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Mixed-Use

264 Farmington Ave

264 Farmington Ave, Hartford, CT 06105

Listing Price: $1,100,000

Cap Rate
7.32%
Number of Units
9
Occupancy
96.4%
Price/Unit
$122,222

Investment Overview

Marcus & Millichap is pleased to present 264 Farmington Ave, Hartford, Connecticut. The mixed-use brick building was constructed in 1928. It has Nine residential apartments, consisting of a unit mix of Seven 1-bedroom 1 bath and two 2-bedroom 1 bath, and one retail unit. It has historically enjoyed long-term tenant retention. This highly visible site has excellent frontage along Farmington Avenue, a major commercial thoroughfare with a density of apartments, offices, and commercial properties. Located in Hartford's West End only one block from Aetna and The Hartford Financial Services Group, and near the University of Connecticut School of Law (UCONN) campus, and Hartford Seminary. It is less than a mile from Hartford’s Union Station train terminal, the Capital and Hartford’s central business district, and near I-84 & I-91. With the surrounding office buildings, services, retail, and transportation, the property provides an excellent location for residents. There is a private parking lot for the grocery store customers and another private lot in the rear of the building offering easy and convenient parking. There is an abundance of pedestrian traffic patronizing the grocery store. This hidden gem provides a new owner with immediate steady cash flow with the upside of leasing out the only remaining apartment currently used as an owner's private office. This unit has a separate private street-level entrance and is in demand. A new investor will benefit from a property that has experienced long-term tenants and the opportunity to add value in a strong location.

Investment Highlights

  • Grocery Essential Business, New Lease Signed
  • Long Term Residential Tenants
  • Strong Location Near Downtown Hartford, Transportation, Shops, and Restaurants

Exclusively Listed By

Financing By

Listing Price: $1,100,000

Cap Rate
7.32%
Number of Units
9
Occupancy
96.4%
Price/Unit
$122,222

Investment Highlights

  • Grocery Essential Business, New Lease Signed
  • Long Term Residential Tenants
  • Strong Location Near Downtown Hartford, Transportation, Shops, and Restaurants

Investment Overview

Marcus & Millichap is pleased to present 264 Farmington Ave, Hartford, Connecticut. The mixed-use brick building was constructed in 1928. It has Nine residential apartments, consisting of a unit mix of Seven 1-bedroom 1 bath and two 2-bedroom 1 bath, and one retail unit. It has historically enjoyed long-term tenant retention. This highly visible site has excellent frontage along Farmington Avenue, a major commercial thoroughfare with a density of apartments, offices, and commercial properties. Located in Hartford's West End only one block from Aetna and The Hartford Financial Services Group, and near the University of Connecticut School of Law (UCONN) campus, and Hartford Seminary. It is less than a mile from Hartford’s Union Station train terminal, the Capital and Hartford’s central business district, and near I-84 & I-91. With the surrounding office buildings, services, retail, and transportation, the property provides an excellent location for residents. There is a private parking lot for the grocery store customers and another private lot in the rear of the building offering easy and convenient parking. There is an abundance of pedestrian traffic patronizing the grocery store. This hidden gem provides a new owner with immediate steady cash flow with the upside of leasing out the only remaining apartment currently used as an owner's private office. This unit has a separate private street-level entrance and is in demand. A new investor will benefit from a property that has experienced long-term tenants and the opportunity to add value in a strong location.

Exclusively Listed By

Financing By

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