Property summary
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
VerifiedCap rate & NOI
Current use
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Law Firm Security Service
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Charitable Organization Social Service Agency
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Real Estate Agency
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Physician
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Big Box & Wholesale Store
Location
Value estimations
Owner & transaction history
Zoning & alternative use
es, hospitals, and in other areas where low-scale mixed-use development is appropriate. These districts include a mix of compatible office or residential uses in the General Building Type and residential building types.…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
MX-1 · Hartford, CTes, hospitals, and in other areas where low-scale mixed-use development is appropriate. These districts include a mix of compatible office or residential uses in the General Building Type and residential building types.…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
es, hospitals, and in other areas where low-scale mixed-use development is appropriate. These districts include a mix of compatible office or residential uses in the General Building Type and residential building types.…
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