Comerica Bank

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Comerica Bank

260 Brown Rd Auburn Hills MI Oakland County

Sales Price: $1,597,200

Cap Rate: 5.00%

Lease Expiration: 10/31/2031

Contact Person(s): Daniel H. Kukes
Kevin J. Baker
Jason M. Greenspan
Maxwell E. Lippitt

Description:

STRONG RETAIL LOCATION

  • The subject property sits adjacent to Staples/Best Buy and a well performing Costco.
  • Other big box retailers anchor the corridor including Target, Sam’s Club, Home Depot, Menards, ALDI, and a new 2-hotel development.
  • Comerica Bank sits across from Great Lakes Crossing Outlet Mall-one of Michigan’s best performing regional malls.

ESTABLISHED LOCATION WITH RENT INCREASES

  • Subject property is a ground lease with no landlord responsibilities.
  • Comerica Bank has been at this location since 2001, and has maintained a strong presence in this corridor.
  • The tenant recently renewed at this location showing their long-term commitment to the property.

Building Size: 3,222 SF

Lot Size: 1.4 acres

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 2,463 39,885 133,210
Avg. HH Income: $72,233 $81,389 $85,653

LANDMARK INVESTMENT SALES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.