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PNC Bank | 20-YR Fee Simple Abs Net 2675 W Sr 434 3,176 SF Retail Building Longwood, FL 32779 $5,012,055 CAD ($1,578.10 CAD/SF) 4.50% Cap Rate
Investment Highlights
- Rare 20-year initial term with an average CAP of 5.22%
- 1.52 AC signalized corner with over 53,000 VPD located between two Publix anchored shopping centers less than 1 mile apart
- Fixed 10% increases provide hedge against inflation and an average return of 5.22% over the base term of the lease
- PNC Bank, NA is rated A- by S&P and operates +/- 2,200 branches across 27 states
- Absolute Net Ground Lease provides completely passive ownership and stable cash-flow for absentee owner
- Fee simple ownership allows for depreciation of the building boosting after tax returns
Executive Summary
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of this new 20-year PNC Bank ground lease in Longwood, FL. PNC bank is renovating the building and plans to open for business in July.
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
3,176 SF
Year Built
1986
Price
$5,012,055 CAD
Price Per SF
$1,578.10 CAD
Cap Rate
4.50%
NOI
$225,522 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.52 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- PNC Bank
- -
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| PNC Bank | - | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 04-21-29-300-003F-0000 | Improvements Assessment | $360,611 CAD |
| Land Assessment | $893,945 CAD | Total Assessment | $1,254,557 CAD |
Property Taxes
Parcel Number
04-21-29-300-003F-0000
Land Assessment
$893,945 CAD
Improvements Assessment
$360,611 CAD
Total Assessment
$1,254,557 CAD
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PNC Bank | 20-YR Fee Simple Abs Net | 2675 W Sr 434
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