454 Park St Hartford, CT 06106

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.