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Views: 74 DOM: 74 Updated: 11.15.24 Posted: 09.19.24 Status: Active 09.19.24

Summary

Price $4,300,000
Built/Renov 2024
Tenant Chase Bank (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,322
Lease Start 10-01-2024
#Units 5,100
Price/SF $1,294.40
Expiration 09-30-2039
Tenant Type Bank/Financial
NOI $215,000
R. Term 14.10
Ownership Ground Lease
Rent/SF $64.72
Increases 10.0%/5/yrs
Pop 5Mi 199,601
Lot/AC 0.80
Options 4/5yrs/10%
AHHI 5Mi $81,938

Lease Highlights

  • Brand new 2024 construction 
  • Chase Bank recently signed a brand new 15-year ground lease with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Chase Bank is strategically located at the signalized, hard corner intersection of W. Mercury Boulevard and Coliseum Drive, a primary retail and commuter junction, with access to a combined daily traffic count of 96,400 vehicles. The property is an outparcel to Peninsula Town Center, a massive mixed-use center that is the #3 most visited lifestyle center in Virginia, attracting over 7.3...

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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 : 12,816 83,511 199,411
2023 Total Population : 12,529 83,293 199,601
2023 Employed Civilian Pop : 6,085 39,091 90,846
2023 Total Businesses : 749 2,636 4,951
2023 Average Household Income : $ 74,365 $ 78,788 $ 81,938
2023 Total Consumer Spending : $ 431 M $ 2514 M $ 5935 M
2023 Median Age : 33 38 37
2023 Total Households : 6,572 36,651 83,344
2023 Pop Age 25+: Bachelor's Degree : 1,716 10,115 23,532
2023 Average Home Value : $ 248,034 $ 261,915 $ 276,885
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Mercury Blvd Coliseum Dr 2016 61,000 0.07 mi
Coliseum Dr Von Schilling Dr 2013 25,357 0.09 mi
W Mercury Blvd Coliseum Dr 2016 61,000 0.10 mi
West Mercury Boulevard I- 64 2018 62,000 0.14 mi
West Mercury Boulevard I- 64 2020 53,000 0.14 mi
West Mercury Boulevard Riverdale Dr 2021 57,000 0.14 mi
I- 64 2018 6,100 0.17 mi
I- 64 2021 11,000 0.20 mi
Coliseum Dr Von Schilling Dr 2011 21,000 0.21 mi
W Mercury Blvd Enfield Dr 2013 42,943 0.22 mi

Listing Broker

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