Property details
Bank Properties, Great Lakes - Big Rivers Region
Property Description
Bank Properties
• 20 year absolute NNN ground lease
• 10% rent escalations every 5 years
• Corporate guarantee (NYSE: JPM)
• Investment grade credit (AA-)
• Site has very strong residual value
Bank properties like this brand new Chase Bank Ground Lease are sound investments. This strong bank tenant has signed a 20 year absolute NNN ground lease with 10% rent escalations every 5 years including the option periods. The site is located at a signalized corner on an arterial road with 30,000+ cars per day. The property is surrounded by retail, office and residential with exceptional demographics; 300,000+ population within a 5 mile radius and $115,000 average household income within 1 mile radius. Properties with such strong demographics are the ideal locations for a bank.
Property lease dates shown are estimates. Actual dates are subject to verification.
Why do investors like Bank Properties ?
Bank properties tend to be in great locations and simply put, they are properties that have been built for a bank with unique features like a vault. If bank tenants ever have to leave these properties, chances are usually good that there is another bank ready to move into these ready-to-go properties.
Other property related to Bank Properties
» Search for all properties related to Bank Properties by using our PROPERTY SEARCH, expand the Property Types, then check the boxes for "Net Lease" and "Ground Lease".
Images
Highlights
- Status:
- Available
- Price:
- $2,166,666
- PSF:
- $314
- Cap Rate:
- 6.00%
- Annual Rent:
- $130,000
- Rent Increases:
- 10% rent escalations every 5 years including the option periods.
Property Information
- Building Size:
- 6,900 sq.ft.
- Property Type:
- Ground Lease
- Industry Type:
- Bank - Credit Union
- Units/Spaces:
- 1
- Year Built:
- 2008
- Land Area:
- 0.45 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Chase Bank
- Lease Type:
- NNN
- Lease Commencement:
- 10/1/2008
- Lease Expiration:
- 10/1/2028
- Lease Term:
- 20 years
- Years Remaining:
- 19 years
- Landlord Responsibilities:
- None
- Options:
- Yes
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.