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Property profile & analytics
FOR LEASE
Apartment buildings

50 Morgan St Hartford, CT 06120

293,441 SF 1.92 ac lot Built 1972
Entity Owned 5-yr Hold
Property ID
US15-0158965
Property summary
AI-generated overview

This exceptional 8,000 square foot retail space is located in the heart of downtown Hartford, Connecticut, at 50 Morgan St, zip code 06120. Situated on the ground floor of The Millennium building, home to 224 luxury apartments, this property boasts unparalleled visibility and access to a large, built-in customer base. The space is ideally suited for a restaurant or other retail business, featuring a 5,000 square foot dining area, a separate bar area, and a fully equipped kitchen including one freezer, two refrigerators, an oven-range, and a hood. A lower-level liquor storage area and restroom facilities are also included. Convenient amenities include private garage and surface parking for 380 vehicles. The location offers easy access to major attractions such as Dunkin' Donuts Stadium, XL Center, Hartford Stage, and the Connecticut Science Center, as well as convenient access to I-84 and I-91. The building is a multi-tenant property with a total of 29,344 square feet, and this space is part of a larger retail and industrial complex offering both refrigerated/cold storage and flex space options. This is a truly remarkable opportunity to establish a business in a thriving downtown location with excellent visibility and accessibility.

Property profile
Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (100+ UNITS)
Year built 1972
Construction STEEL FRAME
Total area 293,441 SF
Lot 1.92 ac (83,635 SF)
Zoning code DT-2
APN HTFD M:268 B:293 L:023
UPID US15-0158965
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
  • Red Lion Garage 187 Parking Lot & Garage
  • Apartments Hartford CT Apartment Building
  • The Millennium Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$35.98M
Blend (final) Blend
$30.36M
Owner & transaction history
Shelbourne Axela LLC · 5 yrs held
Shelbourne Axela LLC
since 2021
3 recorded transactions
2024
Price N/A
2021
Price N/A
2021
Price N/A
Zoning & alternative use
DT-2 · Hartford, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $50.2M +95.4%
Retail stores $29.6M +15.5%
Auto repair, garage $26.3M +2.4%
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