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Chase Bank (GL)
4990 Town Center Parkway, Jacksonville, FL 32246
$6,550,964
Cap Rate 4.25%
Summary
| Price $6,550,964 | Built/Renov 2017 | Tenant Chase Bank (GL) |
| Cap Rate 4.25% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
3,614
| Lease Start
10-01-2017
| #Units
4,784
|
| Price/SF $1,812.66 | Expiration
09-30-2037
| Tenant Type Bank/Financial |
| NOI $278,416 | R. Term 13.9 | Ownership Ground Lease |
| Rent/SF
$77.04
| Increases 2.5%/1/yrs | Pop 5Mi 169,671 |
| Lot/AC 0.53 | Options 4/5yrs/2.5% | AHHI 5Mi $87,310 |
| | |
Lease Highlights
- Chase Bank is original tenant: build-to-suit facility (2017)
- The tenant has over 14 years remaining in its initial term with 4 (5-year) options to extend
- The ground lease features 2.5% annual rent increases
- Zero landlord responsibilities- Absolute NNN lease
- Corporate guarantee by JP Morgan Chase Bank (NYSE: JPM)
- JP Morgan Chase Bank is an investment grade tenant (S&P: A+)
Location Description
This Chase Bank is well-positioned at the main intersection that connects the Costco-anchored center, the Strand at Town Center, and Simon Property Group’s St. John’s Center. Situated in St. John’s Town Center which welcomes over 16 million visitors per year, this site is within immediate proximity to I-295 (118,000 VPD) and Turner Butler Blvd. (128,500 VPD). The property benefits from being...
...Features
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Signalized intersection
-
Freeway close
-
Dense 100M+ pop 5 mi
-
Top 100 MSA
-
Income tax free state
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Absolute NNN
-
Long 10+ yr lease
-
Annual rent increases
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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:JP Morgan Chase Bank N.A.
- # 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....
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 12,145 | 80,948 | 207,493 |
| 2023 Total Population : | 11,400 | 77,431 | 200,808 |
| 2023 Employed Civilian Pop : | 7,553 | 44,080 | 110,940 |
| 2023 Total Businesses : | 904 | 4,460 | 11,507 |
| 2023 Average Household Income : | $ 106,452 | $ 95,189 | $ 93,479 |
| 2023 Total Consumer Spending : | $ 603 M | $ 2913 M | $ 7044 M |
| 2023 Median Age : | 34 | 33 | 36 |
| 2023 Total Households : | 6,466 | 34,941 | 86,480 |
| 2023 Pop Age 25+: Bachelor's Degree : | 3,735 | 17,927 | 40,796 |
| 2023 Average Home Value : | $ 344,665 | $ 321,847 | $ 339,112 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Gate Parkway | Shiloh Mill Blvd | 2021 | 17,000 | 0.12 mi |
| Gate Pkwy N | Skinner Lake Dr | 2010 | 33,412 | 0.22 mi |
| GORE GATE PKWAY | Gate Pkwy N | 2021 | 9,300 | 0.33 mi |
| GORE AT SR-202 WB | Gate Pkwy N | 2021 | 8,400 | 0.34 mi |
| GORE AT GATE PKWY | Gate Pkwy | 2021 | 8,600 | 0.39 mi |
| GORE AT SR-202 EB | Gate Pkwy | 2021 | 8,200 | 0.40 mi |
| Deerwood Park Blvd | Gate Pkwy N | 2010 | 16,138 | 0.52 mi |
| Butler Boulevard | Optima Way | 2021 | 120,500 | 0.60 mi |
| Town Center Parkway | Rivere Marsh Dr | 2021 | 42,500 | 0.64 mi |
| Butler Boulevard | River City Dr | 2021 | 123,000 | 0.67 mi |
