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Lincoln Plaza 450-460 Franklin Ave 16,083 SF 100% Leased Retail Building Hartford, CT 06114 $3,857,840 CAD ($239.87 CAD/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Heavy traffic
- Fully occupied, long term tenants
- Fire alarm system
EXECUTIVE SUMMARY
Solid mixed use property. 12 good sized one bedroom apartments and 5 commercial units. All separated utilities. Fully occupied. Most of them are long term tenants. This building was completely renovated in the late 90s. New sheetrock has been installed on all walls in all apartments and hallways. All doors, door frames, windows and window frames have been replaced, so you have peace of mind with the lead paint issue. All electric meters and gas meters have been replaced at some point. There are 12 parking spaces for the residential tenants. Parking at side of the building and on the street. Heavy foot traffic generates good business for the commercial tenants. Typical neighborhood business, Chinese Restaurant, Grocery store, Laundromat, Check and Cash and Nail Salon, as these business are all doing well.
Seller to pay for new pavement in front of the building, and to repair back parking lot with a new coasting.
Laundromat business can be sold together at buyer's option.
Seller to pay for new pavement in front of the building, and to repair back parking lot with a new coasting.
Laundromat business can be sold together at buyer's option.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
16,083 SF
Building Class
C
Year Built/Renovated
1915/1996
Price
$3,857,840 CAD
Price Per SF
$239.87 CAD
Cap Rate
6.50%
NOI
$250,760 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.19
Lot Size
0.31 AC
Zoning
B4 - Neighborhood Business
Frontage
Walk Score®
Very Walkable (85)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
25,494
133,844
272,440
472,920
2029 Population
25,006
133,290
270,899
481,065
2024-2029 Projected Population Growth
-1.9%
-0.4%
-0.6%
1.7%
Median Age
32.9
36.3
38.1
39.3
College Degree + Higher
11%
24%
32%
20%
Daytime Employees
8,127
152,712
238,874
346,632
Total Businesses
1,083
13,216
22,856
37,620
Average Household Income
$57,715
$70,184
$88,592
$105,612
Median Household Income
$43,502
$50,080
$63,088
$80,353
Total Consumer Spending
$194M
$1.3B
$3.1B
$5.7B
2024 Households
8,848
55,668
110,404
191,152
Average Home Value
$230,771
$233,989
$285,006
$346,542
$ values in USD
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | HTFD-000253-000802-000267 | Total Assessment | $599,584 CAD (2025) |
| Land Assessment | $74,815 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $524,769 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
HTFD-000253-000802-000267
Land Assessment
$74,815 CAD (2025)
Improvements Assessment
$524,769 CAD (2025)
Total Assessment
$599,584 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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Sovereign Properties
Lincoln Plaza | 450-460 Franklin Ave
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