PNC Bank Ground Lease
Single-Tenant Offerings
PNC Bank Ground Lease
1668 Montclair Rd.
Birmingham, AL
- Price:
 - $2,454,000
 - Cap Rate:
 - 6.65%
 - NOI:
 - $163,200
 - Rentable SQFT:
 - 3,634
 - Year Built:
 - 2008
 - Lot Size:
 - 0.62 +/- Acres
 - Lease Type:
 - Absolute NNN Ground Lease
 - Status:
 - Under Contract
 
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
 
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