loader
Views: 0 DOM: 75 Updated: 12.09.23 Posted: 09.27.23 Status: Active

Summary

Price $8,000,000
Built/Renov 1963
Tenant Chase Bank
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 1,680
Lease Start 02-01-2013
#Units 4,784
Price/SF $4,761.90
Expiration 01-31-2033
Tenant Type Bank/Financial
NOI $400,000
R. Term 9.1
Ownership Fee Simple
Rent/SF $238.10
Increases 10.0%/4/yrs
Pop 5Mi 541,372
Lot/AC 0.41
Options 0/0yrs
AHHI 5Mi $144,013

Lease Highlights

  • Chase Bank has been operating in this location since 1963
  • The tenant recently executed a 10-year lease extension
  • The lease features 10% rental increases every 5 years
  • Absolute NNN | Zero landlord responsibilities
  • According to the FDIC this location had approximately $465,000,000 in deposits with consistent year-over-year growth
  • Corporate guaranteed lease by JPMorgan Chase Bank, NA., an established bank and an investment grade tenant (S&P: A+)

Location Description

Chase Bank is strategically fronting Northern Blvd, the primary thoroughfare serving Great Neck and averaging 42,000 vehicles passing by daily. The subject property is less than 2 miles North of Long Island Expressway (192,700 VPD), the dominant Interstate Highway serving Long Island. The asset benefits from significant street frontage along Northern Blvd (State Highway 25A), promoting...

...

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...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 24,420 161,504 554,625
2023 Total Population : 24,398 162,165 558,561
2023 Employed Civilian Pop : 12,083 77,075 268,281
2023 Total Businesses : 2,603 7,901 20,382
2023 Average Household Income : $ 180,100 $ 171,084 $ 154,328
2023 Total Consumer Spending : $ 1453 M $ 8562 M $ 25513 M
2023 Median Age : 49 47 45
2023 Total Households : 9,729 60,093 198,056
2023 Pop Age 25+: Bachelor's Degree : 5,968 38,407 119,521
2023 Average Home Value : $ 936,793 $ 950,733 $ 837,127
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Northern Blvd Wensley Dr 2016 29,346 0.13 mi
Merrivale Road Rutland Rd 2021 817 0.18 mi
Merrivale Rd 2021 1,067 0.25 mi
Northern Boulevard Iris Ln 2018 33,973 0.26 mi
Knightsbridge Rd 2021 130 0.30 mi
Chester Dr 2021 47 0.32 mi
Carlton Rd 2021 216 0.32 mi
South Middle Neck Road Russell Woods Rd 2018 21,596 0.34 mi
Lakeville Rd S Middle Neck Rd 2019 21,026 0.34 mi
Linford Rd 2021 604 0.34 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

Company

NEWSLETTER SIGN UP

my activity