Citizen Bank - Buffalo NY

The property is located on Delaware Ave, which sees approximately 22,150 VPD, and is just off a central retail corridor, Sheridan Dr, which sees 27,936 VPD. Buffalo is the second-largest city in New York and has seen a population growth of 6.5% from 2010 to 2020. The Subject Property is located within the heavily populated northern suburbs of the city, with over 140,000 Residents within a 3-mile radius.SCOPE Commercial Real Estate Investment Services is pleased to exclusively present 3494 Delaware Ave, located in Buffalo, New York. The Subject Property consists of 4,500 SF and currently operates as a Citizens Bank with an absolute NNN lease. Citizens Bank recently signed the 7-year lease term, with 5% increases every three years and renewal options offering four (4) three (3) year terms. Citizens Bank, one of the largest banks on the East Coast, backs the lease with a corporate guarantee, with an S&P A- credit rating. Citizens Bank is the 13th largest retail bank in the United States. From 2020 to 2021 Citizens Financial Group has seen a 5% increase in deposits at Citizen Banks. The Subject Property’s location, which has been open since 2005 and backed by FDIC, has seen a 33% growth in deposits from 2020 ($76,240,000) to 2021 ($101,591,000).