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    109 Main St West Hartford, CT 06107
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    109 Main St West Hartford, CT 06107

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    • Apartment buildings
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    Cap Rate Potential
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    Current Use by Public Records

    • ACI Flooring LLC / General Contractor / Renovation Specialist
    • Inner Wellness Counseling Group / Association / Organization

    Property Details for 109 Main St

    Property type
    Apartment buildings

    Description

    This exceptional investment opportunity presents a portfolio of two multifamily properties totaling 61 units, ideally situated in West Hartford, Connecticut, at 109 South Main Street and 633 Prospect Avenue. Located in a highly desirable and affluent community, these buildings boast a strong rental history and consistently high occupancy rates. Recent capital improvements include new roofs on both buildings, the installation of new, highly efficient Lochinvar gas furnaces, and the replacement of all windows. Each building offers residents the convenience of air conditioning, on-site laundry facilities, a lobby with elevator access, and ample covered parking secured by an electronic gate and keypad entry. Additional income is generated from extra parking spaces and the laundry facilities. The properties benefit from their proximity to major employment centers, and are within walking distance of upscale shopping and fine dining establishments. This portfolio represents a rare chance to acquire a well-maintained, high-performing multifamily asset in a prime West Hartford location. The properties are situated in Hartford County, CT, zip code 06107. The buildings are equipped with modern amenities designed to attract and retain high-quality tenants, contributing to the strong financial performance of this investment. This offering presents a compelling opportunity for investors seeking a stable and appreciating asset in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    West Hartford
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.7441
    Latitude
    41.7547

    Comparable in this City

    • Value Estimation
      $1,510,000
      12,858 SF

      3 Arlington Rd

      APARTMENT HOUSE (5+ UNITS) • 12,858 SF
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    • Value Estimation by Request
      3.50 Acres

      71 Loomis Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 3.50 Acres
      71 Loomis Dr, West Hartford, CT 06107-2015
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    • Value Estimation by Request
      5,236 SF

      13 Dl St

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,236 SF
      13 Dl St, West Hartford, CT 06107
      View Details
    • Value Estimation by Request
      3,976 SF

      4 Arlington Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,976 SF
      4 Arlington Rd, West Hartford, CT 06107-1601
      View Details
    • Value Estimation by Request
      0.88 Acres

      923 Farmington Ave

      VACANT COMMERCIAL LAND • 0.88 Acres
      923 Farmington Ave, West Hartford, CT 06107-2202
      View Details
    • Value Estimation
      $1,910,000
      34,200 SF

      977 Farmington Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 34,200 SF
      977 Farmington Ave, West Hartford, CT 06107-2119
      View Details

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    109 Main St
    West Hartford, CT 06107
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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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