Interested in selling your Citizens Bank NNN property or Citizens Bank lease property and was wondering what you can get for it in today’s changing market?
Contact us for a complimentary broker opinion of value for your off-market Citizens Bank NNN property for sale or Citizens Bank ground lease property for investment, specifically tailored to support your 1031 exchange requirements. This valuable assessment will provide you with the necessary clarity to make informed decisions regarding the sale of your Citizens Bank NNN property or the inclusion of a Citizens Bank ground lease property in your investment portfolio. As specialists in working with 1031 exchange buyers seeking off-market Citizens Bank properties, we are dedicated to delivering competitive offers with reduced fees to help you maximize your investment returns.
Number of locations
As of January 2023, Citizens Bank has over 7,000 branches and 4,000 ATMs in 14 states in the United States.
Revenue and income
In 2022, Citizens Bank’s total revenue was \$22.7 billion. Net income was \$1.4 billion.
Future plans
Citizens Bank plans to expand its presence in the Northeast and Mid-Atlantic regions. 2023 the company plans to open over 50 new branches and 1,000 new ATMs. Citizens Bank also invests in new technologies like mobile banking and digital lending.
Corporate vs. franchise
About 70% of Citizens Bank branches are corporate-owned. The remaining 30% are franchised. Franchisees typically pay a franchise fee of \$50,000 to \$100,000 and a royalty fee of 1% of gross sales.
Additional information Citizens Bank Properties
Citizens Bank was founded in 1812 in Providence, Rhode Island.
The company’s name refers to the fact that it was initially a coffee house called “The City Bank of New York.”
Citizens Bank ranks among the largest banks in the United States.
The company’s most popular products include checking accounts, savings accounts, credit cards, loans, and investment services.
Citizens Bank is a subsidiary of Citigroup Inc., a global financial services company.
Citizens Bank History
Citizens Bank was founded in 1812 in Providence, Rhode Island. The company’s name refers to the fact that it was initially a coffee house called Citizens Bank, formerly known as “The City Bank of New York,” which holds a prominent position as one of the oldest and largest banks in the United States, boasting a rich and storied history. The bank has a long and rich history. In the early 1800s, Citizens Bank was one of the first banks to offer checking and savings accounts. The bank’s significant role in financing the Industrial Revolution is also worth mentioning. In the 1900s, Citizens Bank expanded its operations across the United States. Today, Citizens Bank has over 7,000 branches and 4,000 ATMs in 14 states in the United States.
Why Invest in Ground Lease and NNN Lease of Citizens Bank ?
Investing in Citizens Bank’s ground lease and triple net (NNN) lease properties offer compelling reasons:
1) Citizens Bank NNN Property Investment: Stable income
Citizens Bank is a well-established and profitable company with a long history of paying rent on time. Investors can rely on this as a dependable source of income..
2) Citizens Bank NNN Property Investment: Established tenant
Citizens Bank is a large and well-known company with a strong brand. This reduces the risk of vacancy or lease default.
3) Citizens Bank NNN Property Investment: Low management responsibility
The tenant manages the property, including maintenance and repairs. This minimizes the landlord’s management obligations.
4) Citizens Bank NNN Property Investment: Favorable lease terms
Citizens Bank ground and NNN leases typically have long terms with built-in rent escalations. This provides investors with predictable income and potential rental growth.
5) Citizens Bank NNN Property Investment: Real estate value
Citizens Bank branches are typically located in high-traffic areas. This can increase the property value, offering potential capital appreciation.
Pros and Cons of Citizens Bank Ground Lease and NNN Lease Investment
Pros:
1. Stable income from a well-established company.
2. Established tenant reduces vacancy and lease default risks.
3. Minimal management responsibility for landlords.
4. Long lease terms provide stability and potential income growth.
Cons:
1. Lease renewal risk when the term expires.
2. Dependency on Citizens Bank’s success and operational challenges.
3. Market saturation and competition affect profitability.
4. Limited control over property decisions.
5. Economic and market risks inherent in real estate investments.
Thorough due diligence and consideration of location, lease terms, tenant strength, and investment strategy are essential. Seek guidance from real estate professionals and financial advisors to align with your goals and risk tolerance.