Looking to buy a PNC Bank NNN property? 20 are observed for sale across 9 states, median asking cap rate 5.08%. View PNC Bank NNN properties for sale, cap rate bands and the 1031 buyer guide.
| Rated Entity | PNC Bank, N.A.: S&P long-term issuer rating, Moody’s senior debt rating. Confirm the tenant named in each lease. |
| S&P Rating | A (Stable) |
| Moody’s Rating | A2 (Stable) |
| IG Status | Investment Grade |
| US Locations | 2,304 branches (June 30, 2026, Form 10-Q) |
| Annual Revenue | $23.1B total revenue (2025, Form 10-K) |
| Median asking cap rate | See the live table below |
| Typical Lease Term | Varies; confirm in the lease |
| Property Size | Varies by site |
| Lot Size | Varies by site |
Business Overview
PNC Financial Services Group is a major diversified financial services company serving customers across the United States and internationally. The company had 2,304 branches as of June 30, 2026 (Form 10-Q) and total revenue of $23.1 billion in 2025 (Form 10-K). PNC provides retail banking, corporate and institutional banking, asset management, and other financial services.
PNC Bank, N.A. is rated investment grade and is subject to federal bank regulation. These are factors to assess alongside the actual lease, the property and your own objectives; they are not an endorsement by any regulator or a guarantee of lease quality.
For investors evaluating NNN properties, understanding tenant creditworthiness and operational performance is essential. Our comprehensive NNN investing guide covers lease structures, tenant evaluation, and portfolio construction strategies for maximizing risk-adjusted returns.
Credit Rating
PNC Bank, N.A. ratings (S&P long-term issuer; Moody’s senior debt):
Source: S&P Global Ratings A, Stable, as of October 1, 2026; Moody’s A2, Stable, as of October 1, 2026; Fitch Ratings A+, Stable, as of October 1, 2026. Ratings checked October 8, 2026.
- S&P Rating: A (Stable)
- Moody’s Rating: A2 (Stable)
- Assessment: Investment-grade bank credit; confirm mandate eligibility and the lease obligor
The A/A2 ratings shown are PNC Bank, N.A.’s S&P long-term issuer rating and Moody’s senior debt rating (PNC investor relations, updated October 1, 2026; Form 10-Q, June 30, 2026, Table 29). The holding company, The PNC Financial Services Group, Inc., has its own senior debt ratings, which are lower than the bank’s at S&P, Moody’s and Fitch. Confirm which entity signs or guarantees each lease; a brand name does not establish the lease party.
Financial Performance & Operational Metrics
PNC’s 2025 revenue and branch count, shown above, indicate scale, and its retail branch network is located coast-to-coast (Form 10-K for 2025). Scale alone does not establish the quality of a particular branch lease.
For IG bank tenants like PNC, understanding regulatory capital ratios, asset quality, deposit stability, and management quality supports credit assessment. Investors should review regulatory filings, quarterly earnings reports, and management commentary as part of due diligence. Our investment grade guide outlines key metrics for assessing tenant credit quality.
NNN Property Details & Economics
PNC NNN property details vary by site; confirm them for each property. The building size below is a live statistic from the active net lease listings InvestmentGrade.com tracks for PNC Bank branches, excluding listings under contract, closed or on hold, fractional interests and listings that do not name PNC as the tenant:
- Property Size: varies; a median building size of 3,417 SF on the listings that state it
- Lot Size: varies by site; confirm from the survey
- Lease Term: varies; confirm the initial term and renewal options in the lease
Rent escalations and renewal options vary by lease; confirm them when evaluating PNC properties.
Lease Structure & Tenant Obligations
A triple-net (NNN) lease generally allocates operating expenses, property taxes, and insurance to the tenant, but maintenance and repair duties vary by lease, and some PNC sites are ground leases. Investors should review specific lease agreements to understand:
- Rent escalation clauses and frequency
- Property maintenance and repair obligations
- Property tax payment responsibility
- Insurance coverage requirements
- Lease renewal options and terms
- Default and remedies provisions
Lease terms vary by property, so review each lease rather than relying on the tenant’s rating.
Geographic & Market Considerations
PNC’s retail branch network is located coast-to-coast (Form 10-K for 2025). Property locations should be evaluated based on:
- Market demographics – population density, income levels, business activity
- Banking competition – proximity to other banks and financial institutions
- Economic trends – regional business activity, employment stability, population trends
- Strategic positioning – visibility, accessibility, retail/commercial area strength
For PNC properties, evaluate both the tenant’s credit and the local market fundamentals.
Investment Grade Credit Rating Standards
Investment-grade status requires S&P ratings of BBB- or higher, or Moody’s ratings of Baa3 or higher. PNC Bank, N.A.’s A/A2 ratings are above these thresholds. When an investment-grade entity signs or guarantees the lease, a property may see:
- Potentially broader buyer interest, depending on the property and lease
- Resale prospects that still depend on the property, the lease and the market at the time of sale
- Financing options, though loan availability and pricing depend on the lender, property, lease and market conditions
- Possible eligibility for investment-grade-focused mandates, subject to each mandate’s rules and the actual lease obligor or guarantor
None of these outcomes is assured; confirm the tenant and any guarantor in each lease and review the property itself.
Risk Assessment & Due Diligence
IG bank tenants warrant appropriate due diligence. Key areas to investigate include:
- Regulatory standing – capital ratios, stress test results, regulatory ratings
- Asset quality – loan loss provisions, non-performing assets, credit metrics
- Deposit trends – customer deposit growth, deposit mix stability
- Net interest margin – NIM trends, rate environment sensitivity
- Management quality – leadership track record, strategic direction
- Lease quality – property condition, market position, lease enforceability
- Environmental & legal – Phase I ESA, title insurance, encumbrances
An investment grade rating does not replace property-level due diligence.
Comparison to Investment-Grade Alternatives
Bank ratings are comparable only when they cover the same kind of entity and the same rating type. The ratings on this page are PNC Bank, N.A.’s S&P long-term issuer and Moody’s senior debt ratings. Other bank pages show different entities and rating types: Truist (Truist Bank issuer ratings), TD Bank (parent bank; S&P issuer credit rating and Moody’s long-term deposits and counterparty risk rating), US Bank (U.S. Bancorp holding-company issuer ratings) and Capital One (rated entity and rating type on its page). Check the rated entity, rating type and date on each page before comparing.
Our tenant rating directory lists the ratings on file for the NNN tenants we cover.
PNC Bank NNN Cap Rates
Live asking cap rates for PNC Bank and comparable tenants:
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| TD Bank | A+ / Aa1 | 5.00% | 5.00% to 5.25% | 5 | −24 bps |
| PNC Bank | A / A2 | 5.08% | 4.75% to 6.06% | 20 | −17 bps |
| U.S. Bank | A / A3 | 5.50% | 5.13% to 5.84% | 7 | +26 bps |
| Truist | A / A3 | 6.25% | 6.16% to 7.00% | 5 | +101 bps |
Active listings InvestmentGrade.com tracks with an asking cap rate (stated in the listing, or computed from its stated income and price when no rate is stated), listings last observed October 12, 2026. Asking cap rates are not closed-sale cap rates. The middle half is the range from the 25th to the 75th percentile of listings. The 10-year Treasury yield is 5.24% as of October 1, 2026 (FRED series DGS10). Ratings are the agency ratings in our ratings database for the entity shown, which may be a parent company; the rating type (for example issuer, senior unsecured debt, long-term debt or revenue bond ratings) varies by company and is shown on each tenant page. A rating applies to a lease only if the rated entity signs or guarantees it, so confirm the tenant and any guarantor in the lease. n/a means no verified rating is on file. Not shown because fewer than 3 active listings with a published cap rate were observed: Capital One.
Frequently Asked Questions
Is PNC Bank investment-grade?
Yes. PNC Bank, N.A. carries an S&P long-term issuer rating of A and a Moody’s senior debt rating of A2, both above the investment grade minimums of BBB- and Baa3. Its holding company, The PNC Financial Services Group, Inc., is also rated investment grade (Form 10-Q, June 30, 2026). Confirm the actual tenant entity, and any guarantor, in each lease.
What cap rates do PNC Bank NNN properties offer?
Current median asking cap rates for PNC Bank and comparable tenants are shown in the live table on this page. Pricing for a specific property depends on the remaining lease term, rent level, location and lease guarantor, and asking cap rates are not closed-sale cap rates.
How many PNC Bank locations exist?
PNC had 2,304 branches as of June 30, 2026 (Form 10-Q), and its retail branch network is located coast-to-coast.
What is the typical lease term for PNC Bank NNN properties?
Initial terms and renewal options vary by lease. Specific lease terms should be verified in individual lease agreements.
What due diligence should I conduct on PNC Bank properties?
Review PNC’s regulatory filings and capital ratios, verify lease terms, commission Phase I environmental assessments, analyze property condition and market position, and evaluate branch performance trends in the local market.
Contact & Resources
For questions about PNC NNN properties or investment-grade tenant evaluation, contact our team. We also provide resources on 1031 exchange planning and portfolio construction strategies.
PNC Bank Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market PNC Bank properties, review the lease and the tenant’s credit, and compare pricing with current listings. On the majority of transactions, there is no separate fee to you as the buyer; the listing broker pays a cooperating commission.
Selling: We can prepare an opinion of value from current listings and recent sales and, when it fits your goals, run a confidential sale to private investors, family offices and institutional buyers. See our guide to off-market sales.
Financing: Investment Grade Capital, a service of Investment Grade LLC, matches buyers and owners with lenders for acquisitions and refinancing.
1031 exchanges: Tell us your identification and closing deadlines so we can plan the search around them.
Request an NNN investment consultation or email team@investmentgrade.com.
Related NNN Tenants
1031 bank-branch benchmark: compare credit first, then cap rate
For a 1031 buyer comparing bank-branch NNN properties, the first screen is not the highest advertised yield. Start with the tenant entity and any guarantor named in the lease, their agency ratings, deposit-market exposure, remaining lease term, branch real estate quality, and whether the cap-rate spread is enough compensation for the credit and location risk.
Use this page alongside the best investment-grade NNN tenants for a 1031 exchange shortlist and the 2026 NNN cap-rate framework to compare bank credit against QSR, pharmacy, convenience, industrial, and medical tenants.
Deadline buyer note: if your 45-day identification window is open, compare bank branches by credit tier, lease control, real estate reusability, and financing certainty before chasing a few extra basis points of cap rate.
PNC Bank NNN Properties Observed For Sale
20 active PNC Bank net lease listings observed across public listing sources, most recently Oct 9, 2026. Asking figures as published by the listing party.
| Location | Asking Price | Cap Rate | Building SF | Term Left | |
|---|---|---|---|---|---|
| North Brunswick Township, NJ | $2,570,460 | 6.00% | 3,710 | n/a | View listing |
| Indian Land, SC | $3,558,000 | 4.75% | 3,000 | 20.5 yrs | View listing |
| Crawfordsville, IN | $1,600,000 | 5.00% | 3,000 | n/a | View listing |
| New Albany, IN | $1,754,386 | 5.70% | 2,250 | n/a | View listing |
| Trenton, MI | $1,334,880 | 6.25% | 2,860 | n/a | View listing |
| Philadelphia, PA | $1,500,000 | 6.65% | 6,250 | 3.8 yrs | View listing |
| Bethel Park, PA | $2,300,000 | 6.33% | 2,420 | n/a | View listing |
| DAYTON, OH | $1,229,013 | 7.50% | 3,568 | n/a | View listing |
Search all 20 observed PNC Bank listings and the full NNN inventory
Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Buyer representation available on a cooperating commission basis. Information deemed reliable but not guaranteed.
