Listed by Upland Real Estate Group Inc
$1,600,000
Chase Bank
Details
Property Type Retail
Sub Type Bank
Square Footage 3,000
Units 1
Cap Rate 5.5%
NOI $88,000
Tenancy Single
Brand/Tenant Chase Bank, JPMorgan Chase Bank N.A.
Lease Type NNN
Lease Term 9
Lease Expiration 05/31/2035
Remaining Term 9
Rent Bumps Yes
Lease Options Four 5-Year W/ 10% Increases
Price per SqFt $533
Year Built 1918
Year Renovated 2019
Acreage 0.170
Parking Spaces 7 spaces
Parking per 1,000 SqFt 2.33
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 06/01/2020
Ground Lease No
Chase Bank | Minneapolis, MN | 10% Every 5 Years
Marketing description
Ventura Village is a vibrant and historically rich neighborhood nestled within the Phillips community of Minneapolis. Officially established as a distinct neighborhood in 2002, it's located just south of downtown, bordered by major interstates (I-35W and I-94) and Hiawatha Avenue. The name "Ventura" itself, meaning happiness or luck in Spanish, reflects the community's hopeful spirit for its future.
Investment highlights
- Chase Bank has 9 years remaining on its original lease with 10% increases every 5 years.
- JPMorgan Chase Bank has an S&P Rating of AA- with over 4,700 branch locations and 15,000 ATMs.
- Bank Deposits of $25.4 Million as of 6/30/2024.
- This property is located near a new 30,000 SQ.FT. clinic with medical, dental, and behavioral health services, as well as an 83-unit apartment building.
- Located near many Interstates and Highways seeing upwards of 183,000 vehicles per day.
- Excellent demographics with a 5-mile population of 521,389 and an average household income of $123,615
- Just a short distance away from downtown Minneapolis, offering a wealth of entertainment, dining, and cultural experiences, including museums, theaters, and sports venues.
Listing Contacts
Listed by Upland Real Estate Group Inc
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$88,000.00
$7,333.33/mo
Valuation Metrics
0
DSCR
5.5%
Cap Rate
5.5%
ROI
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