Trophy NYC Chase Bank
Retail | 4.50% CAP | 3,002 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Chase Bank located at 1295 Madison Ave., New York, NY 10128. The site consists of roughly 3,002 rentable square feet of building space on an estimated 0.14-acre parcel of land. This Chase Bank is subject to a 15.5-year Triple Net (NNN) lease, which commenced 3/15/2023. The current annual rent is $616,500 and has scheduled increases of 10.00% every 5 years.
Investment highlights
Long-Term NNN Lease With Zero Landlord Responsibilities | The subject investment property features an original long term 15-year lease with over 13 years remaining and is subject to zero landlord responsibilities.
Strong Corporate Guarantee | This lease will be subject to a strong corporate guarantee from JP Morgan Chase. JP Morgan Chase is the largest bank in the United States and the world's largest bank by market capitalization with over $3.9 trillion in assets, as of 2023.
Attractive Rental Increases | The subject investment property features attractive rental increase of 10% Every 5 Years, providing a strong hedging against inflation and future income growth for potential investors.
Affluent Community | The subject property benefits from being situated in an extremely affluent community in the upper east side of Manhattan, where the average household income within a one-mile radius exceeds $135,100.
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