147 Main St
Gloucester, MA 01930
Citizens Bank · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 8+ years of primary term remain on the recently extended NNN lease with three five-year options thereafter
- The lease is corporately guaranteed by Citizens (NYSE: CFG), rated investment grade BBB+ credit with a stable outlook by Standard & Poor’s
- Deposits in excess of $111M at this branch (as of June 30, 2021)
- 2% rental increases annually throughout the primary term and the options periods
- As of June 30, 2022 Citizen’s reported $226.7 billion in assets, $159 billion in deposits, 1,200+ branch locations and 3,300 ATMs
- Surrounded by nearby national tenants such as Shaw’s, Walgreens, CVS, TD Bank, Santander, McDonald’s and Dunkin’ Donuts
PROPERTY FACTS
Property Type
Retail
Property Subtype
Bank
Building Size
4,596 SF
Building Class
B
Year Built/Renovated
1976/2020
Tenancy
Single
Building Height
1 Story
Building FAR
0.50
Lot Size
0.21 AC
Zoning
000
Parking
10 Spaces (2.18 Spaces per 1,000 SF Leased)
Frontage
40’ on Main St
PROPERTY TAXES
| Parcel Number | GLOU-000008-000041 | Improvements Assessment | $256,600 |
| Land Assessment | $309,000 | Total Assessment | $565,600 |
