Listed by Stream Capital Partners Birmingham, Stream Capital Partners
$6,368,420
Chase Bank
Details
Property Type Retail
Sub Type Bank
Square Footage 3,600
Units 1
Cap Rate 4.75%
NOI $302,500
Occupancy 100%
Tenancy Single
Brand/Tenant Chase Bank
Lease Type Absolute NNN
Lease Term 19.1
Lease Expiration 01/01/2038
Remaining Term 11.6
Rent Bumps Yes
Lease Options 3, 5 year options
Price per SqFt $1,769
Buildings 1
Lot Size (SqFt) 41,610
Parking Spaces spaces
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 12/11/2018
Occupancy Date 12/11/2018
Ground Lease Yes
Retail | 4.75% CAP | 3,600 SF
Marketing description
JPMorgan Chase & Co. (NYSE: JPM) is a multinational banking and financial services holding company. With $2.8 trillion in assets, JPMorgan Chase is the largest bank holding company in the United States. With over 250,000 employees, the Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. It offers non-interest-bearing deposits; and interest-bearing deposits, such as savings accounts, demand deposits, and time deposits.
Investment highlights
- Commitment – Chase signed a 20-year lease that commenced in December 2018
- Rent Growth – Chase has committed to 10% rent increases every 5 years throughout the lease, providing a hedge against inflation
- Location – The branch is a “must have” to serve the high net worth individuals, family offices and businesses within the community and is located adjacent to the METRA North line that takes commuters to and from downtown Chicago
- Demographics – As one of the wealthiest towns in America, Lake Forest boasts average household incomes in excess of $384,000
- Trade Area – Lake Forest is home to major corporations which include: Grainger, Abbott, Pfizer, Brunswick, The Chicago Bears, Tenneco, Hospira, Northwestern Medicine Lake Forest Hospital, and more.
Listing Contacts
Listed by Stream Capital Partners Birmingham, Stream Capital Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$302,500.00
$25,208.33/mo
Valuation Metrics
0
DSCR
4.75%
Cap Rate
4.75%
ROI
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