loader
Join Free
Views: 92 DOM: 69 Updated: 10.30.24 Posted: 09.13.24 Status: Active

Summary

Price $2,071,429
Built/Renov 1980
Tenant Citizens Bank
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 6,375
Lease Start 08-01-2023
#Units 1,100
Price/SF $324.93
Expiration 07-31-2028
Tenant Type Bank/Financial
NOI $145,000
R. Term 3.8
Ownership Fee Simple
Rent/SF $22.75
Increases 2.5%/1/yrs
Pop 5Mi 269,104
Lot/AC 1.56
Options 2/5yrs/2.5%
AHHI 5Mi $76,232

Lease Highlights

  • Citizens Bank has 3+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 2.5% annual rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Citizens Bank is strategically located on Greater Mack Avenue, benefiting from proximity to prominent national tenants such as CVS Pharmacy, Target, Walmart, Kroger, Meijer, and more. Key educational institutions within a 3-mile radius include Lakeview High School, South Lake High School, and Grosse Pointe North High School. The 5-mile trade area serves a population of 269,104 residents, with...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Citizens Bank, a subsidiary of Citizens Financial Group, Inc., is one of the nation’s oldest and largest financial institutions, with $222.2B in assets as of December 2023. Citizens offers a...


...

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity