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    19 Halls Rd Old Lyme, CT 06371

    Sponsored
    For Sale
    $5,100,000

    Prime CT Retail Center, High Occupancy

    Property size:
    50,223 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    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 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

    HighLights

    • 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.
    • Stable tenancy with long‑term, essential businesses, many with 10+ year history.
    • Strong demographics: $144,269 median household income within a 10‑minute radius of 23,215 residents.
    • 7.02% Year 1 Cap Rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Law Office of Khorey ... Real Estate Attorney Sablone Francis Attorney Amy B Weldon Nurse Practitioner Rubino Law LLC Law Firm Hair Trendz Hair ... Hair Salon

    Suggested Use

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

    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

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    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.
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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
    19 Halls Rd Old Lyme, CT 06371
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