PNC Bank
Overview
PNC Bank is a retail bank offering a variety of services. PNC currently has over 2,500 branches and over 9,000 ATM machines across the country. Many of the PNC branches are sold as ground leases to NNN investors. The average lease term is 15-20 years with rent escalations of 10% every 5 years. These rental escalations make PNC a highly sought after investment property.
Lowest Cap Rate
4.25%
Average Cap Rate
6.44%
Property & Lease
Average Sale Price
$2,000,000 – $4,000,000
Average NOI
$100,000 – $250,000
Building SF
3,000
Lease Term
15 – 20 Years
Escalations
10% Every 5 Years
Stock Symbol
NYSE:PNC
Credit Rating
S&P
A
Moody’s
A2