Huntington Bank
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

CONTACT US REGARDING THIS LISTING

Richard G. Ludwig

Senior Director

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PROPERTY ADDRESS

26336 Twelve Mile Rd., Southfield, MI 48034

PROPERTY INFORMATION

Price:
$1,861,689
Cap Rate:
6.75%
Term Remaining:
6 Years
Status:
Available

INVESTMENT HIGHLIGHTS

  • NNN Lease Guarantees Minimal Landlord Responsibilities
  • 6.7 Years Remaining, Guaranteed by Huntington National Bank
  • 10% Bumps Every 5 Years, Including all Five, Five (5) Year Options

INVESTMENT SUMMARY

Fortis Net Lease is proud to present this single tenant, investment property offering located at 26336 Twelve Mile Road in Southfield, MI, home to Huntington Bank. The property features a 15 year lease which commenced on August 18th, 2008, leaving 7 years remaining on the primary term. The lease is triple net (NNN) in nature guaranteeing an investor a passive investment opportunity. Rental escalations are 10% every 5 years, including all of the five, five-year options.

The subject property is situated just off the intersection of Twelve Mile Road and Northwestern Highway, a major corridor through Southfield boasting 120,000 vehicles per day. Ramp access to I-696, the largest East-West road in the region, is less than 1 mile away from the site. There are over 191,000 people within 5 miles of the property, with a median household income exceeding $70,000. Nearby retailers include Walgreens, Burger King, Family Dollar, Dunkin’ Donuts, PNC Bank, McDonald’s, Chase Bank, Valero and numerous local business.