Listed by CBRE - South Bay
$5,825,000
Chase Bank Westminster
Details
APN 096-332-59; 096-332-61; 096-332-51
Property Type Retail
Sub Type Bank
Square Footage 14,774
Net Rentable (SqFt) 14,774
Units 1
Cap Rate 5.46%
NOI $317,772
Occupancy 100%
Tenancy Single
Brand/Tenant Chase Bank
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 02/27/2032
Remaining Term 6
Rent Bumps Yes
Lease Options Three 5-Yr. Options Remaining
Pro-Forma Cap Rate 5.72%
Pro-Forma NOI $332,907
Price per SqFt $394
Year Built 1963
Year Renovated 2018, 2021
Buildings 1
Stories 2
Acreage 1.050
Zoning C1
Parking Spaces 108 spaces
Parking Per SqFt 7.31
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 02/28/2017
Rent Commencement 02/28/2017
Ground Lease No
Ownership Fee Simple (Land & Building)
Newly Extended STNL Chase Bank with 10% rent increase in 03/27- High Traffic Corner-Westminster CACA
Investment highlights
- Recent early 5-yr extension (6.0 yrs remaining) absolute NNN lease | Zero landlord expense responsibilities | Built In 10% Rent Growth (03/1/27)
- Secure investment grade credit tenant | largest U.S. Financial institution
- Solid real estate fundamentals & irreplaceable location | potential future mixed use redevelopment opportunity (MU-40 Zoning Overlay)
- Desirable trade area & demographics
- Top performing branch | strong deposits in excess of $400M
Listing Contacts
Listed by CBRE - South Bay
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$317,772.00
$26,481.00/mo
Valuation Metrics
0
DSCR
5.46%
Cap Rate
5.46%
ROI
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