383 Wethersfield AveHartford, CT 06114

Property Details for 383 Wethersfield Ave

Year built

1950

Construction

FRAME

Lot size

0.33 AC

Property size (Sq ft)

3,200 SF

Zone code

N2-2

Property type

Retail properties

Property subtype

Auto shops

APN

HTFD M:251 B:678 L:220

APU

HTFDM251B678L220

Description

This exceptional 15,206 square foot commercial property, situated on a 1.32-acre lot in Hartford, Connecticut, presents a remarkable investment opportunity. The property boasts a highly desirable location with frontage on three major streets: Mannz Street, Bond Street, and Wethersfield Avenue, ensuring exceptional visibility and accessibility for any business. Currently configured as a mixed-use space, including a restaurant, apartments, and garages, the property generates immediate rental income. This versatile layout, spread across five separate parcels, offers significant potential for redevelopment and expansion. The property's size and location make it ideal for a variety of projects, including the creation of new apartment complexes, retail spaces, or other commercial ventures. The existing structures provide a solid foundation for immediate returns while allowing for future development to maximize the property's full potential. The property is priced at $2,500,000, and owner financing may be available for qualified buyers, making this an attractive opportunity to acquire a significant asset in a thriving Hartford location. This is a rare chance to acquire a substantial property with immediate income and significant long-term growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $777,712

  6.5%

  $717,888

  7%

  $666,610

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,053,642

  Geo Method

  $1,053,642

• Alternative Use

  Use

  Valuation

  Residential

  $605,565

  Hospitality

  $554,694

  Educational

  $461,499

  Medical

  $477,371

  Retail

  $717,888

Location Insight

City

Hartford

County

Hartford

State

Connecticut

Latitude

41.7452

Longitude

-72.6743

CBSA code

25540

CBSA name

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

Property Tax & Assessments

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