Chase Bank (GL)

3800 Silver Lake Road Northeast, Saint Anthony, MN 55421

$2,727,273

Cap Rate 4.40%

Views: 27 DOM: 31 Updated: 04.16.24 Posted: 04.16.24 Status: Active

Summary

Price $2,727,273	Built/Renov 2023	Tenant Chase Bank (GL)
Cap Rate 4.40%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 3,366	Lease Start 08-24-2023	#Units 5,100
Price/SF $810.24	Expiration 08-31-2038	Tenant Type Bank/Financial
NOI $120,000	R. Term 14.3	Ownership Ground Lease
Rent/SF $35.65	Increases 10.0%/5/yrs	Pop 5Mi 322,036
Lot/AC 1.20	Options 3/5yrs/10%	AHHI 5Mi $102,287

Lease Highlights

Chase Bank has 14+ years remaining on the current ground lease term with 3 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Chase Bank is strategically located on Silver Lake Road NE, boasting excellent ingress/egress and access to 18,600 vehicles passing by daily. The property is situated adjacent to Silver Lake Village shopping center and is surrounded by 3,600 multi-family units within a mile radius. Additionally, it benefits from its adjacency to well-known national retailers such as Club Foods, Chipotle, Cold...

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Key Features

Build to suit
Near major nationals
Strategically located
Top 100 MSA
Strong demographics
Absolute NNN
Long 10+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Chase Bank Wikipedia Chase Bank Wikipedia St. Anthony, Minnesota Zip Code 55421 Broker Site Page

Maps

Local Information

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. Chase...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	17,333	101,898	333,985
2023 Total Population :	16,766	99,361	324,043
2023 Employed Civilian Pop :	9,585	55,275	179,673
2023 Total Businesses :	352	3,982	13,799
2023 Average Household Income :	$ 111,993	$ 104,042	$ 102,226
2023 Total Consumer Spending :	$ 700 M	$ 3731 M	$ 11791 M
2023 Median Age :	43	40	35
2023 Total Households :	7,288	41,575	133,131
2023 Pop Age 25+: Bachelor's Degree :	3,802	21,630	63,059
2023 Average Home Value :	$ 371,915	$ 365,151	$ 378,963

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Silver Lake Road Northeast	39th Ave NE	2022	15,304	0.05 mi
39th Avenue Northeast	39th Ave NE	2018	18,100	0.09 mi
37th Ave NE	Silver Lake Rd NE	2015	8,900	0.16 mi
	Edgemere Ave	2022	12,644	0.17 mi
CR 136	Penrod Ln	2022	10,121	0.21 mi
Silver Lake Rd	36th Ave NE	2017	10,400	0.23 mi
37th Ave NE	36th Ave NE	2019	8,200	0.26 mi
Chandler Dr	Diamond Eight Ter	2019	2,100	0.27 mi
37th Ave NE	Chandler Dr NE	2017	13,400	0.27 mi
Silver La NE	Silver Lake Ter	2019	2,000	0.30 mi

Listing Broker

Jereme Snyder

Colliers NNN Group

Contact

138 Listings
6863 Views
40 Sold

Eric Carlton

Colliers NNN Group

Contact

149 Listings
7447 Views
42 Sold

Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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