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Bank

PNC Bank (Dark)

5740 W Bell Rd, Glendale, AZ 85308

Listing Price: $3,328,000

Cap Rate
7.00%
Tenant Name
PNC Bank
Years Remaining On Lease
0.9
Gross SF
3,466
Guarantor
Corporate Guarantee
Rentable SF
3,466
Price/Gross SF
$960.18
Lease Type
Ground Lease
Rent Per Square Feet
$67.20

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a PNC ground lease in Glendale, Arizona. The property consists of a 3,466-square-foot, freestanding building that sits on approximately 1 acre of land. There is less than one year remaining on the current lease term. Although PNC Bank is vacating the premise at the end of the lease term, they are still obligated for approximately $213,514 in future rent obligations. At the asking price, an investor should be able to lower their basis in the property, recapturing a percentage of their initial investment over the remaining lease term. The property has excellent access and visibility on W Bell Road (39,229 VPD)—a major retail corridor. The area is extremely dense with more than 351,443 residents within a five-mile radius.

Investment Highlights

  • Tenant is Responsible for Approximately $213,514 in Future Rent Obligations
  • Ground Lease with Less than One Year Remaining
  • Excellent Visibility and Access on West Bell Road (39,229 VPD)
  • Outparcel to WinCo Foods Anchored-Shopping Center in a Major Retail Corridor
  • More than 351,443 Residents Within a Five-Mile Radius
  • Large 1 Acre Parcel with Ample Parking and Multiple Access Points

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s) AZ: BR675146000

    Arizona

Bank

PNC Bank (Dark)

Listing Price: $3,328,000

Cap Rate
7.00%
Tenant Name
PNC Bank
Years Remaining On Lease
0.9
Gross SF
3,466
Guarantor
Corporate Guarantee
Rentable SF
3,466
Price/Gross SF
$960.18
Lease Type
Ground Lease
Rent Per Square Feet
$67.20

Investment Highlights

  • Tenant is Responsible for Approximately $213,514 in Future Rent Obligations
  • Ground Lease with Less than One Year Remaining
  • Excellent Visibility and Access on West Bell Road (39,229 VPD)
  • Outparcel to WinCo Foods Anchored-Shopping Center in a Major Retail Corridor
  • More than 351,443 Residents Within a Five-Mile Radius
  • Large 1 Acre Parcel with Ample Parking and Multiple Access Points

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a PNC ground lease in Glendale, Arizona. The property consists of a 3,466-square-foot, freestanding building that sits on approximately 1 acre of land. There is less than one year remaining on the current lease term. Although PNC Bank is vacating the premise at the end of the lease term, they are still obligated for approximately $213,514 in future rent obligations. At the asking price, an investor should be able to lower their basis in the property, recapturing a percentage of their initial investment over the remaining lease term. The property has excellent access and visibility on W Bell Road (39,229 VPD)—a major retail corridor. The area is extremely dense with more than 351,443 residents within a five-mile radius.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s): AZ: BR675146000

    Arizona

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