241 Main Street
Office to Multifamily Conversion Opportunity | Downtown Hartford | $2,250,000
Marketing description
241 Main Street presents a compelling adaptive reuse opportunity in downtown Hartford, where demand for traditional Class B office space has weakened and ownership groups are actively repositioning assets toward residential use. The property is approximately 50% leased, providing in place income to offset carrying costs, while allowing for a phased redevelopment strategy. The asset is uniquely positioned for conversion due to its DT3 zoning designation and onsite parking, a rare combination in downtown Hartford.
Investment highlights
MULTIFAMILY CONVERSION OPPORTUNITY
• ±6,800 SF floor plates ideal for residential layouts
• Suitable for studio / 1BR / workforce housing mix
DT-3 ZONING (DOWNTOWN DISTRICT)
• Permits multifamily, mixed-use, and commercial uses
• Supports adaptive reuse and urban density
• Eliminates need for rezoning
ON-SITE PARKING (RARE DOWNTOWN FEATURE)
• 70 spaces located directly behind the building
• Significant competitive advantage for residential use
IN-PLACE INCOME
• 50% leased
• Ability to phase redevelopment
• Reduces near-term carry costs
ATTRACTIVE BASIS
• $66/SF acquisition
• Well below replacement cost
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
