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PNC Bank Ground Lease – Relocation Store, Decatur, GA

PNC Bank Ground Lease – Relocation Store

Decatur, Georgia 30033

Price $4,875,000
Cap Rate 4.00%
NOI $195,000
Lease Term 20 Years
Lease Type NNN Ground Lease, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof and Structure
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2020
Building Size 2,875 SF
Lot Size .59 Acres (26,047 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 20-YEAR ABSOLUTE NNN GROUND LEASE TO INVESTMENT GRADE TENANT
» 20-year absolute NNN ground lease with four (4) five-year option periods
» PNC National Bank (NYSE: “PNC”) is rated “A” by S&P
» 10% rental increases every five years, providing a hedge against inflation
» Absolute NNN ground lease provides an ideal passive investment for an out-of-area investor
» Property is a relocation branch, demonstrating established success and customer base in the area

SIGNALIZED HARD-CORNER LOCATION IN A DENSELY POPULATED AND AFFLUENT ATLANTA MARKET
» Combined 47,120 AADT at the signalized four-way intersection of North Decatur Road and Church Street
» 332,681 residents within a five-mile radius of the property
» Beneficial proximity to Interstate 285 (200,000 AADT) and Scott Boulevard (75,100 AADT), increasing traffic to the location
» Supported by an affluent customer base, with an average annual household income of $117,566 within a three-mile radius of the site
» Projected 12 percent AAHI increase within a five-mile radius of the site in the next five years, poising Decatur and PNC Bank for significant concurrent growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Across the street from Emory Decatur Hospital (451 beds, 2,898 employees)
» Within five miles of 12 major shopping centers featuring 4.6 million SF of retail space and 654 stores, promoting crossover shopping to the location
» Surrounded by several well-established national retailers, including Whole Foods, Walmart Supercenter, Sprouts Farmers Market, HomeGoods, Publix, Kroger, McDonald’s, and many more
» 2.5 miles from Emory University (14,769 students)
» Seven miles from Downtown Atlanta, the ninth-largest metropolitan area in the U.S.



Property Description

The property has a signalized hard-corner location at the four-way intersection of North Decatur Road and Church Street, with visibility and access to 47,120 vehicles per day in front of the site. The property also benefits from its proximity to Interstate 285 (200,000 AADT) and Scott Boulevard (75,100 AADT), significantly increasing traffic to the site. The location resides in a densely populated area, with 332,681 residents living within a five-mile radius of the property, giving PNC Bank a large customer base. The location is also supported by affluent demographics, with an average annual household income of $117,566 within a three-mile radius of the site. The location is primed to grow along with the surrounding area, with a projected 12 percent average annual household income increase within five miles of the site in the next five years.

Traffic to the site is increased by its proximity across the street from one of Decatur’s largest employers, Emory Decatur Hospital (451 beds, 2,898 employees). The property maintains high visibility with its location within five miles of 12 major shopping centers featuring 4.6 million SF of retail space and 654 stores. The site is surrounded by several well-established local and national retailers, including Whole Foods, Walmart Supercenter, Sprouts Farmers Market, HomeGoods, Publix, Kroger, McDonald’s, and many more. The location also resides within three miles of Emory University (14,769 students). The site serves as a common gateway to Downtown Atlanta seven miles away, the ninth-largest metropolitan area in the U.S.

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