Bank
PNC Bank Ground Lease | 2% Annual Increases | Early Lease Extension
1668 Montclair Rd, Birmingham, AL 35210
Listing Price: $163,200
Cap Rate
6.25%
Tenant Name
PNC Bank
Years Remaining On Lease
8.3
Guarantor
Corporate Guarantee
Rentable SF
3,634
Lease Type
NNN Ground Lease
Rent Per Square Feet
$4.49
Investment Overview
Marcus & Millichap is pleased to present the PNC Bank Ground Lease in Birmingham, AL.
PNC Bank Ground Lease | 2% Annual Increases | Early Lease Extension
Investment Highlights
- 8+ Years Remaining, Tenant Recently Agreed to an Early Lease Extension
- Absolute NNN Ground Lease with No Landlord Responsibilities
- 2% Annual Rental Increases During Base Term and 10% Increases Every 5 Years in Each Option
- Investment Grade Credit Tenant (Rated "A" by S&P), 4th Largest Branch in the U.S. with 2,200+ Locations
- Ranked #139 on the 2024 Fortune 500, $559.7 Billion in Assets
- PNC Acquired BBVA (Headquartered in Birmingham) in 2021 for $11.6 Billion
- Established Bank Branch, PNC Recently Consolidated Branches Nearby
- Serves Over 113,000 Residents in Affluent Trade Area, 6 Miles East of Downtown
Broker of Record
Financing By
Bank
PNC Bank Ground Lease | 2% Annual Increases | Early Lease Extension
Listing Price: $163,200
Cap Rate
6.25%
Tenant Name
PNC Bank
Years Remaining On Lease
8.3
Guarantor
Corporate Guarantee
Rentable SF
3,634
Lease Type
NNN Ground Lease
Rent Per Square Feet
$4.49
Investment Highlights
- 8+ Years Remaining, Tenant Recently Agreed to an Early Lease Extension
- Absolute NNN Ground Lease with No Landlord Responsibilities
- 2% Annual Rental Increases During Base Term and 10% Increases Every 5 Years in Each Option
- Investment Grade Credit Tenant (Rated "A" by S&P), 4th Largest Branch in the U.S. with 2,200+ Locations
- Ranked #139 on the 2024 Fortune 500, $559.7 Billion in Assets
- PNC Acquired BBVA (Headquartered in Birmingham) in 2021 for $11.6 Billion
- Established Bank Branch, PNC Recently Consolidated Branches Nearby
- Serves Over 113,000 Residents in Affluent Trade Area, 6 Miles East of Downtown
Investment Overview
Marcus & Millichap is pleased to present the PNC Bank Ground Lease in Birmingham, AL.
Broker of Record
-
Eddie Greenhalgh
Senior Vice President Investments
Financing By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
