Single-Tenant PNC Bank with McDonald’s Ground
28720 Northwestern Hwy Southfield, MI 48034
28720 Northwestern Hwy, Southfield, MI, 48034
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For Sale
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Pending
Single-tenant PNC Bank on a hard corner with McDonald’s ground lease for drive-through and parking.
Days on Market103
Property Features for 28720 Northwestern Hwy
General Information
- Standard status
- Pending
- Property subtype
- Retail
Listing agency
Marcus & Millichap - Detroit
Listed by
Seth Haron · License #MI 6501373006
Source
Crexi
Added: Apr 11 Updated: Jul 21 at 4:05PM Checked: Jul 21 at 4:05PM
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Investment Insights
Based on property information with market context.
Marcus & Millichap presents a single-tenant PNC Bank property with McDonald’s operating under a ground lease arrangement. The transaction includes two co-located uses: PNC’s bank branch and McDonald’s drive-through, with McDonald’s owning the building and parcel and ground leasing 0.27 acres for the drive-through and additional parking. Public remarks indicate both parties are operating under rare 30-year corporate leases, with approximately 15 years of term remaining and rental increases within the initial lease term.
The bank is located on a hard corner in Southfield, on the border of Farmington Hills, with access from both Northwestern Highway and Franklin Road. Traffic counts are reported to exceed 55,000 vehicles per day, with additional interchange access nearby (Interstate-696, M-10/Lodge Freeway, and US-24/Telegraph Road) bringing an additional 294,000 vehicles to the immediate area.
The asset is described as a strong PNC branch, with deposits at the location exceeding $106 million. Both tenants are noted as having top-tier credit ratings from Standard and Poor’s, with PNC identified as A- and McDonald’s as BBB+.
The bank is located on a hard corner in Southfield, on the border of Farmington Hills, with access from both Northwestern Highway and Franklin Road. Traffic counts are reported to exceed 55,000 vehicles per day, with additional interchange access nearby (Interstate-696, M-10/Lodge Freeway, and US-24/Telegraph Road) bringing an additional 294,000 vehicles to the immediate area.
The asset is described as a strong PNC branch, with deposits at the location exceeding $106 million. Both tenants are noted as having top-tier credit ratings from Standard and Poor’s, with PNC identified as A- and McDonald’s as BBB+.
Key Highlights
- Single‑tenant PNC Bank with McDonald’s ground lease; 30‑year corporate leases with ~15 years remaining for each tenant.
- McDonald’s leases 0.27 acres for drive‑through and additional parking; McDonald’s owns the building and parcel.
- PNC deposits at the location exceed $106 million; strong PNC branch with S&P “A-” credit rating.
Property Analytics
Location Intelligence
Current Use by Public Records
PNC Mortgage
Loan Service
PNC Bank
Bank
PNC ATM
Atm
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FAQs
What type of property is this?
Bank - Single-tenant PNC Bank on a hard corner with McDonald’s ground lease for drive-through and parking.
Where is this bank located?
The property is located at 28720 Northwestern Hwy Southfield, MI.
What are key features of this property?
This property features: Single‑tenant PNC Bank with McDonald’s ground lease; 30‑year corporate leases with ~15 years remaining for each tenant.; McDonald’s leases 0.27 acres for drive‑through and additional parking; McDonald’s owns the building and parcel.; PNC deposits at the location exceed $106 million; strong PNC branch with S&P “A-” credit rating.
