PNC - Calabash, NC

10267 Beach Dr SW
Calabash, NC 28467

Marketing Materials


JLL is pleased to offer for sale the fee-simple interest in a single-tenant, free standing PNC (the “Property” or “Asset”) located in in Calabash, North Carolina. The Property is subject to an absolute triple net (“NNN”) lease to PNC Bank (the “Tenant”), with approximately 6.2 years of term remaining. The Property is located in the Myrtle Beach MSA, one of the fastest growing markets in the United States which added 3.5% more residents during 2016. Additionally, this store is strategically positioned in a residential neighborhood across from the Carolina Shores Golf & Country Club. This offering represents an outstanding opportunity to acquire a valuable property leased one of the most desirable bank tenants in the net lease investment community.
  • Primary Broker

    Peter Furest - Net Lease Broker
    Peter Furest
    (212) 812-5802

  • Secondary Broker(s)

    Lee B. Allen - Net Lease Broker
    Lee B. Allen
    843 323 4201

  • In-State Licensee

    Chase Monroe, CCIM, SIOR - Net Lease Broker
    Chase Monroe, CCIM, SIOR


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Investment Highlights
• Strong investment grade tenancy (S&P: A-)
• Only PNC Bank location within a 25-mile radius
• Strategic regional location along the border of North Carolina and South Carolina
• Priced below replacement cost
• Desirable absolute NNN structure with zero landlord responsibilities
• PNC recently exercised option – over 6 years of term remaining
Property Type Retail
Property Address 10267 Beach Dr SW
Calabash, NC 28467
Land In Acres 0.97
Building Size 4,000 Square Feet
Primary Use Bank
Year Built 1984
Tenancy Single-Tenant
Price $1,340,000
Price PSF $335.00
Cap Rate 6.15%
Current NOI $82,500
Tenant Name PNC Bank
Credit Rating (S&P) A-
Lease Type NNN
Annual Rent $82,500
Rent PSF $20.63
Options 1 5-year option
Lease Expiration Date 12/31/2023
Remaining Term 5.8Yrs