Property profile

450 Franklin Ave Hartford, CT 06114

FOR SALE
Other investment properties
Property ID
US15-0740138
15,429 SF 0.31 ac lot Built 1915
Individually Owned 21-yr Hold Free & Clear
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450 Franklin Ave, Hartford, CT 06114 For Sale
$2,599,000 15,429 SF
450 Franklin Ave, Hartford, CT 06114
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Property summary

AI-generated overview

A mixed-use building totaling 15,429 square feet, configured with 12 one-bedroom apartments and 5 commercial units. The property underwent a complete renovation in the late 1990s, including replacement of interior wall finishes in apartment units and common hallways, new doors and door frames, replacement of windows and window frames, and replacement of all electric and gas meters. Parking for residential tenants totals 12 spaces, located along the side of the building and on the street. The building’s commercial space has historically included uses such as a Chinese restaurant, grocery store, laundromat, check-cashing business, and nail salon. The property has pavement at the front area and a back parking lot that have been maintained with surface repairs and protective coatings.

Property profile

Verified
Property type Other investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1915
Construction FRAME
Total area 15,429 SF
Lot 0.31 ac (13,608 SF)
Zoning code MS-2
APN HTFD M:253 B:802 L:267
UPID US15-0740138

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant
  • Restaurant
  • Dental Office

Location

450 Franklin Ave Hartford, CT 06114
Hartford metro Census 502400 HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$405k
CAP Approach CAP
by Request
Comparable Approach Comparable
$925k
Blend (final) Blend
$405k

Owner & transaction history

since 2004
4 recorded transactions
2004
$18,500
1998
Price N/A
1996
$120,000
1991
Price N/A

Zoning & alternative use

MS-2 · Hartford, CT
Zoning description

ldings and houses converted to commercial uses, all fronting pedestrian-friendly sidewalks. Ground floor storefronts contain a mix of retail and service uses, while upper stories may include office and residential uses.…

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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