MLS® ID: 99174749
1 Tooley Lane
Danbury, Connecticut, 06810 $1,295,000
Property is a great investment property for long-term investor or a 1031 Exchange. Hertz Corp. as Tenant has leased this property for 30+ years and extended lease for an additional 10+ years through 9/30/27. Adjoins I-84 exit 5 at North Main St. Danbury, CT. 1.06 Acres in the valuable multi-use CG-20 zone. Upgraded with new interior fit-out and parking lot refurbishment. Hertz Corp. plans continued building improvements during the next year. The building is 1,960sf and includes customer front sales/rental counter space, admin offices, toilet rooms and the car prep area. Lease is a 10+ yr NNN lease with minimal landlord expenses. Lease Base rent is increased 3% annually producing a NOI of $66,744 resulting in a Cap rate of 5.2% in 2017.