Chase Bank
Ambler, PA
The Opportunity
Summary
- Price $4,428,571
- Cap Rate 3.50%
- NOI $155,000
- Lease Type NNN Ground Lease
- Building Size 3,391 SF
- Year Built 2021
- Remaining Lease Term 15 Years
- Options Two (2), Five (5) Year Options and One (1), Fifty-Four (54) Month Option
Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Chase Bank, (the “Property”) in Ambler, PA, a suburb of Philadelphia. JPMorgan Chase Bank, N.A., doing business as Chase Bank, offers an investment grade credit rating of A+ (S&P) with a positive outlook. JP Morgan Chase & Co. currently sits as the largest financial institution in the United States with approximately $3.39 trillion in assets under management. Chase Bank began their brand new 15-year lease, which calls for ten percent (10%) increases every five (5) years, in November of 2021. The NNN ground lease allows for passive ownership from anywhere. Chase Bank is located in Downtown Ambler, a very walkable, social, cultural and business center with over twenty (20) restaurants and over twenty-five (25) retailer destinations. The property is strategically located on the fully signalized intersection of Butler Avenue and Maple Avenue, directly adjacent to the Ambler Train Station, which is a part of the Lansdale/Doylestown Line that averages over 16,000 weekday passengers. Sitting directly next to the Ambler Train Station was the influential factor for Chase Bank while they were determining which site would be their next location in the Philadelphia MSA.