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Citizens Bank NNN Asset

23521 Van Dyke Ave, Warren, MI

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For Sale

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Citizens Bank NNN asset with extended lease and options.

Type:OFFICE

Property size:

3,717 SF

Lot size:

0.63 Acres

Price / SF:

$242/SF

HighLights

High‑Performing Branch: Over $116 Million in Deposits, and is the Only Bank Branch in That Zip Code.
Investment‑Grade Credit Tenant: Backed By Citizens Financial Group (NYSE: CFG), a Publicly Traded Financial Institution.
Absolute Triple Net Lease: Recently Extended Lease With 6 Years Remaining on the Lease Term and (2) Additional 5 Year Options.
Priced Well Below Replacement Cost.
Recent Lease Extension Signals Tenant Commitment: Citizens’ Decision to Extend the Lease in 2025.
Drive‑Thru Equipped Branch: Features Two Dedicated Drive‑Thru Lanes.

We can help!

Listing Contact

Ross Staples

For Sale

Contact for pricing

Citizens Bank NNN asset with extended lease and options.

Type:OFFICE

Property size:

3,717 SF

Lot size:

0.63 Acres

Price / SF:

$242/SF

Added:: Jun 11, 2025
Days on Market:: 369
Last Refresh:: May 20 at 9:50 pm

Property Features for 23521 Van Dyke Ave

General Information

Standard status: Active
Size: 3,717 SF
Lot size: 0.63 Acres
Property subtype: OFFICE

We can help!

Listing Contact

Ross Staples

Listing agent Ross Staples

Listing office Sands Investment Group (SIG) - Corporate

Listing date Jun 11, 2025

Source Moodyscre

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Sands Investment Group (SIG) - Corporate

HighLights

High‑Performing Branch: Over $116 Million in Deposits, and is the Only Bank Branch in That Zip Code.
Investment‑Grade Credit Tenant: Backed By Citizens Financial Group (NYSE: CFG), a Publicly Traded Financial Institution.
Absolute Triple Net Lease: Recently Extended Lease With 6 Years Remaining on the Lease Term and (2) Additional 5 Year Options.
Priced Well Below Replacement Cost.
Recent Lease Extension Signals Tenant Commitment: Citizens’ Decision to Extend the Lease in 2025.
Drive‑Thru Equipped Branch: Features Two Dedicated Drive‑Thru Lanes.

Overview

The property available for sale is a 3,717 square foot Citizens Bank NNN asset located at 23521 Van Dyke Rd in Warren, MI. The property features a recently extended absolute triple net lease with 6 years remaining on the lease term and two additional 5-year options. The property is priced below replacement cost. The location is a high-performing branch with over $116 million in deposits and is the only bank branch in that zip code. The tenant is backed by Citizens Financial Group (NYSE: CFG), a publicly traded financial institution with a $7B+ market cap and over 1,100 branches across 11 states. The branch is drive-thru equipped with two dedicated drive-thru lanes. Citizens’ decision to extend the lease in 2025 confirms its long-term operational confidence in the site.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$75.8k	$20.40
− Vacancy	−$3.8k	−$1.02
EGI	$72.0k	$19.38
− OpEx	−$18.0k	−$4.85
NOI	$54.0k	$14.54

3,717 SF · lease $20.40/SF/yr · vacancy 5.00% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$771.8K

$675.3K – $900.5K (±1% cap)

NOI $54,027 @ 7.0% cap · market cap 6.00%

Second Best

Retail

$654.0K

$572.3K – $763.0K (±1% cap)

NOI $45,782 @ 7.0% cap · market cap 5.09%

Theoretical Best

Office A

$820.0K

$717.5K – $956.7K (±1% cap)

NOI $57,399 @ 7.0% cap · market cap 6.38%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Citizens Bank ATM Atm Citizens Bank

Suggested Use

Location Insight

Map
Local Demand

City: Warren
County: Macomb
State: Michigan
Longitude: -83.0274
Latitude: 42.467

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For sale
Banks
MI
Warren
23521 Van Dyke Ave

What type of property is this?

Bank - Citizens Bank NNN asset with extended lease and options.

Where is this bank located?

The property is located at 23521 Van Dyke Ave Warren, MI.

What is the asking price?

The asking price for this property is $900,000.

What are key features of this property?

This property features: High‑Performing Branch: Over $116 Million in Deposits, and is the Only Bank Branch in That Zip Code.; Investment‑Grade Credit Tenant: Backed By Citizens Financial Group (NYSE: CFG), a Publicly Traded Financial Institution.; Absolute Triple Net Lease: Recently Extended Lease With 6 Years Remaining on the Lease Term and (2) Additional 5 Year Options.

23521 Van Dyke Ave, Warren, MI

Citizens Bank NNN asset with extended lease and options.

Property Features for 23521 Van Dyke Ave

General Information

We can help!

HighLights

Overview

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Specialty Commercial Property

Two-Story Medical Office with Reception

Turnkey Restaurant Business and Real Estate

Retail/Industrial Buildings on Groesbeck Highway

Turn-Key Banquet Hall For Sale

Turnkey Business on Busy 9 Mile

Well-Maintained Multifamily Income Property

Industrial Flex Building with Office

Versatile Commercial Property on 1.86 Acres

Warren Commercial Property Near GM

Multi-Purpose Event Center

Two-Unit Bungalow Duplex

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