264 Farmington AveHartford, CT 06105

Property Details for 264 Farmington Ave

Year built

1928

Construction

FRAME

Lot size

0.29 AC

Property size (Sq ft)

12,414 SF

Zone code

MS-1

Property type

Investment properties

Property subtype

Live-work space

APN

HTFD M:179 B:319 L:048

APU

HTFDM179B319L048

Description

This exceptional investment opportunity presents a 12,414 square foot mixed-use brick building situated on a 0.29-acre lot at 264 Farmington Avenue in Hartford, Connecticut's desirable Asylum Hill neighborhood. The property boasts a stable income base generated by a ground-floor grocery store, complemented by eight residential units spanning the upper two floors. These residential units have recently undergone cosmetic upgrades, enhancing their appeal and rental potential. The building also includes office space currently utilized by the owner, offering flexibility for either continued owner-use as a base of operations or conversion into an additional rental unit, further increasing the property's income generation capabilities. The owner covers the cost of heat and hot water for the building. This turnkey investment presents a compelling opportunity for an investor seeking a well-maintained, income-producing property with significant upside potential based on projected rental income. The property's prime location on Farmington Avenue ensures high visibility and accessibility, contributing to its overall attractiveness. Financial projections are available upon request. This is a rare chance to acquire a substantial mixed-use asset in a thriving Hartford neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $2,052,405

  6.5%

  $1,894,528

  7%

  $1,759,204

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,622,013

  Geo Method

  $1,622,013

• Alternative Use

  Use

  Valuation

  Residential

  $2,349,214

  Hospitality

  $2,151,868

  Educational

  $1,790,329

  Medical

  $1,851,901

  Retail

  $2,784,956

Location Insight

City

Hartford

County

Hartford

State

Connecticut

Latitude

41.7681

Longitude

-72.6975

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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