Single-Tenant Retail

Huntington Bank | New 10-Year NNN Ground Lease

24805 W 12 Mile Rd, Southfield, MI

Listing Price: $2,243,125

Click To Access Offering Memorandum
  • Cap Rate6.00%
  • Building SF5,749 SF
  • Price/SF$390.18
  • Year Built / Renovated2008

Investment Highlights

  • Single-Tenant Bank on NNN Ground Lease
  • New 10-Year Lease | 9.5 Years Remaining
    Rent Increase in 2029 & in Options
  • Corporate Guarantee by The Huntington National Bank
    Largest Bank in Michigan & Ohio | S&P: A- / Moody’s: A3
  • Strong Performing Branch (2023 Deposits: $163.9 Million)
  • 4 Drive-Thru Lanes | 1 Dedicated ATM Lane
  • Top 30% Placer.ai Ranking for All Michigan Branch Locations
  • Prime Location Near Southfield’s Office Hub
    31.5 Million SF of Office Space within a 5-Mile Radius
  • Southfield is Home to Over 10,000 Businesses Including More Than 100 “Fortune 500” Companies
  • Large Retailers Nearby: Meijer, Lowe’s, Best Buy, Michaels, PetSmart, & Others
  • Strong Retail Market: 13.4 Million SF of Retail within a 5-Mile Radius | 92.1% Occupancy Rate
  • Immediate Access to US-24/Telegraph, I-696, & M-10 (294,861 VPD Combined)
  • Excellent Demographics: 214,291 Residents & $113,175 Average Household Income within a 5-Mile Radius | Daytime Population: 262,984
Lead Agent

Ashish Vakhariya

Senior Vice President Investments

Lic: MI 6501322501

Darin Gross

Senior Associate

Lic: MI 6501384871

Seth Haron

First Vice President Investments

Lic: MI 6501373006

MICHIGAN BROKER OF RECORD: STEVEN R. CHABEN | 2 TOWNE SQUARE, SUITE 450, SOUTHFIELD, MI | 248.415.2600 | LIC: MI 6502387903