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Bank

PNC Bank Ground Lease

4030 S East St, Indianapolis, IN 46227

Listing Price: $2,217,100

Cap Rate
5.25%
Tenant Name
PNC Bank
Years Remaining On Lease
5.9
Gross SF
4,935
Guarantor
Corporate Guarantee
Rentable SF
4,935
Price/Gross SF
$449.26
Lease Type
NNN Ground Lease
Rent Per Square Feet
$23.59

Investment Overview

The Southern Plaza Indianapolis, Indiana PNC Bank branch has experienced tremendous success, as it currently ranks eighth, fifth, and third in State, MSA and City deposits, respectively, and has experienced steady average annual deposit increases over the past several years. PNC Bank is the sixth largest by deposits, and the seventh largest by assets in the United States with a market capitalization of approximately 56.4 billion. The bank has an S&P crediting rating of A and a Moody’s credit rating of A2. With 2,945 branches, 9,051 ATMs in 27 states and the District of Columbia, PNC Bank offers a wide range of services to individuals and small businesses to corporations and government entities. Indianapolis is the 12th largest city in the U.S., and home to 810,000 residents in the city proper, with two million residents in the greater metropolitan area. Nicknamed the “Circle City,” and “Crossroads of America,” Indianapolis has more interstate highways bisecting the city and state than any other in the country, and half the nation’s population is within a days drive of Indianapolis which makes it a center for the transportation of goods.

Investment Highlights

  • Six-Year Absolute Triple-Net (NNN) Corporate Guaranteed Ground Lease
  • Attractive Rent Growth with 15 Percent Rental Increases Every Five Years in Two Renewal Options
  • Excellent Branch Deposits of $193,865,000; Second Highest in Indianapolis and Fourth Highest in State of Indiana
  • Investment Grade Tenant - PNC is the Sixth Largest Bank by Deposits in the U.S., a Market Capitalization of Approximately 56.4 Billion
  • Located Between Downtown Indianapolis and Interstate 465 (Approximately 33,668 Cars per Day)
  • Shadow-Anchored to Kroger Grocery Store and Shares Ingress / Egress to Kroger's Parking Lot and Gas Station
  • Immediate Proximity to National Tenants - Ross, Qdoba, Pizza Hut, AutoZone, AMC, Public Storage, Harbor Freight Tools, and More
  • 212,356 Residents Within a Five-Mile Radius with an Average Household Income of $62,828

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Financing By

Bank

PNC Bank Ground Lease

Listing Price: $2,217,100

Cap Rate
5.25%
Tenant Name
PNC Bank
Years Remaining On Lease
5.9
Gross SF
4,935
Guarantor
Corporate Guarantee
Rentable SF
4,935
Price/Gross SF
$449.26
Lease Type
NNN Ground Lease
Rent Per Square Feet
$23.59

Investment Highlights

  • Six-Year Absolute Triple-Net (NNN) Corporate Guaranteed Ground Lease
  • Attractive Rent Growth with 15 Percent Rental Increases Every Five Years in Two Renewal Options
  • Excellent Branch Deposits of $193,865,000; Second Highest in Indianapolis and Fourth Highest in State of Indiana
  • Investment Grade Tenant - PNC is the Sixth Largest Bank by Deposits in the U.S., a Market Capitalization of Approximately 56.4 Billion
  • Located Between Downtown Indianapolis and Interstate 465 (Approximately 33,668 Cars per Day)
  • Shadow-Anchored to Kroger Grocery Store and Shares Ingress / Egress to Kroger's Parking Lot and Gas Station
  • Immediate Proximity to National Tenants - Ross, Qdoba, Pizza Hut, AutoZone, AMC, Public Storage, Harbor Freight Tools, and More
  • 212,356 Residents Within a Five-Mile Radius with an Average Household Income of $62,828

Investment Overview

The Southern Plaza Indianapolis, Indiana PNC Bank branch has experienced tremendous success, as it currently ranks eighth, fifth, and third in State, MSA and City deposits, respectively, and has experienced steady average annual deposit increases over the past several years. PNC Bank is the sixth largest by deposits, and the seventh largest by assets in the United States with a market capitalization of approximately 56.4 billion. The bank has an S&P crediting rating of A and a Moody’s credit rating of A2. With 2,945 branches, 9,051 ATMs in 27 states and the District of Columbia, PNC Bank offers a wide range of services to individuals and small businesses to corporations and government entities. Indianapolis is the 12th largest city in the U.S., and home to 810,000 residents in the city proper, with two million residents in the greater metropolitan area. Nicknamed the “Circle City,” and “Crossroads of America,” Indianapolis has more interstate highways bisecting the city and state than any other in the country, and half the nation’s population is within a days drive of Indianapolis which makes it a center for the transportation of goods.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

Financing By

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