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Chase Bank
1155 Edgebrook Drive, Houston, TX 77034
$2,632,000
Cap Rate 6.25%
Summary
| Price $2,632,000 | Built/Renov 1991/2023 | Tenant Chase Bank |
| Cap Rate 6.25% | Lease Type
NN+ | Guarantor Corp T and Rated |
| Size/SF
9,261
| Lease Start
11-01-1991
| #Units
4,784
|
| Price/SF $284.20 | Expiration
12-31-2028
| Tenant Type Bank/Financial |
| NOI $164,495 | R. Term 5.0 | Ownership Fee Simple |
| Rent/SF
$17.76
| Increases 10.0%/5/yrs | Pop 5Mi 329,290 |
| Lot/AC 1.74 | Options 2/5yrs/10% | AHHI 5Mi $85,175 |
| | |
Lease Highlights
- New 2023 renovation
- Chase Bank has a 30+ year operating history at this location
- Tenant has 5+ years remaining on their current lease term with 2 (5-year) options to extend and 10% rental increases every 5 years
- Favorable NN+ lease I Landlord responsible for roof and structure
- This branch boasts an impressive deposit base of over $134M reported in 2022
- Corporate guarantee by JPMorgan Chase Bank N.A. (NYSE: JPM)
Location Description
Chase Bank is strategically located on Edgebrook Drive with access to 13,430 vehicles passing per day. It is positioned near the intersection of I-45 and Edgebrook Drive with a combined traffic count of 194,000 VPD. National retailers in the immediate trade area include Walmart Supercenter, Ross, Marshalls, Adli, PetSmart, and many more. The subject property is located approximately 2.5 miles...
...Features
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Recent renovation
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Near major nationals
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Freeway visibility
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Dense 200M+ pop 5 mi
-
Top 100 MSA
-
Income tax free state
-
Long operation history
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Upside rent potential
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Favorable NN+ lease
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Traded and rated company
...
Maps
Tenant
- Tenant: Chase Bank
- Guarantor:Corp T and Rated
- Company:JPMorgan Chase & Co.
- # Units:4,784
- 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 : | 20,840 | 131,226 | 318,044 |
| 2023 Total Population : | 21,221 | 131,611 | 319,026 |
| 2023 Employed Civilian Pop : | 9,534 | 60,637 | 145,105 |
| 2023 Total Businesses : | 637 | 4,292 | 9,520 |
| 2023 Average Household Income : | $ 69,290 | $ 71,816 | $ 76,185 |
| 2023 Total Consumer Spending : | $ 419 M | $ 2758 M | $ 7044 M |
| 2023 Median Age : | 30 | 31 | 32 |
| 2023 Total Households : | 6,846 | 43,497 | 105,003 |
| 2023 Pop Age 25+: Bachelor's Degree : | 1,262 | 8,391 | 23,247 |
| 2023 Average Home Value : | $ 200,821 | $ 206,197 | $ 220,418 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Edgebrook Dr | Gulf Fwy | 2011 | 28,480 | 0.07 mi |
| Clearwood Street | Edgebrook Dr | 2019 | 30,541 | 0.21 mi |
| Clearwood St | Edgebrook | 2011 | 29,190 | 0.26 mi |
| Rodney St | Shawnee St | 2014 | 1,400 | 0.26 mi |
| I- 45 | Edgebrook Dr | 2011 | 206,000 | 0.28 mi |
| Edgebrook Dr | Rodney St | 2014 | 35,574 | 0.28 mi |
| Edgebrook | Clearwood St | 2011 | 4,860 | 0.33 mi |
| Rodney St | Edgebrook Dr | 2014 | 1,664 | 0.33 mi |
| Shawnee St | Gulf Fwy | 2001 | 2,110 | 0.33 mi |
| Gulf Freeway Frontage Road | Mosley Rd | 2021 | 30,319 | 0.37 mi |
