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Chase Bank (GL)
2631 Oswell Street, Bakersfield, CA 93306
$3,111,000
Cap Rate 4.50%
Summary
| Price $3,111,000 | Built/Renov 2022 | Tenant Chase Bank (GL) |
| Cap Rate 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 $869.97 | Expiration
11-30-2041
| Tenant Type Bank/Financial |
| NOI $140,000 | R. Term 17.11 | 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...
...Features
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New construction
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Build to suit
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Shopping Ctr out-parcel
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Highway close
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Dense 100M+ pop 5 mi
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Top 100 MSA
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Long 15+ yr lease
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Absolute NNN
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Traded and rated company
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Investment grade tenant
...
Maps
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 : | 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 |
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 |
