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Property profile & analytics
OFF-MARKET Estimated value $1,020,000
Office buildings

60 Gillett St Hartford, CT 06105-2637

28,820 SF 0.62 ac lot Built 1963
Entity Owned 7-yr Hold ~ Est. High Equity
Property ID
US15-0809641
Property summary
AI-generated overview

This exceptional Hartford, CT investment portfolio comprises three properties located on Gillett Street, offering significant potential for high returns. The centerpiece is 60 Gillett Street, a five-story, 28,847 square foot office building situated on approximately 0.62 acres. Currently undergoing rezoning for conversion into a 45-unit apartment complex (pending city approval), this project will include approximately 13 studio and 32 one-bedroom units, and a full basement. The building features an elevator and 46 surface parking spaces. Complementing this is 81 Gillett Street, a three-story, 15,100 square foot free-standing medical office building on approximately 0.35 acres. This fully sprinklered building includes one elevator, 20 covered and 20 surface parking spaces. Pending city approval, it is proposed for rezoning and expansion into a 42-unit apartment complex with an additional story. Finally, 83 Gillett Street provides an additional parking lot currently supporting 81 Gillett, with plans for an additional 72 apartment units. This portfolio presents a unique opportunity to capitalize on the growing demand for residential properties in Hartford, with the potential for substantial returns through both immediate income generation and future development. The properties are strategically located near St. Francis Hospital and other medical facilities, further enhancing their appeal and investment potential. All properties are located in Hartford, CT, zip code 06105.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1963
Construction STEEL FRAME
Total area 28,820 SF
Lot 0.62 ac (27,142 SF)
Zoning code MX-1
APN HTFD M:179 B:318 L:004
UPID US15-0809641
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
  • Mcgregor Investigations Law Firm Security Service
  • Catholic Family Services Charitable Organization Social Service Agency
  • Hartford CRE Holding Co Llc Real Estate Agency
  • Ms. Olga Colon Physician
  • Genuine Creations Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$615k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.28M
Blend (final) Blend
$1.02M
Owner & transaction history
Bsd LLC · 7 yrs held
Bsd LLC
since 2018
7 recorded transactions
2023
Price N/A
2018
$900,000
2012
$370,000
2011
$1.1M
2006
$400,000
1995
Price N/A
1992
Price N/A
Zoning & alternative use
MX-1 · Hartford, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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