Pnc

4030 S East St, Indianapolis, IN

$1,703,367

Price

6.25%

Cap Rate

$106,461

NOI

Overview
Cap Rate
6.25%
NOI
$106,461
Building Size
4,935 sqft
Lot Area
1.66 acres
Occupancy
100%
Year Built
2003
Description

This is an opportunity to purchase a 4,935SF freestanding PNC Bank ground lease with 4 outside drive thru's on an over sized lot of 1.66 ac.. PNC's strong investment grade credit rating with S&P of (A-) and operating in 19 States with 2500 branches make it a very attractive asset to passive investors in the NNN investment market. The subject property is strategically located on an out parcel of a very busy Kroger Supermarket that includes a fueling station and next to a Steak N Shake on a main north to south thoroughfare with high visibility and excellent sign exposure to over 23,000 cars passing daily. A large U Haul Moving & Storage facility and a pre-owned auto facility sit directly across the street and on the south side of the Kroger Supermarket is a Marshall's and a Ross anchored retail shopping center. Other National Retailers in the immediate vicinity include Midas, Dunkin Donuts, Pizza Hut, Fed Ex Print N Ship, BP, Speedway, Harbor Freight, AMC Movie theater, Public Storage, Autozone, KFC and Walgreens. Located only a half mile away is the University of Indianapolis with more than 5400 students attending and only 12 miles from Indianapolis International Airport.
Interstate 465 encircles Indianapolis and this subject property benefits from an excellent location off a major interstate and S East Street is a main artery that leads to the business district of Indianapolis, placing the property in the middle of one of the city's most sought-after locations. PNC bank is less than a mile North of the South side of Interstate 465 which is approx. 5 mi South of the Indianapolis business district.






Indianapolis is the capital and most populous city of the state of Indiana. Traffic counts in front of the subject property are approximately 23,000 vehicles per day. The property benefits from an excellent location off a major interstate and S East Street is a main artery that leads to the business district of Indianapolis, placing the property in the middle of one of the city's most sought-after locations. The property is only 5 miles south of Indianapolis's business district a large U Haul Moving & Storage facility and a pre-owned auto facility sit directly across. Situated in an out parcel of a large Kroger Supermarket with a Marshall's and a Ross anchored retail shopping center just on the south side of Kroger. Other National Retailers in the immediate vicinity include Midas, Dunkin Donuts, Pizza Hut, Fed Ex Print N Ship, BP, Speedway, Harbor Freight, AMC Movie Theater, Public Storage, Autozone, KFC and Walgreens. Located only a half mile away is the University of Indianapolis with more than 5400 students attending and only 12 miles from Indianapolis International Airport.

Highlights
  • Ground Lease
  • No landlord responsibilities or expenses
  • Below Market Rent
  • 2/ 5 year options w/ 13% increase
  • Strong corporate guarantee
  • PNC is the fifthy largest bank by deposits in the United States.
  • Established Location
  • The subject property benefits from an excellent location off a major interstate
  • Densely Populated with over 70,000 Residents Within Three Miles
Documents

Location