38 N Lansdowne Ave
Lansdowne, PA 19050
PNC Bank · Retail Property For Sale

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this PNC Bank property located on Lansdowne Avenue in Lansdowne, Pennsylvania. PNC has been continuously operating at this site since 1988 (32yrs), exercising lease extensions on three occasions, illustrating their commitment and success at this location. PNC Bank has over $56M in deposits at this location which is the 2nd highest of all the banks within the zip code. This is a NNN lease which eliminates landlord responsibilities and expenses, making this property easy to own from anywhere. There currently 4 years remaining in the initial lease term and one, five year option period to renew. PNC’s lease also offers 10% rental increases every five years including the last remaining five-year option period. Unlike most bank branch properties the Subject Property is a build-to-suit which offers the owner deprecation and tax shelter not realized with a ground lease. The lease is corporately guaranteed by PNC Bank, an investment grade credit tenant rated "A" by Standard & Poor's. This 3,800 square foot PNC Bank is situated on 0.49 acres with excellent access and visibility. It ideally fronts and has direct access to Lansdowne Avenue with traffic counts exceeding 14,000 vehicles per day. This is an easily walkable location situated in the heart of Lansdowne and surrounded by numerous local businesses and retailers. Nearby uses include McDonald’s, Wawa, Aldi, Walgreens, Dollar Tree, Dunkin’ and Papa Johns to name a few. Lansdowne, PA, 6 miles from downtown Philadelphia, is a densely populated market with 30,083 people within 1 mile, 337,110 people within 3 miles and 641,924 people within 5 miles. PNC has its own dedicated parking lot but is also directly adjacent to a large municipal parking lot with over 50 spaces, a desirable amenity in any dense location like Lansdowne.