Chase Bank,
South Lake Tahoe, CA Investment Summary
| Price | $3,900,000 |
| Cap Rate | CALL FOR DETAILS |
| NOI | CALL FOR DETAILS |
| Lease Term | 10 Years |
| Lease Type | Net, with Tenant Responsible for Taxes, Insurance, and Maintenance, Excluding Structure and Parking Lot |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2019 |
| Building Size | 3,000 SF |
| Lot Size | 0.43 Acres (18,936 SF) |
| Status | Closed |
| Lead Brokers | Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NEW LONG-TERM NET LEASE TO STRONG CORPORATE TENANT
» Corporate lease to JP Morgan Chase (NYSE: “JPM”), rated “A+” by S&P
» JPMorgan Chase is ranked 20th on the Fortune 500
» Located in new retail development anchored by 365 By Whole Foods Market, an innovative grocery store concept that is a millennial-focused and more affordable version of regular Whole Foods stores
HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located at the signalized intersection of Ski Run Boulevard and U.S. Highway 50, South Lake Tahoe’s primary thoroughfare, with excellent visibility and access to 59,500 vehicles per day directly in front of the property
» Excellent location in South Lake Tahoe’s primary retail corridor, which features a healthy mix of local, regional, and national retailers
STRONG CUSTOMER BASE OF TOURISTS AND RESIDENTS
» Within walking distance of several large hotels
» Steps from Lake Tahoe and South Shore beaches
» Near Heavenly Mountain Resort, the largest and most popular of Tahoe’s ski resorts, with nearly 900,000 skier visits each year
» Approximately one mile from large resorts and casinos just over the California- Nevada state line, including Harrah’s, Hard Rock, and Montbleu
» Minutes from important community amenities, like Lake Tahoe Airport and Barton Memorial Hospital (111 beds)
» Close to large schools like Lake Tahoe Community College (4,000 students), South Tahoe Middle School (846 students), and South Tahoe High School (1,047 students)
FILL OUT THE FORM BELOW TO ACCESS OFFERING MEMORANDUM
Property Description
SOLD
The property is strategically located at the signalized intersection of Ski Run Boulevard and U.S. Highway 50, South Lake Tahoe’s primary thoroughfare, with excellent visibility and access to 59,500 vehicles per day directly in front of the property. Located in a dense retail and commercial corridor, the property is surrounded by notable retailers and large hotels. National tenants near the property include Safeway, CVS, Ross, Ace Hardware, and more. Several hotels are within walking distance of the property, and large resorts and casinos—like Harrah’s, Hard Rock, and Montbleu—are just over a mile away. Lake Tahoe and its beaches are just steps from the property. Also nearby is Heavenly Mountain Resort, the largest and most popular of Tahoe’s ski resorts, with nearly 900,000 skier visits each year. Additionally, the property is close to important community amenities—like Lake Tahoe Airport and Barton Memorial Hospital (111 beds)—as well as large schools like Lake Tahoe Community College (4,000 students), South Tahoe Middle School (846 students), and South Tahoe High School (1,047 students).
