Single-Story Commercial
For Sale
Contact for pricing
860 -62 Silas Deane Hwy, Wethersfield, CT 06109
Single-story, fully renovated building with 112' frontage, on-building signage, and on-site parking, positioned along Route 99.
Property Size7,000 SF
Price / SF$135.71
Days on Market186
Property Features for 860 -62 Silas Deane Hwy
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Office, Retail
Zoning
RC
Building Details
Year Built
1968
Year Renovated
2015
Buildings
1
Stories
1
Listing Agency:
O, R&L Commercial
Listed By:
Jay Morris · License #CT REB.0755257
(860) 721-0033
Source:
Crexi
Added: Mar 3
Changed: Aug 31
Last Checked: Aug 31 at 10:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of O, R&L Commercial
Investment Insights
Based on property information with market context.
A highly visible single-story commercial building with 7,000± SF and the ability to subdivide to 3,500± SF. Built in 1968 and fully renovated in 2015, the property features updated roof, windows, HVAC, and paving, along with central air conditioning. It offers rooftop gas units with forced hot air, 9.5’ clear height to the suspended ceiling (10.5’ to bar joist), and one loading dock. Constructed of concrete masonry with a membrane roof (2015), the building includes 25 on-site parking spaces plus 19 additional rear spaces leased from CL&P.
The property is located along Silas Deane Highway (Route 99) and provides 112’ of frontage with on-building signage. Public remarks note approximately 16,700± vehicles per day and convenient access about 1.3 miles from I-91 (Exits 24 & 25). The property is zoned RC (Regional Commercial).
Currently, the entire building is leased to a math school through 6/30/26, with the tenant relocating thereafter, creating a future owner-user or lease-up opportunity.
The property is located along Silas Deane Highway (Route 99) and provides 112’ of frontage with on-building signage. Public remarks note approximately 16,700± vehicles per day and convenient access about 1.3 miles from I-91 (Exits 24 & 25). The property is zoned RC (Regional Commercial).
Currently, the entire building is leased to a math school through 6/30/26, with the tenant relocating thereafter, creating a future owner-user or lease-up opportunity.
Key Highlights
- 7,000± SF single‑story commercial building on 0.53± acres along Silas Deane Highway (Route 99), with 112' frontage and on‑building signage
- Highly accessible location: 1.3 miles to I‑91 (Exits 24 & 25) and reported 16,700± vehicles per day
- Fully renovated in 2015 with updated roof, windows, HVAC, and paving; constructed of concrete masonry with membrane roof (2015)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$79,115
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,582,300
$1.6M
Cap Rate 7%
$1,130,214
$1.1M
Cap Rate 9%
$879,056
$879.1K
Market Conditions
NOI Build-Up for 7,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$126.0K $18.00/SF
− Vacancy
−$13.0K −$1.85/SF
EGI
$113.0K $16.15/SF
− OpEx
−$33.9K −$4.84/SF
NOI
$79.1K $11.30/SF
Area
Hartford, CT
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,582,300
Cap Rate 7%
$1,130,214
Cap Rate 9%
$879,056
Alternative Uses
Best Use
Healthcare Medical
$1.62M
$1.42M – $1.89M
NOI $113,400 @ 7.0% cap · market cap 11.94%
Second Best
Office B
$1.55M
$1.36M – $1.81M
NOI $108,580 @ 7.0% cap · market cap 11.43%
Theoretical Best
Office A
$2.09M
$1.83M – $2.43M
NOI $146,055 @ 7.0% cap · market cap 15.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
623
Businesses Nearby
Explore this area
Business Placement
Demographics for 06109, CT
27,298
Population
11,833
Households
2.3
Avg Household Size
44
Median Age
54%
College-Educated
95%
High-School Grad
12.3 sq mi
ZIP Area
2,219
Density / Sq Mi
$118,523
Median Household Income
$70,225
Median Earnings
$1,303
Median Rent
$300,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Single-story, fully renovated building with 112' frontage, on-building signage, and on-site parking, positioned along Route 99.
Where is this office units located?
The property is located at 860 -62 Silas Deane Hwy Wethersfield, CT.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 7,000± SF single‑story commercial building on 0.53± acres along Silas Deane Highway (Route 99), with 112' frontage and on‑building signage; Highly accessible location: 1.3 miles to I‑91 (Exits 24 & 25) and reported 16,700± vehicles per day; Fully renovated in 2015 with updated roof, windows, HVAC, and paving; constructed of concrete masonry with membrane roof (2015)
