Murfreesboro, TN - PNC Bank

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, PNC Bank investment property located in Murfreesboro, Tennessee. The tenant, PNC Bank, recently signed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The PNC Bank is located near the signalized, hard corner intersection of S Church St and Caroline Drive, which combine to average over 50,500 vehicles passing by daily. S Church St is a major retail and commuter thoroughfare serving the city of Murfreesboro. The property is approximately 1 mile from Interstate 24, which averages over 105,700 vehicles passing daily. The asset is located in close proximity to Innsbrooke Towne Square, a Kroger anchored center with other national/credit tenants including Starbucks, Take 5 Oil Change, Fifth Third Bank, and Sun Tan City. The property is located in the center of a primary retail corridor with other national/credit tenants including a Walmart Supercenter, ALDI, Planet Fitness, McDonald’s, Taco Bell, Jersey Mike’s, Panera Bread, Dunkin’, and more, further increasing consumer traffic to the site. The immediate trade area is supported by a population of over 119,700 residents and 54,400 employees with an average household income of $101,870 within 3 miles.

---

Report Listing This listing was syndicated through:

Listing ID: a28TP000002YckrYAC