Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    120 Hale Rd Manchester, CT 06042

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available near I-84 in Manchester, CT.

    We can help!

    Listing Contact
    Ben Starr
    Source: Atlanticretail

    Listing Agent: Ben Starr

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space Near I-84

    This listing is located in Manchester, CT. There is 10,000 square feet of available retail space. The property is highly visible from I-84 with direct access via Exit 63. Nearby retailers include Walmart, Best Buy, Total Wine, Hobby Lobby, and P.C Richard & Son. Pylon signage is available on Hale Road at a signalized entrance.
    Location Intelligence

    Current Use by Public Records

    The Dog House (Bike/Boat/Book/etc) Store Hale Road Plaza Shopping Center & Mall Guitar Center (Bike/Boat/Book/etc) Store SAVE ALL DOGS ... Pet Adoption Service Morning Star Bookstores 📚 (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Hale Road Plaza, Coinstar, Sunglass Hut at Macy's, The Manchester Collection

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.5302636
    Latitude
    41.8097691

    Nearby Similar for Lease

    • $10 SF/Yr
      6,400 SF

      Manchester Commercial Space For Lease

      Retail or office space available in a desirable location.
      319 Broad St, Manchester, CT 06040
      View Details
    • $1,200 /Mo

      Bolton, CT Commercial Lease Opportunity

      Commercial lease in Bolton, CT with open layout.
      10 Quarry Rd, Bolton, CT 06043
      View Details
    • $2,500 /Mo

      Turnkey Office Space Available

      Turnkey office space with private rooms, kitchen, and reception.
      391 Center St, Manchester, CT 06040
      View Details
    • $920 /Mo

      Sun-Filled Studio at Hilliard Mills

      450 sq. ft. studio space with central air.
      642 Hilliard St, Manchester, CT 06042
      View Details
    • $850 /Mo
      1,600 SF

      Remodeled Office Suites For Rent

      Newly remodeled office suites for rent in convenient location.
      21 Middle Tpke East, Manchester, CT 06040
      View Details
    • $700 /Mo
      1,600 SF

      Remodeled Office Suites For Rent

      Newly remodeled office suites for rent in convenient location.
      21 Middle Tpke East, Manchester, CT 06040
      View Details
    • $1,200 /Mo

      Bolton, CT Commercial Lease

      Commercial lease in the heart of Bolton, CT.
      10 Quarry Rd, Bolton, CT 06043
      View Details
    • $550 /Mo
      1,600 SF

      Remodeled Office Suites For Rent

      Newly remodeled office suites for rent in convenient location.
      21 Middle Tpke East, Manchester, CT 06040
      View Details
    • Contact for pricing
      8,195 SF

      Premier Retail Destination in Manchester

      Regional shopping center with national retailers and dining options.
      194 Buckland Hills Dr, Manchester, CT 06042
      View Details
    • $950 /Mo
      900 SF

      Commercial Space for Rent

      Commercial space available for rent, suitable for various businesses.
      521 Middle Tpke East, Manchester, CT 06040
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available near I-84 in Manchester, CT.
    Where is this shopping center located?
    The property is located at 120 Hale Rd Manchester, CT.
    What are key features of this property?
    This property features: - Highly visible from I-84 with direct access via Exit 63; - Join New Hobby Lobby; - 10,000 SF Available
    (617) 239-3643
    Request Owner's contact information
    120 Hale Rd Manchester, CT 06042
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    120 Hale Rd
    Manchester, CT 06042
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    120 Hale Rd Manchester, CT 06042
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Ben Starr
    (617) 239-3643
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!