3634 Macdonald Ave
Richmond, CA 94805
Citibank - Richmond, California · Retail Property For Sale

DETAILS: Triple Net Investment Grade Tenant – CitiBank with annual rent increases! Highlights: 1) Triple Net - NNN Lease 2) Investment grade tenant - Citibank 3) 1.5 percent annual rent increases 4) Total term: 30 years ( Original lease signed in 2014 which expires in 2024 plus Four 5 year options ) 5) Citibank has been on this location since 1987 6) This is the only Citibank in Richmond, CA 7) This Location is right by the court house, so if anyone needs services such as certified checks, cash deposits etc here is where they come. 8) This branch offers safe deposit boxes, it is very sticky. Given the neighborhood, it can be considered attractive. 9) This branch also offers mortgage services, people do need a place to discuss mortgage plans, sign etc. 10) Citibank recently waived their termination clause showing commitment to the site (the waiver is part of the due diligence documents) 11) 5 .7% CAP rate 12) Future re-development opportunity CM-4 zoning (mixed used)- 20 apartments and 5000 sqft retail (buyer to verify) 13) High density transit oriented downtown location 14) Light rail transit on MacDonald Ave being proposed (buyer to verify from the city) 15) There is a bus stop right in front of the Citibank 16) Proximity to BART, Freeways and Ferry Service to San Francisco from Richmond, CA. REDEVELOPMENT POTENTIAL (Buyer to Verify): Zoning is CM-4; FAR: 2.0 CITY ZONING INFORMATION ZONING ALLOWANCES: Mixed used with 20 apartments / condo's and retail below (buyer to verify)