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Chase Bank (GL)

90 West Butler Avenue, Ambler, PA 19002

$4,428,571

Cap Rate 3.50%

Views: 58 DOM: 164 Updated: 04.09.24 Posted: 12.07.23 Status: Active

Summary

Price $4,428,571
Built/Renov 2021
Tenant Chase Bank (GL)
Cap Rate 3.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,391
Lease Start 11-06-2021
#Units 5,100
Price/SF $1,305.98
Expiration 11-30-2036
Tenant Type Bank/Financial
NOI $155,000
R. Term 12.6
Ownership Ground Lease
Rent/SF $45.71
Increases 10.0%/3/yrs
Pop 5Mi 151,577
Lot/AC 0.56
Options 3/5yrs/10%
AHHI 5Mi $149,571

Steve Schrenk
Forged Real Estate
Contact

Marc Mandel
Forged Real Estate
Contact

Lease Highlights

  • Chase Bank has 12+ years remaining on the current lease term with 2 (5-year) and 1 (4.5) year options
  • Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
  • Absolute NNN ground lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NYSE: JPM)
  • Investment grade tenant (S&P: A+)

Location Description

Chase Bank is strategically located on the signalized, hard corner intersection of Butler Avenue and Maple Avenue, directly adjacent to the Ambler Train Station on the Lansdale/Doylestown Line. The property benefits from a convenient position, being just over one mile from prominent educational institutions, including Temple University Ambler, Upper Dublin High School, Fort Washington...

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Key Features

  • Signalized intersection

  • Hard corner intersection

  • Near major nationals

  • Strategically located

  • Top 100 MSA

  • Strong demographics

  • Absolute NNN

  • Long 10+ yr lease

  • Traded and rated company

  • Investment grade tenant

    • ...

Links

Chase Bank Wikipedia Chase Bank Wikipedia Ambler, Pennsylvania Zip Code 19002 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chase Bank
  • Guarantor:Corp T and Rated
  • Company:JPMorgan Chase & Co.
  • # Units:5,100
  • Tenant S&P: A-
  • Moody’s: A1
  • Stock: NYSE: JPM

About Tenant

JPMorgan Chase Bank, N.A., doing business as Chase, is an American national bank. Founded in 1877, The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000....


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 11,427 44,009 160,989
2023 Total Population : 10,954 43,025 159,437
2023 Employed Civilian Pop : 6,477 23,690 87,103
2023 Total Businesses : 500 2,505 7,319
2023 Average Household Income : $ 132,600 $ 196,412 $ 177,214
2023 Total Consumer Spending : $ 478 M $ 2684 M $ 8912 M
2023 Median Age : 41 47 46
2023 Total Households : 4,269 16,393 60,148
2023 Pop Age 25+: Bachelor's Degree : 2,548 11,181 39,336
2023 Average Home Value : $ 439,318 $ 564,803 $ 507,444
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Butler Ave S Maple Way 2017 11,532 0.03 mi
S Main St Rosemary Ave 2017 1,663 0.08 mi
N Main St Race St 2017 5,212 0.09 mi
E Butler Ave N Spring Garden St 2016 9,843 0.12 mi
West Butler Avenue Locust St 2020 8,284 0.14 mi
North Main Street Forest Ave 2019 2,766 0.15 mi
N Main St Forest Ave 2017 2,511 0.19 mi
W Butler Ave Morris Rd 2017 11,532 0.29 mi
Reiffs Mill Road N Main St 2020 1,893 0.31 mi
Morris Rd Mercer Hill Rd 2017 7,776 0.48 mi

Listing Broker

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