Investment Overview

Marcus & Millichap is excited to present 240-248 Farmington Ave, a prime mixed-use property located in Hartford, Connecticut. Built in 1937, this well-maintained brick building features four commercial units and eight office spaces. With a proven track record of long-term tenant retention, including Rent-A-Center, which has occupied the property for nearly 40 years, this asset offers stable income potential. The property boasts exceptional visibility with excellent frontage along Farmington Avenue, a major commercial corridor bustling with a mix of apartments, offices, and retail businesses. Situated in Hartford’s highly sought-after West End, it’s just one block from prominent employers such as Aetna and The Hartford Financial Services Group. The University of Connecticut School of Law (UConn), Saint Francis Hospital, and Hartford’s central business district are also nearby. The property is conveniently located less than a mile from Union Station, offering easy access to public transit, and is positioned near I-84 and I-91 for optimal connectivity. The building features a private parking lot both in the front and rear, ensuring convenient parking for both customers and employees. With high pedestrian traffic drawn to the tenant businesses - restaurant, laundromat, and photo-hut - the location is ideal for retail and office tenants. Rent-A-Center, having earned the "Million Dollar Club" awards for 2020 and 2021, is a testament to the property’s strong performance with over $1M in revenue for the respective years. This property represents an excellent investment opportunity with immediate steady cash flow, offering a new owner the potential to further increase value by leasing out the available office spaces. With its strong tenant history, desirable location, and significant upside potential, 240-248 Farmington Ave is a hidden gem ready for the next investor.