1 Tooley Ln
Danbury, CT 06810
Hertz · Retail Property For Sale

Great investment property for the long-term investor or 1031 Exchange. Hertz Corporation has been located and leasing this property for 30+ years and recently extended their lease for an additional 10+ years to 30 September 2027. Location for Hertz has been critical to their success in serving the needs of their marketplace in Northern Fairfield county connecting with the major CT and Metro-NY airports including corporate clients. Building and property recently upgraded with interior fit-out. Hertz plans continued building and property improvements during this year. Building is 1,960sf, includes customer rental counter space, admin offices, toilet room and car prep area. Lease is a 10+ year NNN lease with minimal landlord expenses. Lease Base rent increased 3% annually producing a NOI of $66,744 resulting in a Cap rate of 4.46% in 2017. The property is located in Danbury, CT and adjacent to I-84 in a new growth area in Northern Fairfield County which is the Gateway for access via I-84/684 into Eastbound New England and Westbound New York, New Jersey and PA. Metropolitan NY and NJ is only one hour South. This convenient location adjoins I-84 exit 5 at North Main St. in downtown Danbury, CT. The property has direct access to the I-84 EB ramp at the exit. It is a level 1.06 Acres in the valuable multi-use CG-20 zone. The CG-20 zone allows a multitude of high end and generous uses including retail.