Bank
Chase Bank | 13 Years Remain | Richmond, VA MSA | Replaceable Ground Lease Rent
1361 Huguenot Rd, Midlothian, VA 23113
Listing Price: $3,068,182
Investment Overview
The Tenant, JP Morgan Chase Bank, National Association, has 13 years remaining on a NNN ground lease that commenced in November 2021. The lease features rental increases of 10 percent every five years during the base term and four, five-year option periods, providing a hedge against inflation. The tenant’s rental rate is the lowest of the four recent pad leases executed at this intersection. It is easily replaceable given the high quality of the real estate. This signalized corner parcel is highly visible and accessible to traffic along both Huguenot Road and Koger Center Boulevard.
Bank
Chase Bank | 13 Years Remain | Richmond, VA MSA | Replaceable Ground Lease Rent
Listing Price: $3,068,182
Investment Highlights
- 10 Percent Increases Every 5 Years
- Signalized Corner Parcel to 46,000 VPD
- Out-Parcel to Richmond's Largest Enclosed Shopping Center with 5.6 Million Annual Customer Visits
Investment Overview
The Tenant, JP Morgan Chase Bank, National Association, has 13 years remaining on a NNN ground lease that commenced in November 2021. The lease features rental increases of 10 percent every five years during the base term and four, five-year option periods, providing a hedge against inflation. The tenant’s rental rate is the lowest of the four recent pad leases executed at this intersection. It is easily replaceable given the high quality of the real estate. This signalized corner parcel is highly visible and accessible to traffic along both Huguenot Road and Koger Center Boulevard.
