146 GROVE ST, NEW BRITAIN, CT 06053

ACCESS & CONNECTIVITY

The Property is served by CTfastrak and CTtransit bus service, giving riders direct bus connections across New Britain and into Hartford, with CTfastrak operating as the region’s bus rapid transit system and linking New Britain to Hartford, Newington, West Hartford, and other Central Connecticut destinations.

For rail access, the property is not served by a dedicated passenger rail station in New Britain, but regional rail service is available nearby at Berlin station and Hartford’s Union Station, both reachable through the broader transit network.

By car, the location benefits from excellent highway connectivity to Route 9 and Route 72, providing efficient access to I-84 and the broader Central Connecticut corridor.

AREA AMENITIES & DEMAND DRIVERS

The Property is situated near several of the city’s largest employers, including Central Connecticut State University (CCSU), The Hospital of Central Connecticut, Stanley Black & Decker’s corporate operations, and numerous healthcare, education, and manufacturing employers throughout New Britain and neighboring towns.

Residents also benefit from direct access to the Interstate 84 and Route 9 corridors, providing a convenient commute to Downtown Hartford, one of New England’s largest employment centers. Hartford is home to major corporate headquarters and employers including Travelers, The Hartford, Aetna/CVS Health, Eversource Energy, Hartford HealthCare, Trinity Health of New England, and numerous state government offices.

Downtown New Britain has experienced continued investment and revitalization, featuring a growing collection of restaurants, retail establishments, entertainment venues, and cultural institutions.

VALUE-ADD POTENTIAL

In-place rents are significantly below the current market rates; the opportunity exists to continue to upgrade unit interiors and common areas to drive rental rates in an urban-infill, high demand/supply constrained residential market.

SEPARATELY METERED UTILITIES

Tenants are responsible for gas-powered heat & hot water, as well as separately metered electricity, which they pay directly. The Landlord is responsible for providing city water & sewer, which they pay directly.

OFF-STREET PARKING & DURABLE CONSTRUCTION

The Property features four (4) off-street parking spaces, with over three (3+) surface spaces in the rear and one (1) garage space.

The Property features durable brick construction, a highly desirable attribute for multifamily housing that provides long-term structural integrity, fire resistance, and reduced maintenance requirements. Brick construction also delivers superior sound attenuation and thermal efficiency, contributing to lower utility costs and enhanced resident comfort while preserving long-term aesthetic appeal. STRONG RENTAL DEMOGRAPHICS & DEMAND

More than 25,400 people live within 1 mile of the Property with an average household income of $63,200. Over 92,800 people reside within 3 miles of the Property with an average household income of $90,408.

QUALITY OF LIFE AMENITIES

The surrounding area offers a diverse mix of dining options, including national chains and quick-service restaurants such as Texas Roadhouse, Olive Garden, Buffalo Wild Wings, Chick-fil-A, McDonald’s, Dunkin’, Starbucks, and Panera Bread, all located along New Britain’s primary commercial corridors.

The area is also home to several local favorites, including East Side Restaurant, Riley’s Hot Dog & Burger Gourmet, GoldBurgers, and Great Taste Chinese Restaurant, providing residents with a variety of established dining destinations.

Retail conveniences are abundant throughout the immediate trade area, with residents benefiting from proximity to national retailers including Walmart Supercenter, Target, The Home Depot, Lowe’s, Walgreens, CVS Pharmacy, and numerous banking and service providers.

Residents have convenient access to Walnut Hill Park, a historic Frederick Law Olmsted-designed park featuring walking paths, athletic fields, playgrounds, and seasonal community events.