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Chase Bank Ground Lease, Greenville, SC

Chase Bank Ground Lease

Greenville, South Carolina

Price $2,055,000
Cap Rate 3.65%
NOI $75,000
Lease Term 15 Years
Lease Type Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2021
Building Size 2,883 SF
Lot Size 0.46 Acres (20,168 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN GROUND LEASE
» Long-term absolute NNN ground lease with scheduled rental increases, providing a hedge against inflation
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» Ideal investment opportunity for an out-of-area investor

INVESTMENT GRADE TENANT WITH STRONG FINANCIALS
» Corporate lease to JP Morgan Chase (NYSE: “JPM”), rated “A+” by Standard & Poor’s
» JPMorgan Chase, through its Chase subsidiary, is one of the “Big Four” banks of the U.S. and has over $2.6 trillion in assets
» Chase recently announced plans to open 400 new retail branches and hire 3,000 employees in new U.S. markets over the next five years as part of a $20 billion growth strategy

HIGH-EXPOSURE LOCATION WITH AFFLUENT AND LARGE CUSTOMER BASE
» Hard-corner location at the signalized four-way intersection of Farrs Bridge Road and West Parker Road, with excellent visibility and access to a combined 22,800 vehicles per day
» 111,286 residents live within five miles of the property, establishing an extremely large customer base for the site

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Surrounded by a strong mix of local and national retailers, including AutoZone, Food Lion, O’Reilly Auto Parts, Hardee’s, Subway, Wendy’s, and many more
» Outparcel to Food Lion-anchored Shopping Center, greatly promoting crossover shopping to the location
» Located within five miles of Furman University with nearly 3,000 undergraduate students



Property Description

The property has a hard-corner location at the signalized four-way intersection of Farrs Bridge Road and West Parker Road, with excellent visibility and access to a combined 22,800 vehicles per day. The site is ideally located in an affluent area, with an average annual household income of $72,610 within a five-mile radius of the property. 111,286 residents live within five miles of the property, establishing an extremely large customer base for the site.

The property is centrally located near large employers, retailers, and community hubs. The site is surrounded by a strong mix of local and national retailers, including AutoZone, Food Lion, O’Reilly Auto Parts, Hardee’s, Subway, Wendy’s, and many more. Additionally, the property is located outparcel to a Food Lion-anchored shopping center greatly promoting crossover shopping to the location. The location experiences increased traffic from area schools and universities, including Furman University (nearly 3,000 students), Berea High school, (1,927 students), and Berea Elementary School (459 students), all of which is located within 5 miles of the property.

Contact Us About This Property

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