Citibank
| Status | Sold |
|---|---|
| Price | $4,400,000 |
| Cap Rate | 9.26% |
| NOI | $407,333 |
| Lease Type | Absolute NNN |
| Lease Term | 10 Years |
| Lease Start | March 2015 |
| Lease Expiration | March 2025 |
| Building Size | 18,063 SF |
| Lot Size | 50530 AC |
Overview
The site includes three hard corners – the Southwest and Southeast corners of Ogden and Oak Avenues, and the Southwest corner of Sunnyside Avenue. The parcel on the Southwest corner of Ogden and Oak Avenue consists of drive-thru ATMs and parking. There is substantial parking located on the site where the branch is located, with ingress/egress off Ogden and Sunnyside Avenues.
The property lies adjacent to numerous office and retail establishments, in addition to easy access to the surrounding residential base. The branch is located within the regional retail corridor with national credit tenants including: CVS, Dunkin’ Donuts, Advance Auto Parts, Family Dollar, AutoZone, and Walgreens. This location is further enhanced by its proximity to Brookfield Zoo, a regional tourist destination.
Brookfield is characterized as a densely-populated community. More than 115,000 residents, with an average household income exceeding $91,000, reside within a 3-mile radius of the branch. The branch’s deposits of over $107 million reinforce the long-term success of this location.
