156 Franklin Ave, Unit 162 Hartford, CT 06114-1334

Property Details for 156 Franklin Ave

Year built

1940

Construction

FRAME

Lot size

0.48 lot acres

Property size

14,402 SF

Zone code

MS-2

Property type

Retail space

APN

HTFD M:251 B:676 L:154

APU

HTFDM251B676L154

Description

This exceptional investment opportunity presents a thriving multi-tenant commercial complex at 156 Franklin Avenue, Hartford, CT. Spanning 21,101 square feet on a 0.48-acre lot, this property boasts a diverse mix of established businesses, including a car wash, grocery store, seafood restaurant, and a two-story office building. The complex benefits from high visibility and strong foot traffic due to its prime location just minutes from downtown Hartford. Ample off-street parking is available for tenants and customers. Recent upgrades include a remodeled roof, updated storefronts, and a repaved rear lot. The property features natural gas heating and enjoys low operating expenses, resulting in a 5% capitalization rate. Current monthly rental income totals $14,500, comprised of $6,500 from the office building, $3,000 from the mini-mart, $2,500 from the seafood restaurant, and $2,500 from the car wash. The property is zoned MS-2, allowing for mixed-use potential. Further expansion opportunities exist, with the potential to add a fifth retail space on the first floor of the office building. This well-maintained complex offers a strong cash flow and represents a stable investment in a rapidly growing neighborhood. The asking price is $2,700,000.

Location Insight

City

Hartford

County

Hartford

State

Connecticut

Longitude

-72.6766

Latitude

41.747

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments