Chase Bank (GL)

2631 Oswell Street, Bakersfield, CA 93306

$2,930,000

Cap Rate 4.78%

$3,111,000

Cap Rate 4.50%

Updated: 03.02.24 Posted: 09.19.23 Status: Sold

Summary

Price $2,930,000 $3,111,000	Built/Renov 2022	Tenant Chase Bank (GL)
Cap Rate 4.78% 4.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 3,576	Lease Start 12-01-2021	#Units 4,784
Price/SF $819.35 $869.97	Expiration 11-30-2041	Tenant Type Bank/Financial
NOI $140,000	R. Term 16.6	Ownership Ground Lease
Rent/SF $39.15	Increases 10.0%/4/yrs	Pop 5Mi 190,252
Lot/AC 0.85	Options 3/5yrs/10%	AHHI 5Mi $57,958

Lease Highlights

New 2022 construction
Chase Bank currently has over 18 years remaining on the current lease term with 2 (5-year) and 1 (4-years 11 months) options to extend
The ground lease features a 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guarantee by JPMorgan Chase & Co. (NYSE: CVX)

Location Description

This Chase bank is conveniently located in front of an In-Shape and Pet Smart anchored shopping center, with excellent exposure and visibility on Oswell St. (34,000 VPD), and immediately off of Hwy. 178 (40,250 VPD). Additional center tenants include Banfield Pet Hospital, Domino’s Pizza, Goodwill, and U.S. Bank, creating strong tenant synergy and high consumer traffic to the area. Neighboring...

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Key Features

New construction
Build to suit
Shopping Ctr out-parcel
Highway close
Dense 100M+ pop 5 mi
Top 100 MSA
Long 15+ yr lease
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

Chase Bank Wikipedia Chase Bank Wikipedia Bakersfield, California Zip Code 93306 Broker Site Page

Maps

Local Information

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 :	16,222	115,537	201,394
2023 Total Population :	16,409	114,770	198,918
2023 Employed Civilian Pop :	7,033	42,097	70,959
2023 Total Businesses :	368	2,161	6,610
2023 Average Household Income :	$ 94,746	$ 69,500	$ 67,065
2023 Total Consumer Spending :	$ 447 M	$ 2072 M	$ 3623 M
2023 Median Age :	36	30	30
2023 Total Households :	5,445	34,094	61,717
2023 Pop Age 25+: Bachelor's Degree :	1,607	5,743	9,959
2023 Average Home Value :	$ 388,041	$ 312,020	$ 303,995

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Oswell St	Mall View Rd	2017	33,180	0.02 mi
Oswell St	Sill Pl	2007	17,247	0.10 mi
178		2018	40,000	0.13 mi
Oswell Street		2021	40,750	0.14 mi
Oswell St	State Hwy178	2017	27,895	0.19 mi
Auburn St	Maywood Dr	2017	10,325	0.23 mi
Oswell St	Pico Ave	2017	27,809	0.25 mi
Auburn St	Oswell St	2012	10,611	0.26 mi
Oswell St	Auburn St	2004	23,200	0.27 mi
Auburn St	Catalina Dr	2009	18,651	0.31 mi

Listing Broker

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
26790 Views
78 Sold

Bill Asher

Hanley Investment Group

Contact

151 Listings
27517 Views
75 Sold

Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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