PNC Bank Ground Lease
Single-Tenant Offerings
PNC Bank Ground Lease
1668 Montclair Rd.
Birmingham, AL
- Price:
- $2,611,000
- Cap Rate:
- 6.25%
- NOI:
- $163,200
- Rentable SQFT:
- 3,634
- Year Built:
- 2008
- Lot Size:
- 0.62 +/- Acres
- Lease Type:
- Absolute NNN Ground Lease
- Status:
- Available
Investment Highlights
- 8+ Years Remaining, Tenant Recently Agreed to an Early Lease Extension
- Absolute NNN Ground Lease with No Landlord Responsibilities
- 2% Annual Rental Increases During Base Term and 10% Increases Every 5 Years in Each Option
- Investment Grade Credit Tenant (Rated “A“ by S&P), 4th Largest Branch in the U.S. with 2,200+ Locations
- Ranked #139 on the 2024 Fortune 500, $559.7 Billion in Assets
- PNC Acquired BBVA (Headquartered in Birmingham) in 2021 for $11.6 Billion
- Established Bank Branch, PNC Recently Consolidated Branches Nearby
- Serves Over 113,000 Residents in Affluent Trade Area, 6 Miles East of Downtown
- Average Household Income Exceeds $93,000 in 1 Mile and $108,000 in 3 Miles
- Outparcel to Power Center Anchored by a High-Volume Walmart Supercenter, Ross, Five Below, Michaels, and Office Depot
- Across from Brand New State-of-the-Art $60 Million Amazon Distribution Center
- Walking Distance to New $76 Million Birmingham East VA Medical Center Serving 25,000+ Veterans
- Down the Street from $200 Million Crestline Heights Redevelopment with 277 Luxury Condos, a New Corporate Campus, Medical Office, and Retail
- Hard Corner Location at Signalized Intersection, Just Off I-20 with 59,400+ Cars/Day
- Strong Daytime Population, More Than 108,000 Employees in Primary Trade Area
- Minutes to the University of Alabama at Birmingham with 21,160 Students
Registration/Client Login
Lost Password?Not Registered?
In order to view the Marketing Package and join our distribution list, please complete the fields below.