285 Broad StHartford, CT 06115

  • Industrial properties
  • 2.79 AC

Property Details for 285 Broad St

Lot size
2.79 AC
Zone code
MX-2
Property type
Industrial properties
APN
HTFD M:202 B:427 L:096
APU
HTFDM202B427L096

Description

This exceptional 286,415-square-foot office building, located at 285 Broad St, Hartford, CT 06115, presents a compelling repositioning opportunity. Constructed in 1928, this four-story, Class C building offers significant potential for redevelopment and lease-up. Currently, the property is 25% occupied by two tenants with near-term lease expirations. Tribune Broadcasting Hartford, LLC/TEGNA Inc., parent company of FOX61, occupies 53,000 square feet through November 2025, while Chicago Tribune Company LLC, parent of the Hartford Courant newspaper, leases 12,000 square feet through March 2026. The building's substantial size and prime Hartford location, within Hartford County, offer a unique chance to acquire a property at a discount to replacement cost. The multi-tenant structure, offered for sale by owner, presents a flexible investment opportunity with diverse future use potential. This is a net lease property. The building's traditional office layout provides a solid foundation for a variety of adaptive reuse scenarios. The property is situated in a vibrant area of Hartford, offering excellent access to transportation and amenities. This is a rare chance to acquire a significant piece of Hartford's commercial real estate landscape. The building's history and location combine to create a unique investment opportunity with substantial upside potential.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $22,982,144
    Hospitality
    $21,051,520
    Educational
    $17,514,618
    Medical
    $18,116,972
    Retail
    $27,244,962

Location Insight

City
Hartford
County
Hartford
State
Connecticut
Latitude
41.7652
Longitude
-72.6872
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
2024
$326,658
$646,100
$4,091,500
$4,737,600
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