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