PNC Bank NNN Property For Sale
This investment offering features a PNC Bank ground lease, providing a stable income stream from a tenant with investment-grade credit. PNC Bank typically selects prime real estate locations for its branches, with properties often ranging from 1 to 1.5 acres and buildings between 3,500 to 4,800 square feet. The lease structure is triple net (NNN), making it a highly desirable passive investment opportunity. Ground leases offer fee simple ownership, and in the event of default, the building reverts to the landlord. Primary lease terms are typically 15 to 20 years, with options for up to five additional 5-year renewal periods. Leases also include attractive rent escalations, enhancing long-term returns. PNC Bank is a financially strong institution, ranked as the 6th largest bank in the U.S.…
- Asking price $3.00M
- 4.00% cap rate
- NOI $175,000
- 15 years remaining
- NNN lease
Asset type: Retail