10649 Main St Fairfax, VA 22030-3801
- Banks
- 3,650 SF
- 1.29 lot acres
Current Use by Public Records
- PNC Mortgage / Mortgage Lender
- PNC Bank / Bank / Atm
Property Details for 10649 Main St
- Year built
- 2010
- Lot size
- 1.29 lot acres
- Property size
- 3,650 SF
- Zone code
- COMMERCIAL RETAIL
- Property type
- Banks
- APN
- 57-1-02-00-117-A
- APU
- 5710200117A
Description
This exceptional investment opportunity presents a freestanding, single-tenant PNC Bank branch located at 10649 Main St, Fairfax, VA 22030. The 3,650 square foot property, built in 2009 on a 1.29-acre lot, boasts a strong 8.52% cap rate and a Net Operating Income (NOI) of $556,600. The asking price is $6,533,000, translating to $1,789.86 per square foot. The property benefits from a ground lease and features a credit-rated, corporate guarantee from PNC Bank, providing significant financial security. The current lease has five years remaining, with three 5-year renewal options, each including a 10% rent increase. Occupancy is currently at 100%. Situated on a high-traffic corner (65,000+ vehicles per day) in an affluent area with an average household income exceeding $210,000 within a five-mile radius, this location benefits from proximity to George Mason University (less than a mile away). The Fairfax submarket is one of the top five wealthiest counties nationally, and this PNC Bank branch, the only one in Fairfax City, has experienced over 39% deposit growth since 2018. This property offers investors a secure, long-term cash flow stream backed by a financially sound institution with over $76.9 million in managed assets. The property presents minimal landlord responsibilities.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fairfax
- County
- Fairfax City
- State
- Virginia
- Longitude
- -77.3134
- Latitude
- 38.848
- CBSA code
- 47900
- CBSA name
- WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA
