454 Park St Hartford, CT 06106
Property profile & analytics
454 Park St Hartford, CT 06106
- Office buildings
- 13,475 SF
- 0.30 lot acres
Property ID
US15-0123230
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.
Location Intelligence
Current Use by Public Records
- Significant Hair Boutique / (Bike/Boat/Book/etc) Store / Cosmetic Store
- PERSEVERANCE AUTO REPAIR / Auto Repair Shop
Property Details for 454 Park St
- Year built
- 1895
- Construction
- FRAME
- Lot size
- 0.30 lot acres
- Property size
- 13,475 SF
- Zone code
- MS-1
- Property type
- Office buildings
- APN
- HTFD M:226 B:440 L:113
- APU
- HTFDM226B440L113
Description
This exceptional value-add opportunity presents a 13,475 square foot mixed-use property located at 454 Park St, Hartford, CT 06106. The building, constructed in 1895 and boasting two stories, sits on a 13,230 square foot lot and is zoned MS-1, permitting diverse uses. Currently operating at 65% occupancy with three tenants, the property generates a net operating income (NOI) of $61,301, yielding an 11.17% cap rate. A pro-forma analysis projects a significantly improved NOI of $91,108 and a 16.60% cap rate, highlighting the substantial upside potential. The asking price is $549,000, translating to $44.53 per square foot. The property comprises a mix of flex, office, and retail spaces, including approximately 4,650 square feet of flex space previously used as a nightclub and mechanics space. Its prime location on Park Street ensures high visibility and excellent pedestrian and vehicular traffic. The building's historic character and multiple income-producing units (five total, including one medical and two retail spaces) make it an attractive investment for those seeking a diverse portfolio addition. This property offers a unique blend of historical charm and modern investment potential in a thriving Hartford location. The building's strong potential for high foot traffic and its suitability for retail or street retail investment further enhance its appeal.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $550,000
- ML approach
- $550,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $626,000
Market price range: $598k - $1.25M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $785,000 Current use
- COMMERCIAL (GENERAL)
- $915,000 Change: +16% Conversion: Easy
- WAREHOUSE, STORAGE
- $750,000 Change: -4% Conversion: Difficult
- INDUSTRIAL (GENERAL)
- $725,000 Change: -7% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Hartford
- County
- Hartford
- State
- Connecticut
- Longitude
- -72.6842
- Latitude
- 41.7583
- 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
2024
$23,859
$37,030
$301,350
$338,380
-
$0.00
$0.00
$0.00
