$ 525,000
425 Franklin Avenue Hartford, CT 06114
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$ 525,000
Est. payment | /mo
45,544 SqFt
$ 525,000
Est. payment | /mo
45,544 SqFt
Key Details
Property Type Commercial
Listing Status Under Contract
Purchase Type For Sale
Square Footage 45,544 sqft
Price per Sqft $11
MLS Listing ID 24026941
Year Built 1920
Annual Tax Amount $60,655
Lot Size 1.420 Acres
Property Description
Auction Sale | price listed is starting bid. 417-429 Franklin Avenue is a 45,554-square-foot multi-tenant medical/professional office/multifamily conversion property in Hartford, CT. The vacant property was most recently occupied by several medical offices (Hartford Physical Medicine, Hartford Eye Wellness, Hartford Orthopedic Surgeons and a school, CREC) with a previous NOI in excess of $400K. The property is divided into three sections; the original section is a three-story brick building with direct frontage along Franklin Avenue, built in 1910. The additional two sections are single-story multi-tenant buildings with separate entrances. The building boasts desirable features such as ADA-accessible doors, bathrooms, a hydraulic elevator, ramps, and storage space. Known as The Greca Plaza, it has an impressive facade, with a modern main entrance featuring solid commercial doors and an upgraded security system with key fob access. The front of the property has an attractive wrought iron gate and ample off-street parking for 87 cars. 417-429 Franklin Avenue includes a naturally brightened mezzanine, a large conference room, wide and well-lit hallways, and a grand auditorium with a 25-foot ceiling. The property has received regular renovations in the last decade, the last being in 2018. Greca Plaza is currently vacant and offers investors and users an enticing opportunity to add value through a strategic lease-up plan or owner/user use.
Location
State CT
County Hartford
Zoning MS-2
Interior
Heating Hot Air
Cooling Central Air
Exterior
Garage Paved, Off Street Parking
Utilities Available Electric, Gas, Telephone, Cable
Roof Type Flat,Membrane
Building
Lot Description Level Lot
Sewer Public Sewer Connected
Water Public Water Connected
Listed by Michael Guidicelli • Regions Real Estate Advisors
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Osi Rosenberg
Broker | REB.0791464