Chase Bank (GL)

105 South Mullen Road, Belton, MO 64012

$1,889,000

Cap Rate 4.50%

Views: 191 DOM: 230 Updated: 07.08.24 Posted: 10.27.23 Status: Sold 06.13.24

Summary

Price $1,889,000	Built/Renov 2023	Tenant Chase Bank (GL)
Cap Rate 4.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 3,293	Lease Start 10-31-2023	#Units 5,100
Price/SF $573.64	Expiration 10-30-2043	Tenant Type Bank/Financial
NOI $85,000	R. Term 18.9	Ownership Ground Lease
Rent/SF $25.81	Increases 10.0%/5/yrs	Pop 5Mi 65,361
Lot/AC 0.48	Options 4/5yrs/10%	AHHI 5Mi $94,605

Lease Highlights

Brand-new state-of-the-art construction
Chase Bank recently signed a new 20-year ground lease with 4 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the initial term and options
Absolute NNN | Zero landlord responsibilities
Corporately guaranteed lease | Investment grade tenant (S&P: A+)

Location Description

This newly constructed Chase Bank is strategically located at the signalized, hard corner intersection of North Avenue and Mullen Road which sees a combined traffic count of 53,650 VPD. The subject property is located within a highly desirable retail corridor, surrounded by major nationals including Target, Home Depot, Kohl's, and many more. Additionally, it is located near I-49 with 58,350...

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Key Features

New construction
Signalized intersection
High traffic 50M+ VPD
Freeway close
Hospital close
Top 100 MSA
Long 20+ yr lease
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

Chase Bank Wikipedia Chase Bank Wikipedia Belton, Missouri Zip Code 64012 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 :	6,798	48,018	68,650
2023 Total Population :	6,193	45,913	66,749
2023 Employed Civilian Pop :	3,069	22,797	33,145
2023 Total Businesses :	346	1,033	1,441
2023 Average Household Income :	$ 84,435	$ 101,950	$ 101,677
2023 Total Consumer Spending :	$ 186 M	$ 1601 M	$ 2281 M
2023 Median Age :	36	37	38
2023 Total Households :	2,531	18,164	26,011
2023 Pop Age 25+: Bachelor's Degree :	660	6,103	9,115
2023 Average Home Value :	$ 159,261	$ 253,009	$ 269,620

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Mullen Rd	Larkspur Cir	2003	3,580	0.13 mi
E North Ave	S Mullen Rd	2019	31,477	0.15 mi
East North Avenue	Apple Valley Pkwy	2022	17,267	0.15 mi
S Mullen Rd	Minnie Ave	2003	6,690	0.19 mi
US Hwy 71	E 171st St	2014	54,122	0.32 mi
South Outer Road	E 171st St	2022	2,060	0.34 mi
	E 171st St	2022	15,790	0.35 mi
S Outer Rd	S Mullen Rd	2019	31,893	0.41 mi
	E 171st St	2022	15,429	0.43 mi
	E 171st St	2022	6,251	0.46 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
34875 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
36250 Views
23 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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