Skip to main content

Bank

Chase Bank

421 Alta Mere Dr, Fort Worth, TX 76114

Listing Price: $3,130,000

Cap Rate
6.21%
Tenant Name
Chase Bank
Years Remaining On Lease
4.2
Gross SF
4,520
Guarantor
Corporate Guarantee
Rentable SF
4,520
Price/Gross SF
$692.48
Lease Type
NNN Ground Lease
Rent Per Square Feet
$44.17

Investment Overview

The subject property is a freestanding Chase Bank situated on a large pad within the Westover Village shopping center. This center is anchored by Party City, Petco and Half Price Books with other pad sites occupied by Panda Express, McDonald’s, Arby’s and Take 5 Oil. Westover Village is adjacent to the Ridgemar Town Square that is anchored by national retailers such as Target, Burlington, Harbor Freight Tools, Big Lots, Jo-Ann and Five Below. Directly across the street from this Chase Bank are Wal Mart, Sam’s Club and Lowe’s Home Improvement who helps generate a lot of traffic to this trade area.
Alta Mere Drive is a main thoroughfare in Fort Worth, with this Chase Bank located 5 miles from downtown Fort Worth, and 25 miles southwest of DFW International Airport.
Area demographics are attractive with a reported 82,526 residents within a 3-mile radius and Average Household Income of $100,645 within this same radius. The Shady Oaks Country Club & Golf Course and Hawks Creek Golf Club are located less than ¼ mile away from the subject property.
Newly constructed in 2009, there are approximately 4.5 years remaining on the corporate ground lease that provides 10% fixed rent increases every 5 years. This Chase Bank is equipped with 4 automobile ATM windows. Bank branch deposits at this Chase Bank is reported at $120 million.
Chase Bank is one of the largest and most well-known banks in the United States. It is a subsidiary of JPMorgan Chase & Co. (NYSE:JPM), a global financial services firm headquartered in New York City. Founded in 1799, there are over 4,787Chase Bank branches in the United States. www.chase.com

Investment Highlights

  • Pride of Ownership property
  • Over 4 years remaining on corporate backed ground lease
  • 10% fixed rent increases every 5 year option period
  • Outparcel to Westover Village shopping center
  • Strong Bank branch deposits reported at $120 million

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Listing Price: $3,130,000

Cap Rate
6.21%
Tenant Name
Chase Bank
Years Remaining On Lease
4.2
Gross SF
4,520
Guarantor
Corporate Guarantee
Rentable SF
4,520
Price/Gross SF
$692.48
Lease Type
NNN Ground Lease
Rent Per Square Feet
$44.17

Investment Highlights

  • Pride of Ownership property
  • Over 4 years remaining on corporate backed ground lease
  • 10% fixed rent increases every 5 year option period
  • Outparcel to Westover Village shopping center
  • Strong Bank branch deposits reported at $120 million

Investment Overview

The subject property is a freestanding Chase Bank situated on a large pad within the Westover Village shopping center. This center is anchored by Party City, Petco and Half Price Books with other pad sites occupied by Panda Express, McDonald’s, Arby’s and Take 5 Oil. Westover Village is adjacent to the Ridgemar Town Square that is anchored by national retailers such as Target, Burlington, Harbor Freight Tools, Big Lots, Jo-Ann and Five Below. Directly across the street from this Chase Bank are Wal Mart, Sam’s Club and Lowe’s Home Improvement who helps generate a lot of traffic to this trade area. Alta Mere Drive is a main thoroughfare in Fort Worth, with this Chase Bank located 5 miles from downtown Fort Worth, and 25 miles southwest of DFW International Airport. Area demographics are attractive with a reported 82,526 residents within a 3-mile radius and Average Household Income of $100,645 within this same radius. The Shady Oaks Country Club & Golf Course and Hawks Creek Golf Club are located less than ¼ mile away from the subject property. Newly constructed in 2009, there are approximately 4.5 years remaining on the corporate ground lease that provides 10% fixed rent increases every 5 years. This Chase Bank is equipped with 4 automobile ATM windows. Bank branch deposits at this Chase Bank is reported at $120 million. Chase Bank is one of the largest and most well-known banks in the United States. It is a subsidiary of JPMorgan Chase & Co. (NYSE:JPM), a global financial services firm headquartered in New York City. Founded in 1799, there are over 4,787Chase Bank branches in the United States. www.chase.com

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

MM Texture Background
MM Textured Background Lower