Multi-Tenant Retail
Citizens Bank | Absolute NNN | Tenant Recently Exercised 5-Year Option | Prime Retail Corridor
23455 Eureka Rd, Taylor, MI
Listing Price: $1,993,240
Click To Access Offering Memorandum- Cap Rate5.85%
- Building SF4,069 SF
- Price/SF$489.86
- Year Built / Renovated1995
Investment Highlights
- Single-Tenant Bank on Absolute Net Lease
- 2% Annual Rent Increases Through Remaining Term & Each of the (2) 5-Year Options
- Tenant Exercised 5-Year Renewal Option — Demonstrating Long-Term Commitment to Site
- 19 Years of Historical Occupancy
- Corporate Guarantee by Citizens Bank, N.A.
One of the Largest Financial Institutions in the U.S.
S&P: BBB+ / Moody’s: Baa1 - 4 Drive-Thru Lanes | 1 Dedicated ATM Lane
- 2024 Deposits: $99.668 Million
- Top Tier Placer.ai Ranking | #130 Nationally (Top 20%)
#6 Location for All Michigan Branches - Prime Location Off Eureka Road (31,438 VPD) Across from Meijer
- Shadow Anchored by Dick’s Sporting Goods, PetSmart, Airborne Adventure Park, & Party City
- Large Retailers Nearby: Target, Hobby Lobby, Kohl’s, Home Depot, BJ’s Wholesale, Menards, & Others
- Strong Retail Market: 3.4 Million SF of Retail within a 1-Mile Radius | 96.4% Occupancy Rate
- Large Industrial Area: 28.3 Million SF of Industrial Space within a 5-Mile Radius | 97.1% Occupancy Rate
- Immediate Access to US-24/Telegraph (56,828 VPD)
- Near I-75 (92,952 VPD)
- Excellent Demographics:
190,777 Residents & $84,346 Average Household Income within a 5-Mile Radius | Daytime Population: 162,190 - Taylor is a Central Hub, Strategically Located Near Detroit Metro Airport (5 Miles from Asset
Michigan Broker of Record | Paul Kerber | Two Towne Square, Ste 450 Southfield, MI 48076 | (248) 415-2600 | Lic #: 6502433613