Chase Bank | New 15yr Corp NNN | 442 Baseline St
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Chase Bank | New 15yr Corp NNN 442 Baseline St
3,000 SF Retail Building Cornelius, OR 97113 $3,000,000 ($1,000/SF) 4.50% Cap Rate
Investment Highlights
- Brand New 15-Year Lease | Scheduled Rental Increases | Options To Extend | Publicly-Traded Company (NYSE: JPM)
- Walmart Supercenter (166,000+ SF) | Strong National/Credit Tenant Presence
- NNN Lease | Leased Fee Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in a NNN leased, Chase Bank investment property located in Cornelius, Oregon. The tenant, JPMorgan Chase Bank, recently signed a brand new 15-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and scheduled increases of 10% or more at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. The property is scheduled to open in April 2025.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
3,000 SF
Building Class
B
Year Built
2025
Construction Status
Under Construction
Price
$3,000,000
Price Per SF
$1,000
Cap Rate
4.50%
NOI
$135,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.68 AC
Zoning
C-2 - Highway Commercial
Parking
20 Spaces (6.67 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Freeway Visibility
- Signage
- Signalized Intersection
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Chase Bank
- Finance and Insurance
-
99,999 SF
- -
-
Lorem Ipsum
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Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Chase Bank | Finance and Insurance | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Walk Score ®
Very Walkable (74)
Bike Score ®
Very Bikeable (72)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R0751494 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $204,300 |
PROPERTY TAXES
Parcel Number
R0751494
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$204,300
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Chase Bank | New 15yr Corp NNN | 442 Baseline St
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