Skip to main content

Bank

Citizens Bank

324 N Prospect St, Herkimer, NY 13350

Listing Price: $650,000

Cap Rate
10.00%
Tenant Name
Citizens
Years Remaining On Lease
0.4
Gross SF
3,173
Guarantor
Corporate Guarantee
Rentable SF
3,173
Price/Gross SF
$204.85
Lease Type
Absolute Net
Rent Per Square Feet
$20.49

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an absolute net lease Citizens Bank in Herkimer, New York. The property consists of a 3,173-square-foot, freestanding building that sits on 0.36 acres of land. There are 0.7 years remaining on the current lease term.

Investment Highlights

  • Central New York Redevelopment Opportunity - Citizens Bank has Future Rent Obligations Over the Remaining Term of the Lease
  • Absolute Net Lease - Allows New Owner to Reposition Without Incurring NNN Costs
  • Excellent Visibility on North Prospect Street in the Heart of Herkimer
  • Herkimer is Part of the Utica-Rome MSA, Situated Between Albany and Syracuse in Central New York

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (212) 430-5100

    License(s) NY: 10311204479

    New York

Financing By

Listing Price: $650,000

Cap Rate
10.00%
Tenant Name
Citizens
Years Remaining On Lease
0.4
Gross SF
3,173
Guarantor
Corporate Guarantee
Rentable SF
3,173
Price/Gross SF
$204.85
Lease Type
Absolute Net
Rent Per Square Feet
$20.49

Investment Highlights

  • Central New York Redevelopment Opportunity - Citizens Bank has Future Rent Obligations Over the Remaining Term of the Lease
  • Absolute Net Lease - Allows New Owner to Reposition Without Incurring NNN Costs
  • Excellent Visibility on North Prospect Street in the Heart of Herkimer
  • Herkimer is Part of the Utica-Rome MSA, Situated Between Albany and Syracuse in Central New York

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an absolute net lease Citizens Bank in Herkimer, New York. The property consists of a 3,173-square-foot, freestanding building that sits on 0.36 acres of land. There are 0.7 years remaining on the current lease term.

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (212) 430-5100

    License(s): NY: 10311204479

    New York

Financing By

MM Texture Background
MM Textured Background Lower