21800 Greater Mack AveSt. Clair Shores, MI 48080

Property Details for 21800 Greater Mack Ave

Year built

1980

Lot size

1.56 AC

Property size (Sq ft)

6,375 SF

Property type

Retail properties

Property subtype

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.

Location Insight

City

St. Clair Shores

County

Macomb

State

Michigan

Latitude

42.4543

Longitude

-82.9026

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].