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    2576 Main St Hartford, CT 06120
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    2576 Main St Hartford, CT 06120

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    • Retail properties & Spaces
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tee's Boutique / Clothing & Fashion Store

    Property Details for 2576 Main St

    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional retail/office space, located at 2576 Main Street in Hartford, Connecticut, 06120, presents a unique opportunity for a discerning business. Currently configured as a clothing store, this single-tenancy property offers versatile potential for a variety of uses. The zoning is designated for retail, making it ideal for a storefront operation. The property type is classified as both retail and office, accommodating businesses requiring both retail space and office functionality. Subtypes include Creative Office and Traditional Office, providing flexibility in layout and design. The space will be available for lease beginning November 1st. Its convenient Main Street location in Hartford, Connecticut offers excellent visibility and accessibility for customers. The property's latitude and longitude coordinates are 41.78918178723349 and -72.67178013213116 respectively. Further details are available upon request. This is an excellent opportunity to establish or expand your business in a thriving Hartford location. Don't miss out on this prime retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hartford
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.6718
    Latitude
    41.7892

    Comparable in this City

    • Value Estimation by Request
      211 SF

      1577 Main St

      CONDOMINIUM OFFICES • 211 SF
      1577 Main St, Hartford, CT 06120
      View Details
    • Value Estimation
      $4,590,000
      142,797 SF

      3580 Main St Ste, Unit 2

      CONDOMINIUM OFFICES • 142,797 SF
      3580 Main St Ste, Hartford, CT 06120-1121
      View Details
    • Value Estimation by Request
      6,634 SF

      3580 Main St, Unit 3

      CONDOMINIUM OFFICES • 6,634 SF
      3580 Main St, Hartford, CT 06120-1121
      View Details
    • Value Estimation
      $4,405,000
      137,238 SF

      3580 Main St Ste, Unit 1

      CONDOMINIUM OFFICES • 137,238 SF
      3580 Main St Ste, Hartford, CT 06120-1131
      View Details
    • Value Estimation
      $580,000
      12,370 SF

      71 Fishfry St

      OFFICE BUILDING • 12,370 SF
      71 Fishfry St, Hartford, CT 06120-1203
      View Details
    • Value Estimation
      $800,000
      15,921 SF

      2995 Main St

      OFFICE BUILDING • 15,921 SF
      2995 Main St, Hartford, CT 06120-1403
      View Details

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    2576 Main St
    Hartford, CT 06120
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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.

    More about this property
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