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Chase Bank (GL)
702 North Pebble Beach Boulevard, Sun City Center, FL 33573
$2,585,000
Cap Rate 4.00%
Views: 36 DOM: 392 Updated: 03.08.23 Posted: 11.14.22 Status: Contract 07.13.23
Summary
| Price $2,585,000 | Built/Renov 2013 | Tenant Chase Bank (GL) |
| Cap Rate 4.00% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
3,879
| Lease Start
03-15-2022
| #Units
4,700
|
| Price/SF $666.41 | Expiration
03-15-2033
| Tenant Type Bank/Financial |
| NOI $103,400 | R. Term 9.3 | Ownership Ground Lease |
| Rent/SF
$26.66
| Increases 10.0%/5/yrs | Pop 5Mi 100,000 |
| Lot/AC 0.67 | Options 4/5yrs/10% | AHHI 5Mi $80,000 |
| | |
Lease Highlights
- 10.4 years remain on a 20 year lease.
- Low ground rent of $3.58/SF
- Rental increase of 10% every 5 years.
- Over $110+ million in deposits at this branch.
Location Description
The site is on a busy 39,000 VPD hard corner signalized intersection of a main retail corridor of the city. Across the street are CVS and Walgreens. The Chase Bank location has high $110 million in deposits. Sun City Center is a dynamic South Central Florida area that of- fers its residents the finest of amenities, making it one of the most desirable communities in the country. It...
...Features
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Signalized intersection
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Hard corner intersection
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Dense retail corridor
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Strategically located
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Top 100 MSA
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Affluent suburb location
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Income tax free state
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Long 10+ yr lease
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Over 2000 units backed
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Investment grade tenant
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Links
Maps
Tenant
- Tenant: Chase Bank (GL)
- Guarantor:Corp T and Rated
- Company:JPMorgan Chase Bank N.A.
- # Units:4,700
- Tenant S&P: A-
- Moody’s: Aa3
- Stock:NYSE: JPM
About Tenant
Chase Bank, is a subsidiary of JP Morgan Chase & Co., a diversified financial services company with roots dating back to 1799. Today, Chase Bank operates more than 4,800 branches in 48 states and...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2027 Total Population : | 6,915 | 47,893 | 105,446 |
| 2022 Total Population : | 6,912 | 45,793 | 100,511 |
| 2022 Employed Civilian Pop : | 1,194 | 14,524 | 41,058 |
| 2022 Total Businesses : | 257 | 783 | 1,638 |
| 2022 Average Household Income : | $ 68,902 | $ 85,239 | $ 95,202 |
| 2022 Total Consumer Spending : | $ 255 M | $ 1513 M | $ 3156 M |
| 2022 Median Age : | 77 | 61 | 42 |
| 2022 Total Households : | 4,272 | 20,468 | 38,405 |
| 2022 Pop Age 25+: Bachelor's Degree : | 1,275 | 7,129 | 13,927 |
| 2022 Average Home Value : | $ 227,753 | $ 278,865 | $ 300,228 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| N Pebble Beach Blvd | Rickenbacker Dr | 2016 | 10,100 | 0.04 mi |
| Sun City Center Blvd | Trinity Lakes Dr | 2012 | 34,000 | 0.28 mi |
| Sun City Center Boulevard | Huxley Pl | 2020 | 33,000 | 0.54 mi |
| Sun City Center Blvd | del Webb Blvd E | 2016 | 28,500 | 0.95 mi |
| N US Hwy 301 | Sun City Center Blvd | 2013 | 3,400 | 1.04 mi |
| N US Hwy 301 | Sun City Center Blvd | 2016 | 14,600 | 1.06 mi |
| Sun City Center Boulevard | Sun City Center | 2020 | 40,000 | 1.11 mi |
| Sun City Center Blvd | Cortaro Dr | 2016 | 37,000 | 1.22 mi |
| North Pebble Beach Boulevard | Chickory Ln | 2020 | 4,600 | 1.22 mi |
| N US Hwy 301 | Valencia Grande Ave | 2013 | 9,700 | 1.33 mi |
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