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    Property profile & analytics

    971 Farmington Ave West Hartford, CT 06107-2151

    • Investment properties
    • 16,296 SF
    • 1.13 lot acres
    OFF-MARKET
    Value Estimations
    $2,500,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0780332
    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.

    Current Use by Public Records

    • bartaco / Restaurant
    • Barcelona Wine Bar / Restaurant

    Property Details for 971 Farmington Ave

    Year built
    1938
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.13 lot acres
    Property size
    16,296 SF
    Zone code
    BC
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    WHAR M:F9 B:1891 L:971
    APU
    WHARMF9B1891L971

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,465,000
      6.5%
      $3,195,000
      7%
      $2,970,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,313,000
      Market price range: $772k - $2.31M
      AI Estimate
      $1,991,000
      Market price range: $593k - $1.99M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,785,000
      RETAIL STORES
      $1,645,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Hartford
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.7434
    Latitude
    41.761
    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
    2023
    $203,032
    $3,171,351
    $1,790,320
    $4,961,671
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,910,000
      34,200 SF

      977 Farmington Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 34,200 SF
      977 Farmington Ave, West Hartford, CT 06107-2119
      View Details
    • Value Estimation
      $1,720,000
      13,680 SF

      13 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 13,680 SF
      13 Main St, West Hartford, CT 06107-2407
      View Details
    • Value Estimation
      $2,655,000
      20,666 SF

      982 Farmington Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 20,666 SF
      982 Farmington Ave, West Hartford, CT 06107-4100
      View Details
    • Value Estimation by Request
      3.50 Acres

      71 Loomis Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 3.50 Acres
      71 Loomis Dr, West Hartford, CT 06107-2015
      View Details
    • Value Estimation by Request
      3,976 SF

      4 Arlington Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,976 SF
      4 Arlington Rd, West Hartford, CT 06107-1601
      View Details
    • Value Estimation by Request
      5,236 SF

      13 Dl St

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,236 SF
      13 Dl St, West Hartford, CT 06107
      View Details

    Similar Nearby for Sale

    • $1,985,000
      11,345 SF

      West Hartford Tenanted Office Building

      Fully tenanted office building near West Hartford Center.
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    • $9,000,000
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      West Hartford Retail Building For Sale

      High-end retail building 100% leased to three restaurant tenants.
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      Downtown Hartford Commercial Corner Property

      Highly visible commercial building in downtown Hartford with flexible layout.
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    • $2,650,000

      Waterside Lane Specialty Property

      Specialty property available for sale on Waterside Lane.
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    • $665,000

      Retail Property on Main Street

      Retail property for sale on Main Street in West Hartford.
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    • $745,000

      Specialty Property For Sale

      Specialty property available for purchase.
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    Similar Nearby for Lease

    • Contact for pricing
      2,304 SF

      West Hartford Retail/Restaurant Space

      Retail/Restaurant space available in West Hartford's Blue Back Square.
      65-69 Memorial Rd, West Hartford, CT 06107
      View Details
    • Contact for pricing
      4,732 SF

      Mixed-Use Property in West Hartford

      450,000 SF mixed-use property with retail and restaurants.
      66-115 Memorial Rd, West Hartford, CT 06107
      View Details
    • Contact for pricing
      3,244 SF

      Retail/Restaurant Space in West Hartford

      97,000 SF retail/restaurant space in mixed-use property.
      75 Isham Rd, West Hartford, CT 06107
      View Details
    • $1.19 SF/Yr
      7,545 SF

      West Hartford Office Space for Lease

      7,545 sq ft Office, Land in Capitol County
      639 Park Rd, West Hartford, CT 06107
      View Details
    • Contact for pricing
      4,460 SF

      West Hartford Center Mixed-Use Property

      Class A office and retail space in West Hartford Center.
      29 S Main St, West Hartford, CT 06107
      View Details
    • Contact for pricing
      52,000 SF

      West Hartford Center Retail Gem

      52,000 SF Newly Renovated Retail Building
      1007 Farmington Ave, West Hartford, CT 06107
      View Details

    Property Visit Statistics

    • Visits by month
      16.2k
    • Visitors by month
      15.2k
    • Avg Time on site
      80 min
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    971 Farmington Ave
    West Hartford, CT 06107-2151
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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