Chase Bank (GL)

5045 Library Road, Bethel Park, PA 15102

$2,556,000

Cap Rate 4.50%

Views: 4 DOM: 250 Updated: 08.21.23 Posted: 04.05.23 Status: Active

Summary

Price $2,556,000	Built/Renov 2021	Tenant Chase Bank (GL)
Cap Rate 4.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 3,279	Lease Start 07-01-2021	#Units 4,784
Price/SF $779.51	Expiration 07-01-2041	Tenant Type Bank/Financial
NOI $115,000	R. Term 17.6	Ownership Ground Lease
Rent/SF $35.07	Increases 10.0%/3/yrs	Pop 5Mi 243,738
Lot/AC 0.56	Options 2/5yrs/10%	AHHI 5Mi $115,253

Lease Highlights

New 2021 construction
Chase Bank recently signed a brand-new 20-year lease with 2 (5-year) options
Ground lease features 10% rental increases throughout the initial term and at each option period
Absolute NNN lease presents zero landlord responsibilities
Corporate guarantee by JPMorgan Chase Bank N.A. (NYSE: JPM)
Chase Bank is an investment grade tenant (S&P: A+)

Location Description

Chase Bank is located along Library Road (State Highway 88) with access to 15,200 vehicles per day. The site is ideally situated as an outparcel to Bethel Park Shopping Center, a 248K+ SF Community Center anchored by Walmart and Giant Eagle. Additional national/credit tenants in the area include AMC Theaters, The Home Depot, Kohl’s,Auto Zone, Aldi, Petco and many more. The tenant is located a...

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Features

Signalized intersection
Hard corner intersection
Near major nationals
WalMart out-parcel
Highway location
Top 100 MSA
Affluent AHHI $100K 5 Mi
Long 15+ yr lease
Traded and rated company
Investment grade tenant

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Links

Chase Bank Wikipedia Chase Bank Wikipedia Bethel park, Pennsylvania Zip Code 15102 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Chase Bank
Guarantor:Corp T and Rated
Company:JPMorgan Chase Bank N.A.
# 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....

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	8,354	90,485	242,885
2023 Total Population :	8,345	91,694	246,176
2023 Employed Civilian Pop :	4,244	49,134	132,039
2023 Total Businesses :	416	3,124	7,553
2023 Average Household Income :	$ 110,132	$ 129,985	$ 120,074
2023 Total Consumer Spending :	$ 341 M	$ 4281 M	$ 10859 M
2023 Median Age :	51	48	46
2023 Total Households :	3,623	38,641	105,588
2023 Pop Age 25+: Bachelor's Degree :	1,873	22,400	55,737
2023 Average Home Value :	$ 300,265	$ 310,064	$ 297,161

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Brightwood Road	Library Rd	2019	6,207	0.09 mi
Library Road	Lytle Rd	2021	14,706	0.15 mi
Library Road	Jordan Dr	2020	12,991	0.15 mi
Brightwood Road	Library Rd	2020	5,199	0.17 mi
Brightwood Rd	Lindermer Ave	2015	6,374	0.20 mi
Broughton Road	Locust Rd	2021	13,644	0.21 mi
Library Rd	Lindermer Ave	2015	13,643	0.24 mi
Broughton Rd	Gerhold St	2015	10,000	0.29 mi
Library Road	Lytle Rd	2021	16,066	0.37 mi
Brightwood Rd	Slater Rd	2015	4,221	0.40 mi

Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

235 Listings
3258 Views
84 Sold

Patrick Luther

SRS National Net Lease Group

Contact

277 Listings
3010 Views
99 Sold

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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