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    220 Hale Rd Manchester, CT 06042

    Sponsored
    For Sale
    $11,375,000

    High-yield NNN retail investment.

    Property size:
    93,251 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional 93,251 square foot shopping center, located at 220 & 200 Hale Rd, Manchester, CT 06042, presents a compelling investment opportunity. Boasting a strong 8.00% cap rate and a substantial net operating income (NOI) of $910,000, this property offers significant financial returns. The center is currently 100% occupied by a mix of tenants, including a well-established Ashley Furniture HomeStore franchisee with three Connecticut locations and Urban Air Adventure Park. The Ashley lease has recently been extended to a full 10-year term, demonstrating a strong commitment to the location. Urban Air's lease provides a corporate guarantee for the initial five years. Both leases are Net Lease (NNN) agreements, meaning tenants are responsible for all operating expenses, minimizing landlord responsibilities. Built in 1994 and renovated in 2021, the property sits on a 9.46-acre lot. The Ashley Furniture HomeStore franchisee is ranked in the 83rd percentile in Connecticut according to Placer.ai, indicating strong market performance. This investment offers long-term stability and significant upside potential, making it an ideal addition to any portfolio. The asking price is $11,375,000, translating to $121.98 per square foot.

    Property Features for 220 Hale Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    93,251 SF
    Lot Size
    412,078 SF

    Building Details

    Year Built/Renovated
    1994/2021

    HighLights

    • $11,375,000 asking price for this 93,251 square foot retail shopping center.
    • 8.00% cap rate with a $910,000 NOI.
    • 100% occupancy with a multi‑tenant NNN lease structure.
    • Tenants include Ashley Furniture (with a 10‑year lease) and Urban Air (with a corporate guarantee for the first 5 years of their lease).
    • Located on 9.46 acres in Manchester, Connecticut, at 200 and 220 Hale Rd, 06042.
    • Built in 1994 and renovated in 2021.
    Property Profile Location Intelligence

    Current Use by Public Records

    Urban Air Trampoline ... Amusement Center Kid Friendly Family ... Children'S Amusement Center

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.5325858
    Latitude
    41.8083945

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    FAQs

    What type of property is this?
    Lifestyle center - High-yield NNN retail investment.
    Where is this lifestyle center located?
    The property is located at 220 Hale Rd Manchester, CT.
    What is the asking price?
    The asking price for this property is $11,375,000.
    What are key features of this property?
    This property features: $11,375,000 asking price for this 93,251 square foot retail shopping center.; 8.00% cap rate with a $910,000 NOI.; 100% occupancy with a multi-tenant NNN lease structure.
    Request Owner's contact information
    220 Hale Rd Manchester, CT 06042
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    Manchester, CT 06042
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    Realmo Value Estimation

    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.

    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.

    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
    220 Hale Rd Manchester, CT 06042
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