Listed by Atlantic Capital Partners
$3,485,000
PNC Bank | Indian Land, SC
Details
Property Type Retail
Sub Type Bank
Square Footage 3,000
Net Rentable (SqFt) 3,000
Cap Rate 4.85%
NOI $169,000
Occupancy 100%
Tenancy Single
Brand/Tenant Bank of America, Wells Fargo Bank
Lease Type Absolute NNN
Lease Term 20.1
Lease Expiration 01/31/2047
Remaining Term 20.5
Rent Bumps Yes
Lease Options 4 x 5-year options
Class A
Year Built 2026
Acreage 1.130
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 01/01/2027
Ground Lease Yes
4.85% CAP | 20Y CORPORATE GROUND LEASE
Investment highlights
COSTCO-ANCHORED MIXED-USE DEVELOPMENT
- Located within The Exchange at Indian Land, a 130-acre mixed-use development anchored by Costco and Lowes Foods with 400+ apartments and 320 townhomes planned.
FAST-GROWING CHARLOTTE SUBMARKET
- Located in Lancaster County, the Charlotte region's fastest-growing county, with frontage along Charlotte Highway (US-521), the primary corridor connecting Indian Land and Ballantyne.
AFFLUENT TRADE AREA
- Exceptional demographics with average household incomes of $167,000 within three miles and $188,000 within five miles, supporting long-term retail demand.
BRAND-NEW 20-YEAR CORPORATE LEASE | 2% ANNUAL RENT ESCALATIONS
- PNC Bank has executed a brand-new 20-year ground lease on a newly constructed 2026 branch, with 2% annual rent escalations throughout the term.
INVESTMENT-GRADE CREDIT: S&P A-RATED WITH $573 BILLION IN ASSETS
- PNC Bank is one of the 10 largest U.S. banks with $573.6 billion in assets, ratings of A (S&P) and AA (low) (Morningstar DBRS), 2,224 branches, and $440.9 billion in deposits, providing exceptional institutional credit.
ABSOLUTE NNN GROUND LEASE
- The investor acquires the land outright under an absolute NNN ground lease with zero landlord responsibilities, delivering fully passive, management-free ownership with no maintenance or capital obligations.
Listing Contacts
Listed by Atlantic Capital Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$169,000.00
$14,083.33/mo
Valuation Metrics
0
DSCR
4.85%
Cap Rate
4.85%
ROI
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