Investment Overview

Marcus & Millichap is pleased to present Citizens Bank located at 23455 Eureka Road in Taylor, Michigan. The property is situated on a 0.63-acre lot with ample parking and four drive-thru lanes and ATM. The tenant operates on an absolute net lease, which includes two percent annual rental increases throughout the remaining lease term and renewal options. The branch has outstanding foot-traffic data per Placer.ai, ranking in the top 15 percent nationally, and is the number three location for the state of Michigan. Citizens Financial Group, Inc. (S&P: BBB+ / Moody’s: Baa1) is one of the nation’s oldest and largest financial institutions, with $219.9 billion in assets as of June 30th, 2024. Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. The company operates over 3,300 ATMs and more than 1,000 branches across 14 states and the District of Columbia.. The bank benefits from high visibility and convenient access off Eureka Road (31,438 VPD), near Telegraph/US-24 (56,828 VPD), and Interstate-75 (92,952 VPD). The property is shadow-anchored by major retailers including Dick’s Sporting Goods, PetSmart, Airborne Adventure Park, and Party City. The subject property is situated in a prime retail market with over 3.4 million square feet of retail within a one-mile radius and 14.7 million square feet within a five-mile radius. The area features a variety of national retailers such as Target, Hobby Lobby, Value City Furniture, Burlington, Kohl’s, Bob’s Discount Furniture, Home Depot, BJ’s Wholesale, Menards, as well as numerous car dealerships and restaurants. This market is further supported by a robust industrial presence, encompassing over 28.3 million square feet within five miles. The City of Taylor is located in Wayne County, Michigan, and is part of the Downriver region of Metropolitan Detroit. Known as a central hub, Taylor benefits from its strategic location at the intersection of major transportation routes such as I-94 and I-75, as well as US-24 (Telegraph Road). It is situated just south of Dearborn and Detroit, and is close to the Detroit Metropolitan Airport, making it an accessible and well-connected area. This location has led to the city’s slogan, “All roads lead to Taylor.” Taylor is the fifth most-populated city in Wayne County and the 17th most-populated city in Michigan. There are over 198,350 residents with an average household income exceeding $79,000 within five miles of this asset.