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Chase Bank (GL)
56 W Mt Pleasant Ave, Livingston, NJ 07039
$5,273,000
Cap Rate 5.50%
Summary
| Price $5,273,000 | Built/Renov 2009 | Tenant Chase Bank (GL) |
| Cap Rate 5.50% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
4,208
| Lease Start
09-15-2009
| #Units
4,784
|
| Price/SF $1,253.09 | Expiration
09-30-2034
| Tenant Type Bank/Financial |
| NOI $290,000 | R. Term 10.9 | Ownership Ground Lease |
| Rent/SF
$68.92
| Increases 0.0%/0/yrs | Pop 5Mi 213,596 |
| Lot/AC 0.53 | Options 0/0yrs | AHHI 5Mi $206,657 |
| | |
Lease Highlights
- Chase Bank has been operating in this location since 2009
- Tenant recently extended a new 10-year ground lease term with no renewal options
- Absolute NNN | Zero landlord responsibilities
- Corporate guaranteed lease | Investment grade tenant
- This branch had $425M in deposits as of June 2023
Location Description
Chase Bank features significant frontage on W. Mt. Pleasant Avenue (30,795 VPD), just hundreds of feet from its signalized intersection with Livingston Avenue (21,439 VPD), and less than 1.5 miles from on/off-ramps to I-280 (75,729 VPD). Chase is located near major employers such as ADP, Prudential and Novartis Pharmaceuticals, multiple schools such as Livingston High School, Mount Pleasant...
...Features
-
In location for years
-
Dense retail corridor
-
Near major nationals
-
Strategically located
-
Top 100 MSA
-
Strong demographics
-
Recently extended lease
-
Long 10+ yr lease
-
Traded and rated company
-
Investment grade tenant
...
Maps
Tenant
- Tenant: Chase Bank (GL)
- 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 : | 13,172 | 62,424 | 215,640 |
| 2023 Total Population : | 13,488 | 62,019 | 213,596 |
| 2023 Employed Civilian Pop : | 6,895 | 32,653 | 111,350 |
| 2023 Total Businesses : | 477 | 2,963 | 9,646 |
| 2023 Average Household Income : | $ 267,839 | $ 244,751 | $ 206,657 |
| 2023 Total Consumer Spending : | $ 939 M | $ 4391 M | $ 13417 M |
| 2023 Median Age : | 45 | 47 | 43 |
| 2023 Total Households : | 4,270 | 21,700 | 77,706 |
| 2023 Pop Age 25+: Bachelor's Degree : | 3,147 | 15,422 | 47,815 |
| 2023 Average Home Value : | $ 734,053 | $ 742,731 | $ 738,788 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| W Mount Pleasant Ave | S Mitchell Ave | 2013 | 30,795 | 0.02 mi |
| N Livingston Ave | Plz Pl | 2013 | 21,439 | 0.15 mi |
| South Livingston Avenue | Oak St | 2017 | 12,467 | 0.18 mi |
| S Livingston Ave | Oak St | 2013 | 17,864 | 0.18 mi |
| NJ - 10 / West Mount Pleasant Avenue | Mount Pleasant Pkwy | 2017 | 14,579 | 0.27 mi |
| South Livingston Avenue | 2018 | 12,244 | 0.29 mi | |
| E Mount Pleasant Ave | Glendale Ave | 2013 | 19,039 | 0.30 mi |
| North Hillside Avenue | Surrey Ln | 2019 | 3,677 | 0.39 mi |
| East Cedar Street | S Livingston Ave | 2018 | 12,982 | 0.46 mi |
| Hillside Avenue | 2018 | 3,098 | 0.51 mi |
