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
Lead Agent

Darin Gross

Senior Director Investments

Lic: MI 6501384871

Seth Haron

Managing Director Investments

Lic: MI 6501373006

Ashish Vakhariya

Senior Managing Director Investments

Lic: MI 6501322501

Michigan Broker of Record | Paul Kerber | Two Towne Square, Ste 450 Southfield, MI 48076 | (248) 415-2600 | Lic #: 6502433613