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PNC Bank | Absolute NNN Lease 150 W Chelten Ave 6,250 SF Retail Building Philadelphia, PA 19144 $1,500,000 ($240/SF) 6.65% Cap Rate
Investment Highlights
- Investment Grade Tenant: PNC Bank is one of the largest and most stable financial institutions in the United States.
- Philadelphia MSA: Germantown is a neighborhood in northwest Philadelphia, about 8 miles from city center Philadelphia.
- Long Operating History: Operating as a bank since the 1950's
Executive Summary
Equity CRE is pleased to exclusively offer for sale a single-tenant, multi-story, net-leased PNC Bank branch in the Germantown neighborhood of Philadelphia, PA. PNC Bank is operating in the first year of a 5-year extension, with one (1), 5-year extension option remaining. The building features a ground floor with second-floor space available in the back of the building as well as 9 private, off-street parking spaces in the rear. This is being offered on a fee simple basis and features an absolute NNN lease, with no landlord obligations – providing an investor with passive income.
The lease is backed by a corporate guarantee from PNC Bank, one of the largest and most stable financial institutions in the world, offering investors a top guarantee available on the market. Headquartered in Pittsburgh, PA, the bank operates over 2,200 branches & 60,000 ATMs nationwide and has nearly $560 billion in assets.
The lease is backed by a corporate guarantee from PNC Bank, one of the largest and most stable financial institutions in the world, offering investors a top guarantee available on the market. Headquartered in Pittsburgh, PA, the bank operates over 2,200 branches & 60,000 ATMs nationwide and has nearly $560 billion in assets.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
6,250 SF
Building Class
C
Year Built
1957
Price
$1,500,000
Price Per SF
$240
Cap Rate
6.65%
NOI
$99,739
Tenancy
Single
Building Height
2 Stories
Building FAR
0.46
Lot Size
0.31 AC
Opportunity Zone
Yes
Zoning
CMX-2.5 - Commercial
Parking
9 Spaces (1.44 Spaces per 1,000 SF Leased)
Frontage
9’ on W Chelten Ave
Amenities
- Signage
Moderately walkable
70/100
Very drivable
80/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 882963360 | Improvements Assessment | $1,200,000 |
| Land Assessment | $300,000 | Total Assessment | $1,500,000 |
Property Taxes
Parcel Number
882963360
Land Assessment
$300,000
Improvements Assessment
$1,200,000
Total Assessment
$1,500,000
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