Listed by Bridgewater Commercial Real Estate
$3,157,895
Chase Bank Ground Lease
Details
Property Type Retail
Sub Type Bank
Square Footage 4,242
Net Rentable (SqFt) 4,242
Cap Rate 4.75%
NOI $150,000
Tenancy Single
Brand/Tenant JPMorgan Chase Bank
Lease Type Absolute NNN
Lease Term 20
Remaining Term 5
Rent Bumps Yes
Lease Options 4
Class A
Year Built 2012
Buildings 1
Acreage 1.400
Zoning Commercial Parkway
Investment Type Net Lease
Tenant Credit Credit Rated
Ground Lease Yes
Chase Bank | 4.75% CAP | 4,242 SqFt
Marketing description
30500 US Highway 19 North is a freestanding Chase branch on an absolute NNN ground lease to JPMorgan Chase Bank, N.A., one of the strongest credit tenants in the country. The structure is fully passive. The tenant carries all taxes, insurance, and maintenance, including roof and structure, so ownership comes with no landlord obligations.
The branch sits on a signalized hard corner at US Highway 19 and Curlew Road, one of the busiest retail intersections in Pinellas County. US Highway 19 carries about 78,000 vehicles per day and Curlew Road about 26,000, roughly 104,000 combined. The lease carries 10% rent increases at each of up to 4 renewal options, and the 1.40-acre parcel provides a durable real estate basis beneath the income.
Investment highlights
- Absolute NNN Ground Lease - Tenant pays all taxes, insurance, and maintenance, including roof, structure, and HVAC. Ownership is fully passive with no landlord responsibilities.
- Investment Grade Tenant - Leased to JPMorgan Chase Bank, N.A., one of the largest and most highly rated banking institutions in the United States.
- Hard Corner Location - A signalized hard corner at US Highway 19 and Curlew Road, one of the premier retail intersections in Pinellas County.
- Contractual Rent Growth - Rent steps up 10% at each renewal option, building income from $150,000 today to $219,615 in the final option period beginning in 2046.
- Long Occupancy Potential - About 5 years remaining on the initial term, with four 5-year renewal options that can extend occupancy through 2051.
- Affluent North Pinellas - Palm Harbor anchors an established, high-income trade area with strong daily traffic and a deep base of national retailers nearby.
Listing Contacts
Listed by Bridgewater Commercial Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$150,000.00
$12,500.00/mo
Valuation Metrics
0
DSCR
4.75%
Cap Rate
4.75%
ROI
Map
Zoning
CP CommercialSpecial CommercialCommercial Parkway
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