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Views: 69 Updated: 01.11.24 Posted: 06.25.23 Status: Inactive

Summary

Price $2,333,000
Built/Renov 1999/2023
Tenant Chase Bank (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,189
Lease Start 09-01-2023
#Units 4,784
Price/SF $731.58
Expiration 09-01-2038
Tenant Type Bank/Financial
NOI $104,975
R. Term 14.3
Ownership Ground Lease
Rent/SF $32.92
Increases 10.0%/5/yrs
Pop 5Mi 113,028
Lot/AC 1.01
Options 3/5yrs/10%
AHHI 5Mi $89,167

Lease Highlights

  • Brand-new 2023 construction equipped with ATM drive-thru
  • Brand-new 15-year lease with 3 (5-year) option periods to extend
  • The lease features 10% rental increases every 5 years
  • Absolute NNN ground lease | Zero landlord responsibilities
  • Corporate guarantee by JPMorgan Chase & Co.

Location Description

Chase Bank is strategically fronting Highway 412 with traffic counts of 43,000 vehicles passing per day. The subject property is 1 mile from Interstate 49, providing direct on/off ramp access for travelers. The immediate trade area is supported by national/credit tenants such as Harps Food, Walgreens, Chick-fil-A, Starbucks, and more. It is also down the street from a top-ranking Lowe’s by...

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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: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 : 8,958 65,391 120,529
2023 Total Population : 8,532 62,874 114,182
2023 Employed Civilian Pop : 3,957 29,887 56,013
2023 Total Businesses : 469 2,587 4,648
2023 Average Household Income : $ 76,386 $ 86,130 $ 96,202
2023 Total Consumer Spending : $ 199 M $ 1609 M $ 3303 M
2023 Median Age : 34 33 33
2023 Total Households : 2,988 21,391 39,348
2023 Pop Age 25+: Bachelor's Degree : 886 6,134 13,018
2023 Average Home Value : $ 215,207 $ 268,991 $ 299,769
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Carley Rd W Sunset Ave 2011 5,800 0.14 mi
South Gutensohn Road Pin Oak Dr 2021 9,400 0.14 mi
W Sunset Ave Dorman St 2008 23,810 0.25 mi
Carley Road Spring Meadows 2021 5,000 0.26 mi
Johnson Road W Sunset Ave 2021 9,700 0.37 mi
W Sunset Ave Janet St 2008 20,010 0.43 mi
Johnson Rd Henryetta St 2008 6,960 0.46 mi
Johnson Rd Henryetta St 2008 6,230 0.50 mi
Henryetta St Johnson Rd 2008 1,990 0.52 mi
South 40th Street Elliott Ave 2021 11,000 0.64 mi

Listing Broker

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