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Property profile & analytics
OFF-MARKET Estimated value $3,170,000
Office buildings

245 Locust St Hartford, CT 06114-2017

47,967 SF 3.54 ac lot Built 1968
Individually Owned 1-yr Hold ~ Est. High Equity
Property ID
US15-0701215
Property summary
AI-generated overview

This ±52,000 square foot industrial facility, situated on ±3.53 acres in Hartford, CT's South End, presents a compelling investment opportunity. Currently, approximately 30,000 square feet of space is available for lease or development, supplementing the income generated by existing long-term tenants. Built in 1968 and renovated in 1998, this single-story building offers versatile space suitable for various uses, including office, flex, educational, or manufacturing purposes. The property boasts ample parking for 200 vehicles, a convenient pick-up/drop-off area, and central air conditioning. Its prime location provides easy access to major transportation arteries like Route 15, I-84, and I-91, enhancing its appeal to a wide range of businesses. The property benefits from fiber optic connectivity and is surrounded by established businesses such as UPS, Pitney Bowes, and U-Haul, creating a strong and desirable business environment. The minimum divisible space is 30,000 square feet, with a maximum contiguous space of 30,000 square feet. This property offers a unique blend of established income and significant development potential.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1968
Construction FRAME
Total area 47,967 SF
Lot 3.54 ac (154,202 SF)
Zoning code ID-1
APN HTFD M:298 B:690 L:008
UPID US15-0701215
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • High Road School High School
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$3.17M
Owner & transaction history
Capitol Region Edu Counci · 1 yrs held
Capitol Region Edu Counci
since 2025
Last sale
$2.1M
7 recorded transactions
2025
$2.1M
2022
Price N/A
2001
Price N/A
1999
Price N/A
1999
Price N/A
1998
Price N/A
1998
$482,000
Zoning & alternative use
ID-1 · Hartford, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores $4.8M +34.5%
Auto repair, garage $4.3M +19.2%
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