For Sale
$11,375,000

220 Hale Rd Manchester, CT 06042

High-yield NNN retail investment.

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
136
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.

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 Details for 220 Hale Rd

Property type
Lifestyle centers, Power centers
Square Feet
93,251 SF
Year Built/Renovated
1994/2021
Lot Size (sq. ft)
412,078 SF

Location Insight

City
Manchester
County
Hartford
State
Connecticut
Latitude
41.8083945
Longitude
-72.5325858

Nearby Similar for Sale

  • For Sale Call for price

    139K SF Retail Redevelopment Opportunity

    Prime Manchester, CT retail redevelopment. 10 acres, I-84 visibility.

    190 Buckland Hills Dr
    Manchester, CT
    View Details
  • For Sale Call for price

    Manchester Retail Center Investment

    71,612 SF Shopping Center, High Visibility

    205 Spencer St
    Manchester, CT
    View Details
  • For Sale
    $3,900,000

    Manchester Restaurant & Bar - Sale/Leaseback

    High-traffic location, strong NOI, excellent opportunity.

    103 Tolland Tpke
    Manchester, CT
    View Details
  • For Sale
    $499,000

    Manchester Office Building - Prime Location

    4,630 SF Office/Medical Building - $499,000

    447 Center St
    Manchester, CT
    View Details
  • For Sale
    $197,500

    All Star Wine & Liquor - Manchester, CT

    Profitable Liquor Store, Net Lease, Owner Financing

    All Star Wine & Liquor
    Manchester, CT
    View Details
  • For Sale
    $895,000

    Prime Manchester Storefront

    8,070 SF Retail Space, High Visibility

    2 Main St
    Manchester, CT
    View Details

FAQs

What type of property is this?
Lifestyle center - High-yield NNN retail investment.
Where is the 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.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].

Contacts

Glen Kunofsky
Glen Kunofsky
Anthony DAmbrosia
Anthony DAmbrosia
Stewart Hickey
Stewart Hickey
Josh Kanter
Josh Kanter
Visit Broker Website

Learn more

Useful Information

Request information

Hale Rd
Manchester, CT 06042

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.

Hale Rd
Manchester, CT 06042

Message sent successfully
Error

Email this Information

Link copied to clipboard
Message sent successfully
Error

Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

220 Hale Rd
  • Glen Kunofsky
    Glen Kunofsky
  • Anthony DAmbrosia
    Anthony DAmbrosia
  • Stewart Hickey
    Stewart Hickey
  • Josh Kanter
    Josh Kanter
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message

Sign Up

Already
a member?
By creating an account, you agree to
the Terms of service and acknowledge Privacy policy.

Just one more step, let’s verify your email

We have sent a verification link to

Please check your inbox to complete the process. Just click on the link in that email to complete your Sign up. If you don’t see it, you may need to check your spam folder.

Email verification link expired

It seems that the verification link has expired. No worries! We can send you a new link to

Log In

Don't have
an account?
Forgot password?

Reset your password

New to
Paperhouses?

Enter the email address associated with your account and we'll send you a link to reset your password.

Reset your password
Enter the email address associated with your account and we'll send you a link to reset your password.
New to Paperhouses?

Check your email

We've resent password reset instructions to if it is an email on file.

Please check again. If you still haven't received an email, try a different email.

Check your email

Thanks! If matches an email we have on file, then we've sent you an email containing further instructions for resetting your password. If you haven't received an email in 5 minutes, check your spam, resend, or try a different email.