450-460 Franklin Ave - Storefront Retail/Residential FOR SALE


Hartford, CT 06114- South End
$2,800,000 USD
475-250-2753
450-460 Franklin Ave, Hartford, CT for Sale
$2,800,000 USD
Storefront Retail/Residential - FOR SALE
1/18
null | 6.5% Cap Rate

450-460 Franklin Ave
Hartford, CT 06114
South End


HIGHLIGHTS

  • Don’t miss this prime investment consisting of 12 fully leased apartments plus five thriving commercial units.
  • Offering a top-notch location just south of Downtown Hartford with lofty traffic counts of 8,579 vehicles per day.
  • Just a quick drive to several demand drivers, including Hartford-Brainard Airport, Hartford Hospital, and Trinity College.
  • Featuring an on-site synergistic commercial tenant mix, buyers can reap the benefits of the in-place long-term tenancy.
  • Area demographics bode well for buyers with mostly renter-occupied households in a 2-mile radius and area spending exceeding $585 million.

OVERVIEW

Lincoln Plaza stands as a meticulously maintained, mixed-use property nestled in one of Hartford's most desirable locations. The property offers 12 one-bedroom apartments paired with five bustling commercial units. Each unit is individually metered, and the building enjoys full occupancy mainly from long-standing residents who value stability. Significant renovations completed in the late 1990s brought modernized sheetrock, doors, windows, and updated electric and gas meters. Residents benefit from 12 designated parking spots, additional side-lot options, and convenient street parking. The surrounding neighborhood is alive with steady foot traffic, fueling the in-place commercial tenant mix with businesses such as a Chinese restaurant, grocery store, laundromat, check-cashing service, and nail salon. The seller commits to fresh pavement along the front entry as well as repairs to the rear parking lot, ensuring lasting curb appeal. For investors seeking supplemental revenue, the laundromat business may be acquired separately. The South End neighborhood of Hartford presents a prime opportunity for investment. The area benefits from excellent connectivity via Interstate 91, which is conveniently located near the property and provides easy access to regional destinations. Maple Avenue links the South End directly to Downtown Hartford, with a travel distance of less than 3 miles. Public transportation is readily available, with numerous CT Transit bus stops along the main thoroughfares. The neighborhood offers a variety of dining options that cater to the local community, including Franklin Giant Grinder Shop, Just a Twist, and Modern Pastry Shop. Nearby notable places of interest include Hartford Hospital, Hartford-Brainard Airport, and Trinity College.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$174 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lincoln Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1915

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,504 SF

ZONING

B4

APN/PARCEL ID

HTFD-000253-000802-000267

ASK ABOUT THIS PROPERTY

Lani Liu-HelischSovereign PropertiesMore Info
475-250-2753

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Lani Liu-HelischSovereign PropertiesMore Info
475-250-2753

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.