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PNC Bank 12601 Lake June Rd 2,390 SF Retail Building Balch Springs, TX 75180 $3,392,500 CAD ($1,419.46 CAD/SF) 6% Cap Rate
Investment Highlights
- The building was previously a Carl’s Jr. that has been updated to PNC’s standards.
- More than 55,000 residents earning an average household income of $76,000 are located within 2 miles of the site.
- The property is ideally positioned at the intersection of I-635 (165,000 VPD) and Lake June Rd. (12,500 VPD)
- he intersection is anchored by Walmart and Amazon DC and include other national retailers like Wendy’s, Chase Bank, Raising Canes, Whataburger
Executive Summary
New Long Term Lease: PNC recently signed a new 15 year lease with 10% rent bumps every 5 years providing passive ownership.
Investment Grade Tenant: PNC (NYSE:PNC) is a leading financial services provider in the country with over 2,500 locations and an S&P credit rating of A.
Investment Grade Tenant: PNC (NYSE:PNC) is a leading financial services provider in the country with over 2,500 locations and an S&P credit rating of A.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Bank
Building Size
2,390 SF
Building Class
C
Year Built
2011
Price
$3,392,500 CAD
Price Per SF
$1,419.46 CAD
Cap Rate
6%
NOI
$203,550 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.72 AC
Zoning
Z35
Parking
35 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Pylon Sign
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 12046800000010000 | Improvements Assessment | $3,225,466 CAD |
| Land Assessment | $400,529 CAD | Total Assessment | $3,625,995 CAD |
Property Taxes
Parcel Number
12046800000010000
Land Assessment
$400,529 CAD
Improvements Assessment
$3,225,466 CAD
Total Assessment
$3,625,995 CAD
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PNC Bank | 12601 Lake June Rd
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