Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    420 Franklin Ave Hartford, CT 06114-2518

    • Investment properties
    • 8,110 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $365,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-1328665
    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

    • Investment properties

    Property Details for 420 Franklin Ave

    Year built
    1954
    Construction
    FRAME
    Lot size
    0.23 lot acres
    Property size
    8,110 SF
    Zone code
    MS-2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    HTFD M:253 B:685 L:247
    APU
    HTFDM253B685L247

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $442,000
      Market price range: $428k - $759k
      AI Estimate
      $315,000
      Market price range: $265k - $583k

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

    Location Insight

    • Map
    • Local Demand
    City
    Hartford
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.675
    Latitude
    41.7381
    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
    $14,344
    $39,900
    $168,140
    $208,040
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $355,000
      6,478 SF

      93-95 Maple Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 6,478 SF
      93-95 Maple Ave, Hartford, CT 06114
      View Details
    • Value Estimation
      $255,000
      2,574 SF

      819-821 Maple Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,574 SF
      819-821 Maple Ave, Hartford, CT 06114
      View Details
    • Value Estimation
      $410,000
      5,559 SF

      757-759 Maple Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 5,559 SF
      757-759 Maple Ave, Hartford, CT 06114
      View Details
    • Value Estimation
      $270,000
      4,002 SF

      735 Wethersfield Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,002 SF
      735 Wethersfield Ave, Hartford, CT 06114-3105
      View Details
    • Value Estimation
      $780,000
      8,639 SF

      719 Wethersfield Ave, Unit 725

      OFFICE/RESIDENTIAL (MIXED USE) • 8,639 SF
      719 Wethersfield Ave, Hartford, CT 06114-1931
      View Details
    • Value Estimation
      $350,000
      4,966 SF

      229-233 White St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,966 SF
      229-233 White St, Hartford, CT 06114
      View Details

    Similar Nearby for Sale

    • $250,000
      0.23 Acres

      Hartford Investment Opportunity

      Investment property for sale in Hartford, Connecticut.
      184 Franklin Ave, Hartford, CT 06114
      View Details
    • $450,000

      Well-Kept Three-Family with Garages

      Three-family property with brick exterior and two-car garages.
      15 Bond St, Hartford, CT 06114
      View Details
    • $5,300,000
      44,000 SF

      Hartford Storefront - Prime Location

      44,000 SF Retail Space, High ROI
      301 Murphy Rd, Hartford, CT 06114
      View Details
    • $3,200,000
      38,000 SF

      Leased Industrial Buildings For Sale

      Three industrial buildings totaling 38,000 SF on 3 acres.
      386-400 Ledyard St, Hartford, CT 06114
      View Details
    • $389,000

      Turnkey Hartford Two-Family Property

      Two spacious units, garage, ready for occupancy.
      218 Grandview Ter, Hartford, CT 06114
      View Details
    • $3,200,000
      38,000 SF

      Hartford Industrial Portfolio: 3 Buildings

      Three leased industrial buildings, high NOI.
      386 Ledyard St, Hartford, CT 06114
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      32,641 SF

      Hartford Warehouse with Retail Exposure

      32,641 SF Hartford warehouse space for lease.
      376 Ledyard St, Hartford, CT 06114
      View Details
    • $9 SF/Yr
      33,000 SF

      Hartford Warehouse and Showroom Space

      33,000 SF showroom and warehouse space available for lease.
      301 Murphy Rd, Hartford, CT 06114
      View Details
    • $10 SF/Yr
      1,322 SF

      Wethersfield Avenue Office Space Available

      South Hartford office building with highway access and ample parking.
      864 Wethersfield Ave, Hartford, CT 06114
      View Details
    • $2,200 /Mo

      Updated Office Suite For Rent

      Professionally updated office suite with flexible space and convenient location.
      901 Wethersfield Ave Office 2, Hartford, CT 06114
      View Details
    • $1,800 /Mo

      Remodeled Office Suite For Lease

      Newly remodeled 1,800 sq. ft. office suite for lease.
      901 Wethersfield Ave Office 1, Hartford, CT 06114
      View Details
    • $1,600 /Mo

      Hartford Two-Bedroom Apartment For Rent

      Updated 2-bedroom apartment in Hartford, convenient location.
      17 Roosevelt St, Hartford, CT 06114
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    420 Franklin Ave
    Hartford, CT 06114-2518
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.