Chase Bank (GL)

15440 Shawnee Mission Parkway, Shawnee, KS 66217

$2,420,000

Cap Rate 4.75%

Views: 26 DOM: 39 Updated: 04.28.24 Posted: 04.09.24 Status: Active

Summary

Price $2,420,000	Built/Renov 2023	Tenant Chase Bank (GL)
Cap Rate 4.75%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 3,350	Lease Start 12-26-2023	#Units 5,100
Price/SF $722.39	Expiration 12-31-2043	Tenant Type Bank/Financial
NOI $115,000	R. Term 19.7	Ownership Ground Lease
Rent/SF $34.33	Increases 10.0%/5/yrs	Pop 5Mi 152,692
Lot/AC 0.67	Options 4/5yrs/10%	AHHI 5Mi $103,821

Lease Highlights

Brand-new 2023 construction
Chase Bank has 19+ years remaining on the current ground lease term with 4 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Chase Bank is strategically located on Shawnee Mission Parkway, the primary east/west thoroughfare, with access to 35,000 vehicles passing by daily. Its proximity to I-435 on/off ramps, experiencing a traffic count of 76,000 vehicles per day, further enhances accessibility. The property serves as a pad to a Target and Kohl’s anchored shopping center, surrounded by well-known national retailers...

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Key Features

New construction
Near major nationals
Shopping Ctr out-parcel
Top 100 MSA
Strong demographics
Brand new lease
Long 15+ yr lease
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

Chase Bank Wikipedia Chase Bank Wikipedia Shawnee, Kansas Zip Code 66217 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Chase Bank
Guarantor:Corp T and Rated
Company:JPMorgan Chase & Co.
# Units:5,100
Tenant S&P: A-
Moody’s: A1
Stock: NYSE: JPM

About Tenant

JPMorgan Chase Bank, N.A., doing business as Chase, is an American national bank. Founded in 1877, The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000....

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	5,965	58,820	155,949
2023 Total Population :	5,945	57,623	153,079
2023 Employed Civilian Pop :	3,465	32,876	87,017
2023 Total Businesses :	218	1,905	6,702
2023 Average Household Income :	$ 95,864	$ 120,204	$ 111,667
2023 Total Consumer Spending :	$ 230 M	$ 2506 M	$ 6075 M
2023 Median Age :	35	40	38
2023 Total Households :	2,761	24,353	63,232
2023 Pop Age 25+: Bachelor's Degree :	1,347	13,946	34,509
2023 Average Home Value :	$ 411,830	$ 366,305	$ 335,967

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Shawnee Mission Parkway	Lackman Rd	2021	33,647	0.05 mi
Shawnee Mission Parkway	Shawnee Mission Pkwy	2018	33,970	0.07 mi
Maurer Rd	W 65th St	2004	10,640	0.28 mi
Lackman Road	W 65th St	2021	8,716	0.31 mi
Lackman Road	W 64th Ter	2018	8,800	0.32 mi
Lackman Rd	Church Rd	2010	8,525	0.34 mi
Maurer Road	W 67th St	2018	4,410	0.35 mi
West 63rd Street	Swarner Dr	2021	1,125	0.41 mi
Lackman Road	W 71st Ter	2021	8,835	0.43 mi
Shawnee Mission Parkway	Lind Rd	2021	39,530	0.45 mi

Listing Broker

Bill Asher

Hanley Investment Group

Contact

117 Listings
5399 Views
50 Sold

Jeff Lefko

Hanley Investment Group

Contact

115 Listings
5248 Views
54 Sold

Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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