1 Tooley Ln
Danbury, CT 06810
Hertz Corporation- leased property · Retail Property For Sale

Investment property for Sale! This location has been key for Hertz in their success for serving the needs in Danbury and Northern Fairfield county. The property provides excellent access to both CT and Metro-NY airports for regional corporate clients. The building and property have recently been upgraded with new interior fit-out. The existing building is 1,960sf and includes customer rental counter space, private offices, and a car prep area. There are 9+ years remaining on this NNN lease with minimal landlord expenses exposure. The base rent for 2018 is $68,746 with 3% annual increases yielding a 2018 Cap rate of 6.28%. The property is in Danbury, CT and adjacent to I-84 at Exit 5 with both East and West on and off ramps. The location is approximately one-hour drive to metro New York and Hartford. The property is a level 1.06 Acres parcel zoned CG-20 which allows numerous retail uses. The property is secured with a fenced parking lot allowing space for over 60 cars to be parked or over 100 to be stored. The lease is a 10+ year NNN lease with minimal landlord expense responsibilities. The lease Base rent is increased 3% annually producing a 2018 NOI of $68,746 resulting in a Cap rate of 6.28% in 2018. Hertz Corporation has three (3) additional five year options to renew the lease. Contact for additional info or to visit the property please call George F. Walker - 203-733-0692.