Listed by Secure Net Lease
$3,369,000
PNC Bank w/ Drive Thru ATM
Details
Property Type Retail
Sub Type Bank, Storefront
Square Footage 3,156
Cap Rate 4.75%
NOI $160,000
Occupancy 100%
Tenancy Single
Brand/Tenant Chase Bank, Bank of America
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 04/30/2041
Rent Bumps Yes
Lease Options (3) 5-Year Options to Renew
Year Built 1993
Year Renovated 2026
Acreage 0.620
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 04/29/2026
Ground Lease No
4.75% CAP | Located in the Houston, TX MSA
Marketing description
- Projected Store Opening: August 2026
- Brand New 15-Year Corporate Absolute NNN Ground Lease with 10% Rental Increases Every 5 Years and (3) 5-Year Options to Renew
- Dominant Retail Corridor Along I-69 / US-59 (124,000+ VPD), one of Houston's most heavily trafficked retail corridors and immediate frontage in front of Deerbrook Mall with 130+ shops and 5M annual visitors.
- High-Growth Area in Northeast Houston with over 26M+ SF of active industrial development bringing in a projected 75,000 annual jobs and driving long-term residential growth with 22,000+ newly built homes in the surrounding area.
- Top-Tier Market Rankings & Growth Metrics - Houston ranks among the top U.S. metros for job growth and population growth, with estimated $3B in annual retail sales volume and one of the most active development pipelines in the country.
- $2 Billion National Expansion by PNC Bank - PNC Bank has committed to opening 300+ new branches nationwide by 2030, while targeting high-growth markets like Houston, reinforcing long-term confidence in the region's population and economic expansion.
- Investment Grade Corporate Guarantee by PNC Bank - One of the largest U.S. financial institutions with ~$560B+ in assets and an investment-grade “A” credit rating from S&P proving strong security of income and long-term tenant reliability.
Investment highlights
- Brand New 15-Year, Absolute NNN Ground Lease: Projected Opening August 2026 | 10% Rent Bumps Every 5 Years During Primary Term & Options
- Prime Location Along I-69 / US-59 (124,000 VPD): Directly in front of Deerbrook Mall consisting of 130+ Retail Stores & 5M Annual Visitors
- Humble Trade Area is Rapidly Growing: 26M+ SF Industrial Pipeline | 75,000 Jobs Projected | 22,000+ New Homes Driving Demand
- PNC Bank Announces National Expansion: Projected 300+ New Locations by 2030 with a Strategic Focus on High-Growth Markets Like Houston
- Houston is Ranked as the #2 Most Active Retail Development Market in the U.S
Listing Contacts
Listed by Secure Net Lease
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$160,000.00
$13,333.33/mo
Valuation Metrics
0
DSCR
4.75%
Cap Rate
4.75%
ROI
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