Marcus & Millichap closed the sale of a net-leased Huntington Bank property in Southfield, Michigan. The property sold for $2.15 million.
Ashish Vakhariya, Seth Haron and Darin Gross, investment specialists in Marcus & Millichap’s Detroit office, had the exclusive listing to market the property on behalf of the seller, a private developer, and closed with a local, all-cash buyer.
The 5,749-square-foot property is located at 24805 W. 12 Mile Road. Built in 2008, the property sits on a 0.75-acre lot and features four drive-thru lanes and an ATM. Huntington Bank recently signed a new 10-year triple-net ground lease, which began in March 2024. The bank is positioned within Southfield’s core retail trade area and office hub, with more than 13.4 million square feet of retail space and 31.5 million square feet of office space within a five-mile radius.
