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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    116 Ledyard St Hartford, CT 06114-1403

    • Showrooms
    • 18,947 SF
    • 1.18 lot acres
    OFF-MARKET
    Last Sale
    May 26, 2025
    $1,165,000
    Value Estimations
    $1,110,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-1065624
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • DURAFORM LTD / Concrete Contractor / Waterproofing Service

    Property Details for 116 Ledyard St

    Year built
    1968
    Construction
    STEEL FRAME
    Lot size
    1.18 lot acres
    Property size
    18,947 SF
    Zone code
    ID-1
    Property type
    Showrooms
    APN
    HTFD M:274 B:689 L:081
    APU
    HTFDM274B689L081

    Description

    This ±18,640 square foot industrial building presents a compelling investment opportunity in Hartford, Connecticut. Located at 116 Ledyard Street, this property sits on a half-acre lot and offers a versatile blend of flex and warehouse space, ideal for a variety of uses. Built in 1970, the building boasts a functional layout including three loading docks and three dock-high doors, each measuring 10' x 14'. The high ceilings, reaching 18 feet, provide ample vertical space for storage or specialized equipment. The property is zoned ID-1, allowing for a range of industrial and potentially related commercial activities. Parking is readily available, with a ratio of 0.9 spaces per 1,000 square feet. The asking price is $1,250,000, translating to a price per square foot of $67.06. This well-located Hartford property offers significant potential for both immediate occupancy and long-term investment growth. The property's features and zoning make it a highly attractive option for businesses seeking efficient and adaptable industrial space in a convenient location. The combination of ample space, loading capabilities, and favorable zoning regulations makes this a truly exceptional opportunity. The address is 116 Ledyard Street, Hartford, CT 06114.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,050,000
      ML approach
      $1,050,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,123,000
      Market price range: $1.00M - $1.77M
      AI Estimate
      $801,000
      Market price range: $619k - $1.36M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,380,000
      Current use
      AUTO REPAIR, GARAGE
      $1,695,000
      Change: +23% Conversion: Difficult
      OFFICE BUILDING
      $1,425,000
      Change: +3% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,405,000
      Change: +2% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hartford
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.6704
    Latitude
    41.7462
    CBSA code
    25540
    CBSA name
    HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $36,450
    $194,740
    $333,900
    $528,640
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $5,920,000
      191,384 SF

      40 Brainard Rd

      SHOW ROOM, WAREHOUSE • 191,384 SF
      40 Brainard Rd, Hartford, CT 06114-1604
      View Details
    • Value Estimation
      $2,410,000
      61,885 SF

      270 Locust St

      SHOW ROOM, WAREHOUSE • 61,885 SF
      270 Locust St, Hartford, CT 06114-2027
      View Details
    • Value Estimation
      $2,400,000
      25,561 SF

      237 Ledyard St

      SHOW ROOM, WAREHOUSE • 25,561 SF
      237 Ledyard St, Hartford, CT 06114-2007
      View Details
    • Value Estimation by Request
      2,000 SF

      739 Maple Ave

      SHOW ROOM, WAREHOUSE • 2,000 SF
      739 Maple Ave, Hartford, CT 06114-2315
      View Details
    • Value Estimation
      $2,445,000
      73,996 SF

      150 Mdw St

      SHOW ROOM, WAREHOUSE • 73,996 SF
      150 Mdw St, Hartford, CT 06114-1505
      View Details
    • Value Estimation by Request
      2,316 SF

      799 Wethersfield Ave

      SHOW ROOM, WAREHOUSE • 2,316 SF
      799 Wethersfield Ave, Hartford, CT 06114-3113
      View Details

    Similar Nearby for Sale

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      Hartford Storefront - Prime Location

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      Hartford Retail Investment Opportunity

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    • $350,000
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      Hartford Commercial Property For Sale

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      Hartford Automotive Repair Shop For Sale

      Commercial property suitable for automotive repair or other businesses.
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      Hartford Commercial Property Investment

      High-traffic location, automotive repair shop potential.
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    • $850,000
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    Similar Nearby for Lease

    • $6 SF/Yr
      5,000 SF

      Hartford Flex Space Available

      Flex space with showroom/office, drive-in door, and parking.
      221 Locust St, Hartford, CT 06114
      View Details
    • $12 SF/Yr
      6,000 SF

      Retail Flex Space For Lease

      Retail flex space with loading dock near I-91.
      284-312 Murphy Rd, Hartford, CT 06114
      View Details
    • $2,450 /Mo
      2,000 SF

      Commercial Space with Utilities Included

      2000 sq ft commercial space for lease with utilities included.
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      View Details
    • $2,700,000
      3,000 SF

      Versatile Commercial Space Near Downtown

      Office-style condo with storefront potential, near downtown Hartford.
      156-162 Franklin Ave, Hartford, CT 06114
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    • $8 SF/Yr
      10,990 SF

      Industrial/Flex Space For Lease

      Industrial/flex space featuring a dock, drive-in door, and office.
      237 Ledyard St, Hartford, CT 06114
      View Details
    • Contact for pricing
      149,282 SF

      Hartford Industrial Space for Lease

      149,282 SF industrial space available for lease in Hartford.
      121 Wawarme Ave, Hartford, CT 06114
      View Details
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    116 Ledyard St
    Hartford, CT 06114-1403
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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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