Comerica Bank Credit Rating & NNN Cap Rate

Comerica Bank Business Overview

Comerica Incorporated, based in Dallas, was acquired by Fifth Third Bancorp on February 1, 2026 in an all-stock transaction valued at about $12.7 billion. Comerica’s two banks, Comerica Bank and Comerica Bank & Trust, National Association, merged into Fifth Third Bank, National Association the same day. At the time of the merger, Comerica operated 351 full-service banking centers, mainly in Michigan, Texas and California.

Under federal banking law, when a bank merges into a national bank, the receiving bank is liable for all liabilities of the bank merged into it (12 U.S.C. 215a), so leases signed by Comerica Bank generally became obligations of Fifth Third Bank, National Association. Confirm the tenant of record for each property, and check whether the branch is still open as Fifth Third integrates the two networks.

Comerica Bank Credit Profile

Our ratings database shows the senior debt ratings of Fifth Third Bank, National Association, the surviving bank, for former Comerica leases: A-/A3. Banks often carry separate ratings for the holding company and the bank, so confirm which entity is the named tenant and which rating applies to it. See the Fifth Third Bank NNN guide for the combined bank’s profile.

Ratings come from our tenant ratings database; the source note below shows where each rating comes from. A rating at or above BBB‑/Baa3 is investment grade; see the investment grade guide.

Source: S&P Global Ratings A-, Stable, as of August 4, 2026; Moody’s A3, Negative, as of August 4, 2026; Fitch Ratings A-, Stable, as of August 4, 2026. Ratings checked October 8, 2026.

Comerica Bank NNN Cap Rates

Live asking cap rates for Comerica Bank and comparable tenants:

Active listings InvestmentGrade.com tracks with an asking cap rate (stated in the listing, or computed from its stated income and price when no rate is stated), listings last observed October 12, 2026. Asking cap rates are not closed-sale cap rates. The middle half is the range from the 25th to the 75th percentile of listings. The 10-year Treasury yield is 5.24% as of October 1, 2026 (FRED series DGS10). Ratings are the agency ratings in our ratings database for the entity shown, which may be a parent company; the rating type (for example issuer, senior unsecured debt, long-term debt or revenue bond ratings) varies by company and is shown on each tenant page. A rating applies to a lease only if the rated entity signs or guarantees it, so confirm the tenant and any guarantor in the lease. n/a means no verified rating is on file. Not shown because fewer than 3 active listings with a published cap rate were observed: Comerica Bank, Huntington Bank.

Bank branch asking cap rates can differ between ground leases, where the bank owns the building, and building leases. Compare a former Comerica branch with Fifth Third and other bank listings of the same structure and similar remaining term.

What to Check in a Comerica Bank Lease

• Tenant entity: confirm Fifth Third Bank, National Association is the tenant of record through the lease, the merger documents or an assignment, and a current estoppel.
• Branch status: whether the branch is open or has been consolidated since the merger.
• Early termination rights: some bank leases allow the bank to close the branch and end the lease early.
• Ground lease or building lease: who owns the improvements and who pays for roof, structure and parking lot.
• Branch deposits: FDIC Summary of Deposits data show the deposits booked at the branch, one indicator of its importance to the bank.

Pros and Cons

Sources: Fifth Third Bancorp Form 10‑Q for the quarter ended June 30, 2026; ratings from InvestmentGrade.com’s ratings database.