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Chase Bank Ground Lease, Springdale, AR

Chase Bank Ground Lease, Springdale, AR


Investment Summary

Price $2,100,000
Cap Rate 5.00%
NOI $104,975
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 Renovated in 2023
Building Size 3,189 SF
Lot Size 1.01 acres (43,996 SF)
Status Available
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Jack Hinson
Brokerage
704.572.9921
j.hinson@cushwake.com
CA RE License #02059267

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

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

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN GROUND LEASE TO INVESTMENT GRADE TENANT (S&P: A+)
» 15-year absolute NNN ground lease with 10% rental increases every five years
» Corporate lease to JP Morgan Chase (NYSE: “JPM”), rated “A+” by S&P
» Chase Bank is one of the world’s leading financial institutions with over $3.9 trillion in assets as of December 2023
» JP Morgan Chase reported approximately $50 billion of profit in 2023
» No landlord management, ideal for a passive or out of area investor

HIGH-VISIBILITY OUTPARCEL LOCATION TO A WELL-PERFORMING WALMART
» Easily accessible and high-visibility location on West Sunset Avenue (25,183 AADT) with large pylon sign at shopping center entrance
» Outparcel to Walmart Neighborhood Market, positioning the site to capture significant crossover traffic
» Surrounded by major national retail tenants including Lowe’s (70th percentile nationwide according to Placer.ai), Walmart Neighborhood Market, Bank of America, 7 Brew Coffee, HARPS Marketplace, Dunkin’, Walgreens, O’Reilly Auto Parts, Starbucks and many others
» Centrally located near several community hubs and schools including Southwest Junior High School (660 students), Walker Elementary School (586 students), Shiloh Christian School (854 students), Springdale Recreation Center, Links at Springdale, Rotary Adventure Park and several others

AFFLUENT AND RAPIDLY GROWING ARKANSAS SUBMARKET
» Beneficial location in an affluent area, with an average annual household income of $96,202 within a five-mile radius of the property (and expected to grow by 15+% by 2028)
» 114,182 residents live within five miles of the property, along with 64,700 daytime employees, establishing a large customer base for the site
» 15-minute drive from Walmart’s new 350-acre corporate headquarters
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next three years poise Chase Bank and Springdale for steady concurrent growth.
» Surrounded by single-family residential developments, creating a stable customer base for the site

Property Description

» This Chase Bank has an easily accessible and high-visibility location on West Sunset Avenue (25,183 AADT). The site is an outparcel to Walmart Neighborhood Market, positioning the site to capture significant crossover traffic
» The property is situated in a major retail corridor, surrounded by large national retail tenants including, Walmart Neighborhood Market, Bank of America, 7 Brew Coffee, HARPS Marketplace, Dunkin’, Walgreens, O’Reilly Auto Parts, Starbucks and many others
» The site is centrally located near several community hubs and schools including Southwest Junior Highschool (660 students), Walker Elementary School (586 students), Shiloh Christian School (854 students), Springdale Recreation Center, Links at Springdale, Rotary Adventure Park and several others
» The property is beneficially located in an affluent area, with an average annual household income of $96,202 within a five-mile radius of the property
» 114,182 residents live within five miles of the property, establishing a large customer base for the site
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next three years poise Chase Bank and Springdale for steady concurrent growth
» The site is surrounded by single-family residential developments, creating a stable customer base for the site

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