6610 Blanco Rd - Bank FOR SALE


San Antonio, TX 78216
$2,783,000 USD
949-221-1835
6610 Blanco Rd, San Antonio, TX for Sale
$2,783,000 USD
Bank - FOR SALE
1/6
null | 6% Cap Rate

6610 Blanco Rd
San Antonio, TX 78216


HIGHLIGHTS

  • INVESTMENT GRADE, NATIONAL, CREDIT TENANT - CREDIT RATING "A" (S&P) - PNC FINANCIAL SERVICES (NYSE: PNC) - 6TH LARGEST BANK IN THE U.S.
  • PNC HAS BEEN OPERATING AT THIS LOCATION SINCE 2008 AND EXERCISED THE FIRST OF TWO OPTION PERIODS
  • FUTURE UPSIDE WITH FMV OPTION AND AS A POTENTIAL REDEVELOPMENT OPPORTUNITY
  • PNC IS ONE OF TWO BRANCHES WITHIN A 3 MILE RADIUS & TENANT IS ON A NNN LEASE
  • LOCATED WITHIN MAJOR RETAIL SYNERGY - NEAR NORTH STAR MALL & INCLUDES DRIVE-THRU BUILDING
  • EXCELLENT SAN ANTONIO TRADE AREA DEMOGRAPHICS AND LOCATION

OVERVIEW

TEXAS BROKER OF RECORD: BRIAN A. KAPLAN: TX License No.: 591047 The investment offering consists of a Single Tenant Net Lease (STNL) for a PNC Bank (S&P Credit Rating: A), strategically located in a high-traffic, Target-anchored shopping center in San Antonio, TX. PNC Bank has operated at this location since 2008 and recently renewed its lease in 2022 for the first of two five-year option periods. This PNC Bank is one of two branches within a 3-mile radius, serving an ideal customer base, which includes 110,000 residents, 85,000 employees, and a daytime population of over 45,000. The lease includes a Fair Market Value (FMV) adjustment option, allowing for potential rental growth and serving as a hedge against inflation. Additionally, the site features a drive-thru building with ATMs, offering convenience for customers and adding intrinsic value for investors. The property is located at a signalized hard corner on Blanco Road, with traffic counts of approximately 33,000 vehicles per day, and is near an on/off ramp of I-410 (250,000 vehicles per day). Its proximity to North Star Mall, anchored by Saks Fifth Avenue, Macy’s, Dillard’s, and JC Penney, drives high foot traffic and retail synergy. The area also includes prominent national retailers such as Target, Best Buy, and Burlington, as well as popular restaurants and fitness centers like Cheesecake Factory, Shake Shack, LA Fitness, and Crunch Fitness.

FOR SALE DETAILS

PRICE

$2,783,000 USD

PRICE/SF

$1,218 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

PNC Bank w/Drive-Thru/ "A" Credit/Target Adj.

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

ADD'L SUBTYPES

Fast Food, Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.77 AC

LAND SF

33,541 SF

ZONING

General Commercial

APN/PARCEL ID

13718-000-0220

ASK ABOUT THIS PROPERTY

Scott DeYoungFaris Lee InvestmentsMore Info
949-221-1835

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Scott DeYoungFaris Lee InvestmentsMore Info
949-221-1835

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.