9%
$654,778
Alternative Uses
Best Use
Apartment 5plus
$841.9K
$736.6K – $982.2K
NOI $58,930 @ 7.0% cap · market cap 4.55%
Second Best
Mixed Use
$795.6K
$696.2K – $928.2K
NOI $55,692 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,138 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,216
Businesses Nearby
Explore this area
Business Placement
Demographics for 06119, CT
14,843
Population
7,206
Households
2.1
Avg Household Size
37
Median Age
68%
College-Educated
95%
High-School Grad
2.1 sq mi
ZIP Area
7,068
Density / Sq Mi
$105,522
Median Household Income
$63,122
Median Earnings
$1,646
Median Rent
$361,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Turn-key 3-unit mixed-use building with on-site parking, city services, and extensive window upgrades.
Where is this multifamily property located?
The property is located at 781 Farmington Ave West Hartford, CT.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Mixed Use RM‑O Zoning / Excellent visibility / Strong all‑day traffic approx 16000 / 5 mile radius demographics: 250,149 population with 99231 households at $100.7K avg household income.
