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Bank

Citizens Bank – Dark

28455 Schoenherr Rd, Warren, MI 48088

Listing Price: $1,105,000

Cap Rate
10.34%
Tenant Name
Citizens Financial Group, Inc.
Years Remaining On Lease
0.8
Guarantor
Corporate Guarantee
Rentable SF
4,636
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$24.64

Investment Overview

Marcus & Millichap is pleased to present Citizens Bank, an opportunity for an investor to purchase a truly iconic brand in the submarket of Warren, MI. The tenant has sent notice that they will not be staying at the site once their base term expires on July 31, 2022. The buyer can cash flow the property until then. This makes this location an ideal re-tenant or redevelopment opportunity. It has excellent frontage and exposure seeing over 24,000 vehicles per day. This prime location has a variety of phenomenal core real estate drivers including massive population density of 121,941 (3-mile) and 341,376 (5-mile). This ensures future appreciation and stability of the location.

Investment Highlights

  • Cash Flow until July 31, 2022 - Tenant has sent notice that they will not be staying at the site once their base term expires on July 31, 2022. Buyer can cash flow the property until then.
  • Ideal Re-tenant or Redevelopment Opportunity - 4,636 SQFT, 0.89 Acres, 40 Parking Spaces
  • Massive Population Density - 14,205 (1-mile), 121,941 (3-mile), 341,376 (5-mile)
  • Multiple Drivers Surrounding Property - Warren Woods High School, St. John Macomb Hospital, Macomb Community College

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Listing Price: $1,105,000

Cap Rate
10.34%
Tenant Name
Citizens Financial Group, Inc.
Years Remaining On Lease
0.8
Guarantor
Corporate Guarantee
Rentable SF
4,636
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$24.64

Investment Highlights

  • Cash Flow until July 31, 2022 - Tenant has sent notice that they will not be staying at the site once their base term expires on July 31, 2022. Buyer can cash flow the property until then.
  • Ideal Re-tenant or Redevelopment Opportunity - 4,636 SQFT, 0.89 Acres, 40 Parking Spaces
  • Massive Population Density - 14,205 (1-mile), 121,941 (3-mile), 341,376 (5-mile)
  • Multiple Drivers Surrounding Property - Warren Woods High School, St. John Macomb Hospital, Macomb Community College

Investment Overview

Marcus & Millichap is pleased to present Citizens Bank, an opportunity for an investor to purchase a truly iconic brand in the submarket of Warren, MI. The tenant has sent notice that they will not be staying at the site once their base term expires on July 31, 2022. The buyer can cash flow the property until then. This makes this location an ideal re-tenant or redevelopment opportunity. It has excellent frontage and exposure seeing over 24,000 vehicles per day. This prime location has a variety of phenomenal core real estate drivers including massive population density of 121,941 (3-mile) and 341,376 (5-mile). This ensures future appreciation and stability of the location.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

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