PNC Bank | 6610 Blanco Rd
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PNC Bank 6610 Blanco Rd
2,285 SF Retail Building San Antonio, TX 78216 $2,783,000 ($1,218/SF) 6% Cap Rate
Investment Highlights
- INVESTMENT GRADE, NATIONAL, CREDIT TENANT - CREDIT RATING A (S&P) - PNC FINANCIAL SERVICES (NYSE: PNC) - 6TH LARGEST BANK IN THE U.S.
- FUTURE UPSIDE WITH FMV OPTION AND AS A POTENTIAL REDEVELOPMENT OPPORTUNITY
- LOCATED WITHIN MAJOR RETAIL SYNERGY - NEAR NORTH STAR MALL & INCLUDES DRIVE-THRU BUILDING
- PNC HAS BEEN OPERATING AT THIS LOCATION SINCE 2008 AND EXERCISED THE FIRST OF TWO OPTION PERIODS
- PNC IS ONE OF TWO BRANCHES WITHIN A 3 MILE RADIUS & TENANT IS ON A NNN LEASE
- EXCELLENT SAN ANTONIO TRADE AREA DEMOGRAPHICS AND LOCATION
Executive Summary
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.
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.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
2,285 SF
Building Class
B
Year Built
2008
Price
$2,783,000
Price Per SF
$1,218
Cap Rate
6%
NOI
$166,965
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.77 AC
Zoning
General Commercial
Parking
25 Spaces (8.62 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 13718-000-0220 | Improvements Assessment | $931,990 |
| Land Assessment | $1,178,010 | Total Assessment | $2,110,000 |
PROPERTY TAXES
Parcel Number
13718-000-0220
Land Assessment
$1,178,010
Improvements Assessment
$931,990
Total Assessment
$2,110,000
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PNC Bank | 6610 Blanco Rd
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