Hartford, CT 06114,425 Franklin Avenue

$750,750

$525,000

43.0%
Est.Price: ?

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Est. payment /mo

45,544 SqFt


SOLD DATE : 11/13/2024

Key Details

Sold Price $750,750

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

Square Footage 45,544 sqft

Price per Sqft $16

MLS Listing ID 24026941

Sold Date 11/13/24

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

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Listed by Michael Guidicelli • Regions Real Estate Advisors
Bought with Michael Guidicelli • Regions Real Estate Advisors
agent-avatar

+1(203) 856-9968

ryan.loechner@exprealty.com

1266 E Main St, Stamford, CT, 06902

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