Single Tenant PNC Property Profile and Cap Rates Date September 12, 2020
Single Tenant PNC – Typical Property and Lease Terms
| Price Range: | $3M - $5.5M |
| Cap Rate: | 4.25% - 4.75% |
| Net Income: | $127,500 - $250,000 |
| Price Per foot: | $925 PSF - $1,300 |
| Building Size: | 3,250 SF - 4,250 SF |
| Lot Size: | 1 Acre |
| Escalations: | 10% Every 5-Years |
| Lease Term: | 25 Years |
| Lease Type: | Ground Lease |
| Credit Rating: | A- |
Tenant Company Information:
PNC Financial Services Group, Inc. (stylized as PNC) is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 21 states and the District of Columbia with 2,459 branches and 9,051 ATMs. The company also provides financial services such as asset management, wealth management, estate planning, loan servicing, and information processing.[1]
PNC is ranked 7th on the list of largest banks in the United States by assets. It is the 5th largest bank by number of branches, 6th largest by deposits, and 4th largest in number of ATMs.[2]
The name “PNC” is derived from the initials of both of the bank’s two predecessor companies: Pittsburgh National Corporation and Provident National Corporation, which merged in 1983.
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