Listed by NorthMarq, Northmarq
$3,630,000
PNC Bank (Ground Lease)
Details
APN 1178240020002
Property Type Retail
Sub Type Bank
Square Footage 4,554
Net Rentable (SqFt) 4,554
Cap Rate 5.5%
NOI $199,650
Occupancy 100%
Tenancy Single
Brand/Tenant PNC Bank
Lease Type Absolute NNN
Lease Term 30
Lease Expiration 03/31/2038
Remaining Term 11.8
Rent Bumps Yes
Lease Options One 10-Year Option
Price per SqFt $797
Broker Co-Op Yes
Year Built 2008
Buildings 1
Stories 1
Acreage 1.300
Zoning C
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 04/01/2008
Occupancy Date 04/01/2008
Ground Lease Yes
Ownership Ground Lease
PNC Bank | Absolute NNN Ground Lease | 5.50% CAP | Houston, TX MSA
Marketing description
Long-Term Absolute NNN Lease | 12+ Years Remaining
Investment Grade Tenant | S&P A- Rating
Commitment to Location
Outsized Lease Escalations
Strong Demographics Trends
Strategic Positioning on Popular Corridor | 34K+ VPD
Listing Contacts
Listed by NorthMarq, Northmarq
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$199,650.00
$16,637.50/mo
Valuation Metrics
0
DSCR
5.5%
Cap Rate
5.5%
ROI
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