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PNC Bank 2561 N University Dr 4,212 SF Retail Building Coral Springs, FL 33065 $5,267,000 ($1,250.47/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- POSITIONED IN CENTRAL BUSINESS DISTRICT
- STRONG DEMOGRAPHICS
- ATTRACTIVE LEASE FUNDAMENTALS
EXECUTIVE SUMMARY
- 12% rent increase every 5 years and during option periods
- Absolute NNN Ground lease providing no Landlord Responsibilities
- four (4) - Five (5) year option periods
INVESTMENT GRADE TENANT
- Corporate Guaranty from Investment Grade Tenant - PNC Financial Services Group Inc has a Market Cap of $77.3B (NASDAQ: PNC) with over 2,600 locations across the country
- S&P rating of A
LOCATED IN HIGH GROWTH RETAIL NODE
- Over 1.4M SF of Retail Space located in a 1-mile radius, boasting a vacancy rate of under 6%
- Nearby National Retail Tenants include: Publix Supermarket, Michaels, Pet Supermarket, Total Wine, and more
- Nearby shopping centers include: The Royal University Plaza, University Palms Square, Coral Palm Plaza, The Walk at University, and more
POSITIONED IN CENTRAL BUSINESS DISTRICT
- This site is located in the Central Business District of Coral Springs, FL which has seen an influx of recent development
- This area includes: “The Walk” - a shopping and entertainment center with all types of retail
- “Cornerstone Downtown” - a mixed use Office Space, Residential Space, retail space
- “City Village” - plans for a grocer, restaurants, entertainment, and other retail
STRONG DEMOGRAPHICS
- Within a 5-mile radius of the site are more than 365K people and over 54K households
- The AHHI within a 3-mile radius of the PNC Bank is over $114k providing a dense customer base for the bank branch
LARGE DEPOSIT BRANCH - FILLING A VOID
- This Location has over $77M dollars in deposits showing the local demand
- This PNC Bank is the only location in Coral Springs, FL which fills a void for the PNC company
PROPERTY FACTS
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Finance and Insurance
- 4,212 SF
- -
- Triple Net
- -
PNC offers a wide range of services for all their customers, from individuals and small businesses, to corporations and government entities. No matter how simple or complicated a person's needs, they are sure to have the products, knowledge and resources necessary for financial success. The PNC Retail Bank supports the financial needs of millions of individuals, families and small businesses, and fosters lifelong banking relationships built on expert advice and financial solutions across deposits, payments, personal lending, credit card, wealth advisory and brokerage. Through their coast-to-coast branch network, which includes approximately many branches, many PNC and partner ATMs, thousands of highly skilled and knowledgeable bankers, and telephonic, online, and mobile banking channels, they empower their clients with the solutions they need to move forward financially.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Finance and Insurance | 4,212 SF | - | Triple Net | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 48-41-21-02-1870 | Improvements Assessment | $1,595,850 |
| Land Assessment | $1,437,220 | Total Assessment | $3,033,070 |
PROPERTY TAXES
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PNC Bank | 2561 N University Dr
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