Top Performing US Bank | 4% Annual Increases | ABS NNN
Retail | 5.66% CAP | 8,000 SqFt
Marketing description
Marcus & Millichap has been selected to exclusively market for sale the fee simple interest in an 8,000SqFt Single Tenant Drive Thru building leased to U.S. Bank, located at the signalized intersection of Sunrise Boulevard at Greenback Lane, Citrus Heights, California.
The Property is subject to a long-term Lease originating in 1971 and recently extended an additional Ten (10) year firm term reflecting the Tenant's continued long-term commitment to the location. The Lease extends through December 31, 2035, with Four (4) five-year options.
The Lease provides contractual annual rent increases equal to the greater of CPI or 4%, providing a built-in hedge against inflation and supporting long-term income growth. Rental income increases from $582,947 in 2026 to $829,715 in 2035. The Lease is an absolute triple-net structure with zero landlord responsibilities and is backed by a corporate guarantee from U.S. Bancorp (Operating as U.S. Bank).
The location demonstrates strong bank operating performance, ranking in the top 93rd percentile nationwide by Placer.ai, with over $264 million in total deposits, supporting long-term tenant viability and reinforcing the location's importance within the tenant's branch network.
The Property is part of a Reciprocal Easement Agreement to the Sunrise Tomorrow Specific Plan, a long-term mixed-use redevelopment initiative encompassing the Sunrise Mall trade area. The plan envisions a transformational redevelopment featuring housing, hospitality, retail, entertainment, office, and community-oriented uses designed to revitalize the corridor into a regional destination.
As part of the redevelopment initiative, the City of Citrus Heights recently announced plans for the proposed Sunrise Sports Center, a 160,000SqFt regional sports and entertainment complex envisioned as a catalyst project for the broader Sunrise redevelopment area. Current plans include a 4,000-seat arena, NHL-sized ice sheets, indoor and outdoor sports facilities, restaurants, and entertainment-oriented uses expected to drive additional consumer traffic and long-term investment throughout the immediate area.
Investment highlights
- S&P A-Rated U.S. Bancorp Lease (NYSE: USB) – Corporate-backed credit tenant
- Absolute NNN Cash Flow – 4% annual rent increases with zero landlord responsibilities; inflation-protected growth
- High-Performing Location – $264M+ in total deposits; ranked in the 93rd percentile nationwide (Placer.ai)
- Sunrise Tomorrow Redevelopment – Entitlements approved for a 100-acre mixed-use project
- Long-Term Income – ±9.6 years remaining with (4) five-year extension options
- Strong Rent Growth – Increases from $560K (2025) to $829K (2035)
- Dominant Retail Location – Signalized intersection of Sunrise Blvd & Greenback Ln within the core Citrus Heights corridor
- Catalyst Sports & Entertainment Development – Proposed 160,000 SF Sunrise Sports Center featuring a 4,000-seat arena
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