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    Property profile & analytics

    21 Oak St Hartford, CT 06106

    • Office buildings
    • 222,454 SF
    • 0.98 lot acres
    For Lease
    View listing
    $23 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0766450
    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

    • Kainen Escalera & Mc Hale PC / Law Firm
    • The Law Office of Ken Namnoum / Law Firm
    • Gerace & Associates / Law Firm
    • Cramer Richard S / Law Firm
    • DanaherLagnese, PC / Law Firm

    Property Details for 21 Oak St

    Year built
    1990
    Construction
    STEEL FRAME
    Lot size
    0.98 lot acres
    Property size
    222,454 SF
    Zone code
    MX-2
    Property type
    Office buildings
    APN
    HTFD M:225 B:435 L:106
    APU
    HTFDM225B435L106

    Description

    Capitol Place, located at 21 Oak Street in Hartford, Connecticut, 06106, offers prime Class A executive office space for lease. This prestigious building boasts multiple tenancy options, with a minimum leasable area of 1,000 square feet and a maximum contiguous space of 8,423 square feet. Currently, 15,522 square feet of office space is available for immediate occupancy. The building's central location within Hartford's Central Business District provides unparalleled convenience, placing it within walking distance of the Legislative Office Building, area courts, and the State Capitol. Its strategic position also ensures excellent access to major transportation arteries, including Interstates 84 and 91, and Connecticut Route 2. The building is ideal for businesses seeking a sophisticated and well-connected address in the heart of Connecticut's capital city. Three distinct spaces are currently available, ranging in size to accommodate various business needs. This presents a unique opportunity to secure high-quality office space in a highly desirable location. Inquire today to learn more about the available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,958,000
      Market price range: $9.88M - $20.6M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $12,955,000
      Current use
      COMMERCIAL (GENERAL)
      $15,085,000
      Change: +16% Conversion: Easy
      WAREHOUSE, STORAGE
      $12,410,000
      Change: -4% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $12,005,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hartford
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.6846
    Latitude
    41.7622
    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
    2023
    $370,603
    $765,310
    $4,609,640
    $5,374,950
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,858 SF

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    • Value Estimation
      $740,000
      19,342 SF

      205 Main St, Unit 211

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    • Value Estimation by Request
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      40 Grand St

      OFFICE BUILDING • 2,752 SF
      40 Grand St, Hartford, CT 06106-4608
      View Details
    • Value Estimation by Request
      4,986 SF

      102 Oak St

      OFFICE BUILDING • 4,986 SF
      102 Oak St, Hartford, CT 06106-1572
      View Details
    • Value Estimation by Request
      3,248 SF

      101 Oak St

      OFFICE BUILDING • 3,248 SF
      101 Oak St, Hartford, CT 06106-1571
      View Details
    • Value Estimation by Request
      3,470 SF

      95-97 Oak St

      OFFICE BUILDING • 3,470 SF
      95-97 Oak St, Hartford, CT 06106
      View Details

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    Similar Nearby for Lease

    • $23 SF/Yr
      28,410 SF

      Class A Office Space Available

      9,611 SF Class A office space for lease.
      21 Oak St, Hartford, CT 06106
      View Details
    • Contact for pricing

      Prime Commercial Spaces for Lease

      Commercial spaces for retail, restaurant, lounge, or office use.
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      View Details
    • $1,250 /Mo

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      Modern, flexible 1,000 sq ft commercial unit for rent.
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      Hartford Office Space For Lease

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      Hartford Office Space Available

      Office spaces for rent in Hartford, CT, available immediately.
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      View Details
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    21 Oak St
    Hartford, CT 06106
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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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