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    West Hartford Retail Investment Title is generated by Realmo AI

    962 Farmington Avenue, West Hartford, CT 06107

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    For Sale
    $9,000,000

    Fully leased retail building in West Hartford's premier location.

    Type:retail.street_retail
    Property size:
    12,060 SF
    Price / SF:
    $746/SF
    Added:
    Mar 7, 2026
    Days on Market:
    91
    Last Refresh:
    Mar 7 at 7:02 pm

    Property Features for 962 Farmington Avenue

    General Information

    Standard status
    Active
    Size
    12,060 SF
    Property subtype
    retail.street_retail

    Building Details

    Year Built
    1947

    We can help!

    Listing Contact
    Brandon Dickason
    Brandon Dickason

    Listing agent Brandon Dickason License #9523705-RE-S

    Listing office Avison Young - US - MA - Boston

    Listing date Mar 7, 2026

    Source Avisonyoung

    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 Avison Young - US - MA - Boston

    HighLights

    • 100% leased to established restaurants, including Chipotle and Max's Oyster Bar, providing stable cash flow.
    • Located at the gateway to West Hartford Center, a premier upscale retail and dining destination.
    • Long‑term tenants with occupancies dating back 15 to 35 years, demonstrating tenant stability.
    • Located in an affluent area with a high median household income and a large population.
    • Weighted average remaining lease term of five and a half years with staggered lease expirations.
    • Abundant and accessible parking available.

    Overview

    Located at the gateway to West Hartford Center, 962-966 Farmington Avenue is a 12,060 square foot retail building that is 100% leased to three restaurant tenants: Chipotle Mexican Grill, Max’s Oyster Bar, and Ichiro Hibachi and Sushi Bar. These long-term tenants have been operating at the property since between 1989 and 2009. The property is located by the intersection of Farmington Avenue and Main Street, which serves as the gateway to West Hartford Center, the primary retail corridor of Downtown West Hartford. This location features shopping, restaurants, and a hip environment. West Hartford Center features accessible parking provided by municipal on-street parking, surface lots and garages, including the +/- 270 space Brace Road lot directly accessible behind the property. West Hartford has a population of 63,973 people with a median household income of over $105,000. Additionally, 233,043 people live within a five-mile radius of the property. The property provides cash flow with a weighted average remaining lease term of five and a half years and staggered lease expirations. West Hartford is an affluent suburb of Hartford, home to the University of Hartford and the University of Saint Joseph. The area prides itself on its attractiveness, citizen involvement, public safety, downtown, retail and restaurant amenities, and education system.
    Location Intelligence

    Current Use by Public Records

    Ichiro Hibachi & Sushi Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    West Hartford
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.7429086
    Latitude
    41.7620233

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    FAQs

    What type of property is this?
    Retail space - Fully leased retail building in West Hartford's premier location.
    Where is this retail space located?
    The property is located at 962 Farmington Avenue West Hartford, CT.
    What is the asking price?
    The asking price for this property is $9,000,000.
    What are key features of this property?
    This property features: 100% leased to established restaurants, including Chipotle and Max's Oyster Bar, providing stable cash flow.; Located at the gateway to West Hartford Center, a premier upscale retail and dining destination.; Long‑term tenants with occupancies dating back 15 to 35 years, demonstrating tenant stability.
    (617) 970-5661
    We can help!
    Listing Contact
    Brandon Dickason
    Brandon Dickason
    Real Estate License ID: 9523705-RE-S
    Learn More
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    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.

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