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Views: 106 DOM: 573 Updated: 09.13.24 Posted: 02.23.23 Status: Active

Summary

Price $2,854,103
Built/Renov 2008
Tenant PNC Bank
Cap Rate 5.85%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,285
Lease Start 01-01-2008
#Units 2,300
Price/SF $1,249.06
Expiration 12-31-2027
Tenant Type Bank/Financial
NOI $166,965
R. Term 3.3
Ownership Fee Simple
Rent/SF $73.07
Increases 0.0%/0/yrs
Pop 5Mi 314,696
Lot/AC 0.78
Options 1/5yrs
AHHI 5Mi $88,451

Lease Highlights

  • PNC Bank has been operating in this location since 2008
  • There are over 4.5 years remaining on the current lease with 1 (5-year) options to extend
  • Favorable NN+ lease landlord responsible for roof & structure
  • Corporate guarantee by PNC Financial Services Group Inc. (NYSE: PNC)
  • PNC Bank is an investment grade tenant (S&P: A-)

Location Description

PNC Bank is strategically located at the hard corner, signalized intersection along Blanco Road, which sees 35,213 vehicles per day, the subject property is also within a quarter mile of Northwest Interstate 410 which sees over 270,000 vehicles per day. The subject property is well positioned as an outparcel to Target at Park North Shopping Center which attracts thousands of consumers daily....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: PNC Bank
  • Guarantor:Corp T and Rated
  • Company:PNC Financial Services Group Inc.
  • # Units:2,300
  • Tenant S&P: A-
  • Moody’s: A3
  • Stock: NYSE: PNC

About Tenant

PNC Bank, a subsidiary of The PNC Financial Services Group, Inc., is an American bank holding company and financial services corporation that operates in 27 states and the District of Columbia,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 10,612 105,460 305,065
2023 Total Population : 10,855 108,409 311,155
2023 Employed Civilian Pop : 4,930 54,957 161,249
2023 Total Businesses : 1,248 8,516 19,446
2023 Average Household Income : $ 75,800 $ 82,303 $ 91,933
2023 Total Consumer Spending : $ 298 M $ 3238 M $ 10886 M
2023 Median Age : 40 38 38
2023 Total Households : 4,518 45,000 135,917
2023 Pop Age 25+: Bachelor's Degree : 1,603 14,954 52,003
2023 Average Home Value : $ 326,742 $ 308,370 $ 344,266
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Blanco Rd Thames Dr 2000 22,820 0.04 mi
Thames Dr Blanco Rd 2010 1,730 0.07 mi
Thames Dr Munden Dr 2004 792 0.13 mi
Cornwall Dr Blanco Rd 2007 752 0.16 mi
Blanco Rd NE Loop 410 2010 24,140 0.16 mi
Warwich Dr Southbridge Dr 2004 612 0.19 mi
Thames Dr Cornwall Dr 2007 3,127 0.22 mi
Montfort Dr Thames Dr 2000 140 0.24 mi
Blanco Rd 2021 6,621 0.26 mi
Connally Loop Blanco Rd 2020 261,091 0.28 mi

Listing Broker

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