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PNC Bank | 20-YR Fee Simple Abs Net 2675 W Sr 434 3,295 SF Retail Building Longwood, FL 32779 $3,667,000 ($1,112.90/SF) 4.50% Cap Rate
Investment Highlights
- Rare 20-year initial term with an average CAP of 5.22%
- 1.52 AC signalized corner with over 53,000 VPD located between two Publix anchored shopping centers less than 1 mile apart
- Fixed 10% increases provide hedge against inflation and an average return of 5.22% over the base term of the lease
- PNC Bank, NA is rated A- by S&P and operates +/- 2,200 branches across 27 states
- Absolute Net Ground Lease provides completely passive ownership and stable cash-flow for absentee owner
- Fee simple ownership allows for depreciation of the building boosting after tax returns
Executive Summary
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of this new 20-year PNC Bank ground lease in Longwood, FL. PNC bank is renovating the building and plans to open for business in July.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,295 SF
Building Class
C
Year Built
1986
Price
$3,667,000
Price Per SF
$1,112.90
Cap Rate
4.50%
NOI
$165,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.50 AC
Zoning
OP
Parking
15 Spaces
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- PNC Bank
- -
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| PNC Bank | - | - | - | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 04-21-29-300-003F-0000 | Improvements Assessment | $264,281 |
| Land Assessment | $655,145 | Total Assessment | $919,426 |
Property Taxes
Parcel Number
04-21-29-300-003F-0000
Land Assessment
$655,145
Improvements Assessment
$264,281
Total Assessment
$919,426
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PNC Bank | 20-YR Fee Simple Abs Net | 2675 W Sr 434
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