21800 Greater Mack Ave St. Clair Shores, MI 48080
- Banks
- 6,375 SF
- 1.56 lot acres
Current Use by Public Records
- Citizens Bank ATM / Atm
- Citizens / Atm / Bank
Property Details for 21800 Greater Mack Ave
- Year built
- 1980
- Lot size
- 1.56 lot acres
- Property size
- 6,375 SF
- Property type
- Banks
Description
This exceptional investment opportunity presents a fee-simple ownership of a single-tenant, 6,375 square foot Citizens Bank building situated on a 1.56-acre lot in St. Clair Shores, Michigan (48080). The property boasts a new 5-year absolute NNN lease with a corporate guarantee, ensuring minimal landlord responsibilities. The lease includes annual rent bumps of 2.5%, providing consistent income growth. Furthermore, two five-year renewal options, each with 2.5% annual increases, offer long-term stability. Built in 1980, this one-story building currently generates a Net Operating Income (NOI) of $145,000, representing a 7.00% cap rate on the $2,071,429 asking price ($324.93 per square foot). The property benefits from a strong location within a densely populated area, with over 269,500 residents within a 5-mile radius and an average household income of $82,284 within a 3-mile radius. This is a passive income investment with significant upside potential. The property is 100% occupied.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- St. Clair Shores
- County
- Macomb
- State
- Michigan
- Longitude
- -82.9025603
- Latitude
- 42.4543191
