High Traffic | Value-Add Retail
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High Traffic | Value-Add Retail
2 Shops & Retail Properties Online Auction Sale Hartford, CT
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Investment Highlights
- Two-building retail offering known for being the home of Ducks on the Ave bowling, Mo‘s Midtown, and Deka Henry‘s Hartford Postcards mural.
- With a traffic count of 11,900 vehicles per day, this asset is in an ideal position for retailers on Farmington Avenue.
- Neighborhood offers multiple dental practices, eye doctors, physical therapists, engineering and law firms, with residential spaces and retailers.
- Ideal for a retailer or user to occupy the main building‘s first floor, taking advantage of existing infrastructure and exterior branding.
- Immediate neighbors include Bank of America, Wing Stop, Dental Smiles, Tangier‘s Market, FedEx, Burger King, KFC, Walgreens and local restaurants.
Executive Summary
As exclusive listing agent, CBRE is pleased to offer for sale 560 Farmington Avenue, an established two-building retail property located in Hartford, Connecticut. The offering includes approximately 17,700 square feet of above-ground commercial space, plus one residential apartment, a finished/tenanted basement, and 41 surface parking spaces. The 1.04-acre site sits prominently at the corner of Farmington Avenue and Whitney Street, with 140 feet and 330 feet of frontage, respectively. Originally constructed in 1939 and 1940, these buildings provide an ideal opportunity for a developer or retailer seeking a highly visible and walkable Hartford location.
Situated at a four-way traffic light on bustling Farmington Avenue in Hartford‘s west end, the main building offers 13,225 square feet of available first-floor commercial space with exceptional signage opportunities. The main building‘s basement is home to Ducks on the Ave, a duckpin bowling alley. The bowling alley was part of the original construction and has been in operation since 1939. The second building is home to three tenants: Mo‘s Midtown Restaurant, V.L. Nails, and Fashion Flair, as well as a vacant residential apartment.
560 Farmington Avenue is located in Hartford, Connecticut. Situated along the picturesque banks of the Connecticut River, Hartford is the state‘s capital city and is accessible from anywhere in the Northeast, with an excellent transportation network and easy access to major highways including Interstates 84 and 91, as well as US Highways 5 and 44 and CT Routes 2, 6 and 15. Hartford has long been known as a center for business and financial services with prominent corporate neighbors, including The Hartford Insurance Co., Travelers, Nassau Re, and Lincoln Financial Group all calling the city home. Hartford also has become a hub for healthcare and technology, with companies such as Hartford Healthcare and Stanley Black & Decker recently investing a large amount of capital into new offices downtown. Hartford is also an evolving 18-hour urban environment that has seen a marked increase in the development of multifamily and entertainment offerings over the past 10 years.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Situated at a four-way traffic light on bustling Farmington Avenue in Hartford‘s west end, the main building offers 13,225 square feet of available first-floor commercial space with exceptional signage opportunities. The main building‘s basement is home to Ducks on the Ave, a duckpin bowling alley. The bowling alley was part of the original construction and has been in operation since 1939. The second building is home to three tenants: Mo‘s Midtown Restaurant, V.L. Nails, and Fashion Flair, as well as a vacant residential apartment.
560 Farmington Avenue is located in Hartford, Connecticut. Situated along the picturesque banks of the Connecticut River, Hartford is the state‘s capital city and is accessible from anywhere in the Northeast, with an excellent transportation network and easy access to major highways including Interstates 84 and 91, as well as US Highways 5 and 44 and CT Routes 2, 6 and 15. Hartford has long been known as a center for business and financial services with prominent corporate neighbors, including The Hartford Insurance Co., Travelers, Nassau Re, and Lincoln Financial Group all calling the city home. Hartford also has become a hub for healthcare and technology, with companies such as Hartford Healthcare and Stanley Black & Decker recently investing a large amount of capital into new offices downtown. Hartford is also an evolving 18-hour urban environment that has seen a marked increase in the development of multifamily and entertainment offerings over the past 10 years.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
- Miscellaneous
Market Analytics Click Here to Access
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Market Sale Price per SF
Hartford - CT USA
Market Cap Rate
Hartford - CT USA
Market Sale Price per SF by Star Rating
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Market Cap Rate by Star Rating
1 - 2 Star
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Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
| Sale Conditions | Auction Sale | Number of Properties | 2 |
| Sale Type | Investment | Total Building Size | 17,797 SF |
| Status | Active | Total Land Area | 1.04 AC |
| Sale Conditions | Auction Sale |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Total Building Size | 17,797 SF |
| Total Land Area | 1.04 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built |
|---|---|---|---|
| 560 Farmington Ave, Hartford, CT 06105 | Retail | 11,637 SF | 1940 |
| 560 Farmington Ave, Hartford, CT 06105 | Retail | 6,160 SF | 1940 |
Sale Advisors
Sale Advisors
John McCormick, Executive Vice President
(860) 525-9171
Contact
John McCormick joined CBRE/New England in 1989 and was instrumental in developing a five-person client service team. During his 28-year commercial real estate career, John focused on agency leasing, tenant representation and investment sales. John was elected to the firm’s partnership in 1996 and has served as an elected member to the Partners Advisory Committee. In 2015, John was added to the firm’s Senior Partner Advisory Committee. For multiple years, he has been the Hartford office “Top Producer” and has qualified for the CBRE Recognition Conference among CBRE professionals nationally.
Anna Kocsondy, Vice President
(860) 987-4749
Contact
Anna joined CBRE/New England in 2003, where she is successful in negotiating on behalf of both national clients, as well as local business owners. She has over 10 years of experience in commercial real estate and offers her clients a structured and effective approach when addressing their real estate needs. Anna is a LEED® Accredited Professional, specializing in commercial interiors, with a focus in assisting clients with creating “green” tenant spaces. During the past five years, Anna participated in team-sales transactions valued at over $467 million.
About Hartford
Equidistant to Boston and New York City, Hartford is the seat of Connecticut’s state government, the epicenter of the nation’s insurance industry, and home to 18 institutions of higher learning, including Trinity College, the University of Connecticut, and Wesleyan. In addition to Springfield, Massachusetts and New Haven, Hartford is a node in the economic development region known as the New England Knowledge Corridor.
Downtown’s Hartford’s connectivity includes access to the Hartford-Brainard Airport, a Connecticut Rail Station, and Interstate-84 and Interstate-91, connecting Hartford to Upstate New York, Massachusetts, Vermont, New Hampshire, and Canada.
While downtown tenants include prominent multinational firms such as Aetna, Travelers, and United Technologies, other area tenants include retailers like CVS and New England City Sports and restaurants such as Hibachi Grill and J’s Crab Shack.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial property. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Emily Walper
Contact
Auctioneer License:
Ten-X, Inc. Samantha Corbat RE Brkr REB.0790949
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Power Broker John McCormick -
Anna Kocsondy -
CBRE
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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