Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    219 W Service Rd Hartford, CT 6120

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    425,294 SF industrial facility with credit tenant.

    Type:Industrial
    Property size:
    425,294 SF
    Added:
    Jul 13, 2024
    Days on Market:
    646
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 219 W Service Rd

    General Information

    Standard status
    Active
    Size
    425,294 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1964

    We can help!

    Listing Contact
    Peter Nixon

    Listing agent Peter Nixon License #CA 00975548

    Listing office Newcastle Properties Group

    Listing date Jul 13, 2024

    Source Crexi

    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 Newcastle Properties Group

    Overview

    Hartford Industrial Facility For Sale

    This 425,294 square foot industrial facility is located in central Hartford. The property features below-market rents and a high-quality facility. The tenant and subtenant are creditworthy. The facility is considered mission-critical and the business is recession-resistant. The facility is well below replacement cost.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Industrial properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hartford
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.6555928
    Latitude
    41.7956422

    Nearby Similar for Sale

    • $450,000
      3,750 SF

      Versatile Commercial Property in Hartford

      Adaptable commercial space ideal for retail, office, or light operations.
      241 Ledyard Street, Hartford, CT 06114
      View Details
    • $450,000
      1,290 SF

      Hartford Commercial Property For Sale

      Versatile commercial property in Hartford, ideal for retail or office.
      241 Ledyard Street, Hartford, CT 06114
      View Details
    • $369,999
      6,467 SF

      Hartford Multifamily Renovation Opportunity

      Six-unit multifamily property requiring full renovation in Hartford, Connecticut.
      114-116 Mather Street, Hartford, CT 06120
      View Details
    • $1,700,000
      25,298 SF

      Hartford Commercial Office Building For Sale

      Turnkey commercial office building in Hartford's West End.
      631 Farmington Avenue, Hartford, CT 06105
      View Details
    • $539,000
      4,680 SF

      Hartford Medical Office Investment

      Fully leased medical office building with on-site parking.
      36-38 Grand Street, Hartford, CT 06106
      View Details
    • $770,000
      5,381 SF

      Mixed-Use Investment Opportunity, Hartford

      Two buildings, six units, commercial and residential income potential.
      763-767 Park Street, Hartford, CT 06106
      View Details
    • $390,000
      2,797 SF

      Hartford Triplex with Investment Potential

      Three-family residence in Hartford, offering investment and owner-occupancy options.
      173 Benton Street, Hartford, CT 06114
      View Details
    • $699,888
      4,514 SF

      Hartford Multifamily Investment Opportunity

      Seven-unit multifamily property in Hartford's West End.
      187 Whitney Street, Hartford, CT 06105
      View Details
    • $315,000
      3,611 SF

      Hartford Four-Family Investment Opportunity

      Four-family property in Hartford with income potential.
      58-60 Benton Street, Hartford, CT 06114
      View Details
    • $649,900
      6,268 SF

      Hartford Multifamily Townhouse-Style Residence

      Four-unit townhouse-style multifamily residence with value-add opportunity.
      71 Williams Street, Hartford, CT 06120
      View Details
    • $449,900
      2,798 SF

      Remodeled Three-Family Home in Hartford

      Well-maintained, remodeled three-family home in Hartford's South End.
      28-30 Warner Street, Hartford, CT 06114
      View Details
    • $189,900
      2,618 SF

      Spacious Multifamily Property in Hartford

      Multifamily property with renovation potential in a convenient location.
      4 George Street, Hartford, CT 06114
      View Details

    FAQs

    What type of property is this?
    Industrial property - 425,294 SF industrial facility with credit tenant.
    Where is this industrial property located?
    The property is located at 219 W Service Rd Hartford, CT.
    What is the asking price?
    The asking price for this property is $35,790,000.
    What are key features of this property?
    This property features: Below market rents offer significant upside potential.; Central Hartford location provides easy access to amenities.; Credit tenant & subtenant ensure reliable income stream.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Peter Nixon
    Real Estate License ID: CA 00975548
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!