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    62 Hyde Ave, Unit 62 Vernon, CT 06066

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    For Sale
    $389,900

    1,917 SF office/retail space with highway access and parking.

    Property size:
    2,472 SF
    Lot size:
    0.90 Acres

    Property Features for 62 Hyde Ave

    General Information

    Standard status
    Active
    Size
    2,472 SF
    Lot size
    0.90 Acres

    Building Details

    Year built
    1959

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    Listing Contact
    Mark Riesbeck
    Mark Riesbeck
    Source: Corcoran

    Listing Agency: Berkshire Hathaway NE Prop. Listing Agent: Mark Riesbeck

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

    Learn more

    Overview

    Vernon Office/Retail Space For Sale

    Located on a high-visibility corridor, the property at 62 Hyde Ave in Vernon offers a 1,917 sq ft office/retail space. It provides direct access to CT Route 30 and is one minute from I-84. The interior features eight private offices, a dedicated kitchen/break area, and two half baths. The property is set on approximately 0.89 acres and includes 14 on-site parking spaces. Signage opportunities are available. This configuration is suited for professional services, retail, or service-based users seeking convenient highway access and strong daily traffic flow. It is a practical option for owner-users or tenants looking to establish or expand in Vernon.
    Location Intelligence

    Current Use by Public Records

    Timothy J Johnston ... Law Firm Balskus & Johnston Attorneys ... Law Firm Finex Credit Union Credit Union Mortgage Markets CUSO, ... Loan Service Caron & Parris LLC Law Firm

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Vernon
    County
    Tolland
    State
    Connecticut
    Longitude
    -72.4273255
    Latitude
    41.8613465

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    FAQs

    What type of property is this?
    Office units - 1,917 SF office/retail space with highway access and parking.
    Where is this office units located?
    The property is located at 62 Hyde Ave, Unit 62 Vernon, CT.
    What is the asking price?
    The asking price for this property is $389,900.
    What are key features of this property?
    This property features: - High-visibility location on Hyde Ave with strong daily traffic flow.; - Direct access to CT Route 30 and immediate proximity to I-84.; - Flexible 1,917 sq ft office/retail space suitable for various business types.
    (860) 874-6629
    Request Owner's contact information
    62 Hyde Ave, Unit 62 Vernon, CT 06066
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    Vernon, CT 06066
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    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
    62 Hyde Ave, Unit 62 Vernon, CT 06066
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    We can help!
    Listing Contact
    Mark Riesbeck
    Mark Riesbeck
    Real Estate License ID: RES.0798345
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