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PNC Bank Ground Lease 1668 Montclair Rd 3,634 SF Retail Building Irondale, AL 35210 $3,425,588 CAD ($942.65 CAD/SF) 6.65% Cap Rate
INVESTMENT HIGHLIGHTS
- 8+ Years Remaining, Tenant Recently Agreed to an Early Lease Extension
- 2% Annual Rental Increases During Base Term and 10% Increases Every 5 Years in Each Option
- Ranked #139 on the 2024 Fortune 500, $559.7 Billion in Assets
- Absolute NNN Ground Lease with No Landlord Responsibilities
- Investment Grade Credit Tenant (Rated “A“ by S&P), 4th Largest Branch in the U.S. with 2,200+ Locations
- PNC Acquired BBVA (Headquartered in Birmingham) in 2021 for $11.6 Billion
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,634 SF
Building Class
B
Year Built
2007
Price
$3,425,588 CAD
Price Per SF
$942.65 CAD
Cap Rate
6.65%
NOI
$227,814 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.64 AC
Zoning
CB2 - Commercial
Parking
28 Spaces (7.7 Spaces per 1,000 SF Leased)
Frontage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 23-00-26-2-000-028.001 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $363,389 CAD |
PROPERTY TAXES
Parcel Number
23-00-26-2-000-028.001
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$363,389 CAD
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PNC Bank Ground Lease | 1668 Montclair Rd
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