loader
Join Free
Views: 275 DOM: 274 Updated: 10.10.24 Posted: 07.04.24 Status: Active

Summary

Price $1,449,000
Built/Renov 1971
Tenant Citizens Bank
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,238
Lease Start 06-14-2007
#Units 1,100
Price/SF $447.50
Expiration 06-30-2029
Tenant Type Bank/Financial
NOI $94,138
R. Term 4.2
Ownership Fee Simple
Rent/SF $29.07
Increases 10.0%/5/yrs
Pop 5Mi 213,448
Lot/AC 1.89
Options 2/5yrs/10%
AHHI 5Mi $86,243

Lease Highlights

  • Citizens Bank has 4+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 10% rental increases at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • This Citizens bank branch has operated for over 50 years and boasts an impressive deposit base in excess of $147 million as of June 30, 2023
  • Corporate guarantee | Investment grade tenant

Location Description

Citizens Bank is strategically located on York Road, with access to 13,362 vehicles passing by daily. The property is situated adjacent to Cuyahoga Community College’s 236-acre Western Campus, which has an enrollment of 12,000 students each year. The site is just feet from Family Dollar, Sunoco, Conrad’s Tire Express & Total Car Care, Blue Falls Car Wash, Shell, Marsella’s Pizza, and Southside...

...

Maps

This image is no longer available
Rotate the view
Google
Image may be subject to copyright
This image is no longer available
Rotate the view
Google
Image may be subject to copyright
  • 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...


...

Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 11,378 88,328 205,989
2024 Total Population : 11,662 90,253 210,605
2024 Employed Civilian Pop : 6,107 48,328 114,795
2024 Total Businesses : 107 2,176 7,651
2024 Average Household Income : $ 87,408 $ 92,489 $ 92,915
2024 Total Consumer Spending : $ 412 M $ 3262 M $ 7634 M
2024 Median Age : 46 45 43
2024 Total Households : 5,340 40,139 93,244
2024 Pop Age 25+: Bachelor's Degree : 1,390 14,114 31,536
2024 Average Home Value : $ 200,420 $ 221,475 $ 222,448
*ESRI data is presented for informational purposes only

Listing Broker

Loading...
Thomas Carr

CBRE: NLPG Atlanta

Contact
  • 135 Listings
  • 23553 Views
  • 76 Sold
Brian Pfohl

CBRE: NLPG Atlanta

Contact
  • 132 Listings
  • 22709 Views
  • 74 Sold

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

...

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

...
Chris Bosworth

CBRE: NLPG Atlanta

Contact
  • 133 Listings
  • 23390 Views
  • 77 Sold

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

...
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
BESbswy
BESbswy
BESbswy
BESbswy
BESbswy