Add Listing
    For Sale
    • 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

    19 Halls Rd Old Lyme, CT 06371

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

    Prime CT Retail Center, High Occupancy

    Property size:
    50,223 SF

    Property Features for 19 Halls Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    50,223 SF
    Class
    C
    Lot Size
    227,383 SF

    Building Details

    Year Built/Renovated
    1964/1991
    Buildings
    2
    Stories
    2
    Units
    35

    We can help!

    Listing Contact
    Bradley Balletto
    Bradley Balletto

    Listing Agency: NorthEast Private Client Group Shelton Listing Agent: Bradley Balletto

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

    Learn more

    Property Insight Report

    Overview

    This 50,223 sq ft shopping center in Old Lyme, CT, offers a compelling redevelopment opportunity. Boasting 100% occupancy, two buildings, and 154 parking spaces, this multi-tenant property features a diverse mix of established businesses, including medical offices and everyday-needs retailers. Located on US Route 1 with high daily traffic counts, it benefits from strong area demographics and a high barrier to entry market. The property includes 35 units across two stories, built in 1964 and renovated in 1991, situated on a 5.22-acre lot with C30-s zoning. The asking price is $5,100,000, representing a 7.02% cap rate with a pro-forma cap rate of 9.20%. The property offers significant upside potential and is ideally positioned within a thriving retail corridor. The center is directly across from a major retail center anchored by Big Y and Walgreens. The property has approximately 430 feet of frontage on Halls Road (US Route 1) with two means of entry and egress. There is potential for expansion by adding a retail pad on the Route 1 frontage. The property is conveniently located off Interstate 95, exit 70.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Law Office of Khorey ... Law Firm Sablone Francis Law Firm Amy B Weldon Physician Rubino Law LLC Law Firm Hair Trendz Hair ... Hair Salon

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Old Lyme
    County
    New London
    State
    Connecticut
    Longitude
    -72.3344628
    Latitude
    41.3250352

    Nearby Similar for Sale

    • New
      $550,000
      2,548 SF

      Old Lyme Mixed-Use Property

      Mixed-use property suitable for residence and business.
      34 Lyme St, Old Lyme, CT 06371
      View Details
    • $375,000

      Old Lyme Specialty Property

      Specialty property for sale in Old Lyme, Connecticut.
      10 Meadow Ln, Old Lyme, CT 06371
      View Details
    • $550,000
      2,548 SF

      Lyme Street Mixed-Use Opportunity

      Live and work in one phenomenal location on Lyme Street.
      34 Lyme St, Old Lyme, CT 06371
      View Details
    • $445,000

      Old Lyme Specialty Property

      Specialty property available for sale in Old Lyme, Connecticut.
      13 Old Post Rd, Old Lyme, CT 06371
      View Details
    • $630,000

      Specialty Property For Sale

      Specialty property available for purchase.
      312 Ferry Rd, Old Lyme, CT 06371
      View Details
    • $1,300,000

      Specialty Property for Sale

      Specialty property available for purchase.
      23 Lords Meadow Ln, Old Lyme, CT 06371
      View Details
    • $888,000

      Equestrian Property on Boston Post

      Equestrian property available for sale on Boston Post Road.
      120 Boston Post Rd, Old Lyme, CT 06371
      View Details
    • $619,000

      Antique Home on 26+ Acres

      Charming antique home with subdivision potential on a large site.
      95 Buttonball Rd, Old Lyme, CT 06371
      View Details
    • $759,500

      Specialty Property for Sale

      Specialty property available for purchase.
      2 Riverdale Lndg, Old Lyme, CT 06371
      View Details
    • $1,475,000

      Specialty Property For Sale

      Specialty property available for purchase.
      6 Tantummaheag Rd, Old Lyme, CT 06371
      View Details
    • $1,765,000

      Sill Ln Specialty Property

      Specialty property available for sale.
      70 Sill Ln, Old Lyme, CT 06371
      View Details
    • Contact for pricing
      50,223 SF

      Retail Hub with Upside Potential

      Ideally located retail hub with long-term tenancy and strong demographics.
      19 Halls Rd, Old Lyme, CT 06371
      View Details

    FAQs

    What type of property is this?
    Lifestyle center - Prime CT Retail Center, High Occupancy
    Where is this lifestyle center located?
    The property is located at 19 Halls Rd Old Lyme, CT.
    What is the asking price?
    The asking price for this property is $5,100,000.
    What are key features of this property?
    This property features: 50,223-square-foot mixed-use shopping center at 19 Halls Road (US Route 1), expansion potential.; Prime retail location at I-95 Exit 70 (59,000 ADT) and US Route 1 (11,000 cars/day), strong local and tourist traffic.; High barrier to entry due to limited development sites and restrictive zoning.
    (203) 307-1574 Call to check price and availability
    Request Owner's contact information
    19 Halls Rd Old Lyme, CT 06371
    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.
    19 Halls Rd
    Old Lyme, CT 06371
    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
    19 Halls Rd Old Lyme, CT 06371
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bradley Balletto
    Bradley Balletto
    Real Estate License ID: CT:0792835
    (203) 307-1574 (860) 420-9775
    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!