19 Halls RdOld Lyme, CT 06371

Property Details for 19 Halls Rd

Lot size

5.22 AC

Property type

Other commercial real estate

APN

OLYM M:21 L:64

APU

OLYMM21L64

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $43,029,756

  Hospitality

  $39,415,028

  Educational

  $32,792,840

  Medical

  $33,920,636

  Retail

  $51,011,084

Location Insight

City

Old Lyme

County

New London

State

Connecticut

Latitude

41.3249

Longitude

-72.3342

CBSA code

35980

CBSA name

NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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