Marcus & Millichap brokered the sale of 3605 S Preston Road, a 3,156-square-foot net-leased PNC bank in Celina, Texas.
The asset sold for $3.29 million, a 4.85 percent cap rate or more than $1,045 per square foot.
Jason Fefer and Tyler Bindi, NNN investment specialists in Marcus & Millichap’s Los Angeles office, in association with Tim Speck, Marcus & Millichap’s Texas broker of record, procured the buyer, a local private investor. The seller was a Dallas Fort Worth-based real estate developer.
Built in 2026, the 3,156-square-foot PNC Bank branch sits on a 0.90-acre parcel at 3605 S. Preston Rd. The property is fully leased under a 20-year absolute net ground lease, providing the owner with no landlord responsibilities throughout the lease term. The buyer acquired the property as a long-term passive investment designed to generate stable income with minimal ongoing management.
