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Last updated on Wednesday, September 08, 2010
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We focus on providing quality 1031 exchange replacement properties and traditional
triple net & multi tenant retail, industrial, office, and shopping center
investments nationally.
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TCF National Bank
Dearborn Heights, MI
Bldg Size: 4,500 sq. ft.
Land: 1.43 Acres
Lease Type: Ground Lease
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Price: $1,143,000
Yield: 7 (CAP)
Expiration Date: 1/31/2027
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17 years remaining on an absolute NNN Ground Lease to TCF National Bank (S&P: BBB+)
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Rent escalates on February 1, 2012 taking the cap rate to 7.35%
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Property is located on Michigan Avenue, an eight lane, main east-west retail corridor (43,900 VPD)
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Building is directly across from Home Depot with a double U-turn lane near McDonald’s, Burger King, Taco Bell, KFC and Bank of America
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Property has excellent street frontage, visibility and access with three points of ingress/egress
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There are 13,622 people in a one mile radius with an average household income over $65,190
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Building was constructed in 2007 and includes a five lane drive thru
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