Key Bank
Retail | 6.00% CAP | 3,195 SF
Marketing description
Horvath & Tremblay is pleased to present the opportunity to purchase a KeyBank Ground Lease located at 1761 Post Road in Fairfield, Connecticut (the “Property”). KeyBank has been at this location since 2005 and recently exercised their renewal option demonstrating their commitment to the site and the market. KeyBank has 5+ years remaining on their Absolute NNN Ground Lease.
KeyBank is positioned at the signalized intersection of Mill Plain Road and Post Road (US Route 1), the area’s primary commercial and commuter corridor. The Property lies in the heart of Downtown Fairfield and enjoys outstanding visibility and frontage. KeyBank is seconds from Interstate 95 and the Fairfield Train Station with direct service to Manhattan’s Grand Central Station and is surrounded by numerous businesses and retailers, all of which drive traffic to the area. The Property also offers convenient access to area schools and densely developed residential neighborhoods that provide a built-in customer base.
Investment highlights
LONG TERM TENANT: KeyBank has been at this location since 2005 and recently exercised their renewal option demonstrating their commitment to the site and the market. KeyBank and has 5+ years remaining on their Absolute NNN Ground Lease.
ZERO LANDLORD RESPONSIBILITIES: The Ground Lease structure requires no landlord management, maintenance, or repair responsibilities, making it an attractive investment for the passive real estate investor.
CORPORATE GUARANTEE: KeyCorp is the holding company for KeyBank and is one of the nation’s largest bank-based financial services companies, with assets of approximately $190 billion as of September 30, 2024. KeyCorp reported revenue of $6.4 Billion in 2023.
STRATEGIC RETAIL LOCATION: KeyBank is centrally located in the heart of Downtown Fairfield and features outstanding frontage and visibility, three points of access, ample on-site parking, and a drive-thru lane. The Property is positioned along the Post Road (US Route 1) and is seconds from Fairfield Train Station (0.25-miles) and Interstate 95 (0.25-miles). The Property is close to area schools including Fairfield Ludlowe Middle & High Schools (0.9-miles) and Fairfield University (1.7-miles).
TRADE AREA: Additional retailers and businesses drawing consumers to the trade area include Stop & Shop, Whole Foods, Home Depot, Equinox, Home Goods, Marshalls, DSW, Restoration Hardware, Michaels, CVS, Rite Aid, Chico’s, Fairfield University Bookstore, Town Fair Tire, Chick-fil-A, McDonald’s, Chipotle, Five Guys, Shake Shack, Starbucks, Circle Diner, Southport Diner, Playa Bowls, Molto, Planet Pizza, Dunkin’, Chase Bank, Bank of America, M&T Bank, Webster Bank, Fairfield County Bank and First County Bank.
OUTSTANDING DEMOGRAPHICS: Over 51,700 people live within 3-miles of the Property with an average household income of over $229,173. More than 140,300 people live within 5-miles of the Property with an average household income of $185,089. Additionally, there are more than 66,100 employees working within 5-miles of the Property.
TRAFFIC COUNTS: On average approximately 30,000 vehicles per day pass by the Property at the intersection of Mill Plain Road and Post Road.
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