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PNC Bank 12601 Lake June Rd 2,390 SF Retail Building Balch Springs, TX 75180 $2,500,000 ($1,046.03/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
$2,500,000
Price Per SF
$1,046.03
Cap Rate
6%
NOI
$150,000
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 | $2,357,280 |
| Land Assessment | $292,720 | Total Assessment | $2,650,000 |
Property Taxes
Parcel Number
12046800000010000
Land Assessment
$292,720
Improvements Assessment
$2,357,280
Total Assessment
$2,650,000
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PNC Bank | 12601 Lake June Rd
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