Bank
Chase Bank Ground Lease
6225 Stellhorn Rd, Fort Wayne, IN 46815
Listing Price: $1,118,000
Investment Overview
Chase Bank Absolute Triple-Net Ground Lease with 5.75 Years Remaining in Fort Wayne, Indiana. Bite-Size Deal: Cheap $67K Ground Rent, Low $1 Million Price Point. Strong Deposits of $175 Million as of June 2022 – Up 50 Percent in Trailing Five Years and 30 Percent in Trailing Three Years; Averaging Double-Digit Deposit Growth Year-Over-Year. Outparcel to Target-Anchored Northwood Plaza with Pet Supplies Plus, Dollar Tree, Penn Station, SportClips, GameStop, USPS, and More. Strong Intrinsic Value in the Site: Prime 0.785- Acre Outparcel on Major Arterial, Directly Adjacent to Target Along Signalized Entrance. Strong Traffic Counts of 19,329 Vehicles per Day on Maplecrest Road; Just North of Major Signalized Intersection at Stellhorn Road with a Combined 35,961 Vehicles per Day. Convenience-Oriented Neighborhood Location – Situated Near Intersection of the Area’s Two Primary Arterials Amongst Retail Pocket with Big Lots, Planet Fitness, McDonald’s, Pizza Hut, Advance Auto, Culver’s, Walgreens, Burger King, Fazoli’s, Taco Bell, KFC, Rally’s, Goodyear, Arby’s, Verizon, and More.
Chase Bank Ground Lease
Investment Highlights
- Chase Bank Absolute Triple-Net Ground Lease with 5.75 Years Remaining in Fort Wayne, Indiana
- Year One CAP of 6 Percent; 2027 CAP of 6.6 Percent with Rent Increase in Base Term
- Tenant Since 1975 – 50 Plus Years of Tenancy with History of Five Renewals, All at Increasing Rents
- Recently Exercised Option Extending Term to 12/31/2031 on New Rent
- Strong Deposits of $175 Million as of June 2022 – Up 50 Percent in Trailing Five Years and 30 Percent in Trailing Three Years; Averaging Double-Digit Deposit Growth Year-Over-Year
- True Absolute Triple-Net Ground Lease – Zero Landlord Responsibilities
Listing Price: $1,118,000
Investment Highlights
- Chase Bank Absolute Triple-Net Ground Lease with 5.75 Years Remaining in Fort Wayne, Indiana
- Year One CAP of 6 Percent; 2027 CAP of 6.6 Percent with Rent Increase in Base Term
- Tenant Since 1975 – 50 Plus Years of Tenancy with History of Five Renewals, All at Increasing Rents
- Recently Exercised Option Extending Term to 12/31/2031 on New Rent
- Strong Deposits of $175 Million as of June 2022 – Up 50 Percent in Trailing Five Years and 30 Percent in Trailing Three Years; Averaging Double-Digit Deposit Growth Year-Over-Year
- True Absolute Triple-Net Ground Lease – Zero Landlord Responsibilities
Investment Overview
Chase Bank Absolute Triple-Net Ground Lease with 5.75 Years Remaining in Fort Wayne, Indiana. Bite-Size Deal: Cheap $67K Ground Rent, Low $1 Million Price Point. Strong Deposits of $175 Million as of June 2022 – Up 50 Percent in Trailing Five Years and 30 Percent in Trailing Three Years; Averaging Double-Digit Deposit Growth Year-Over-Year. Outparcel to Target-Anchored Northwood Plaza with Pet Supplies Plus, Dollar Tree, Penn Station, SportClips, GameStop, USPS, and More. Strong Intrinsic Value in the Site: Prime 0.785- Acre Outparcel on Major Arterial, Directly Adjacent to Target Along Signalized Entrance. Strong Traffic Counts of 19,329 Vehicles per Day on Maplecrest Road; Just North of Major Signalized Intersection at Stellhorn Road with a Combined 35,961 Vehicles per Day. Convenience-Oriented Neighborhood Location – Situated Near Intersection of the Area’s Two Primary Arterials Amongst Retail Pocket with Big Lots, Planet Fitness, McDonald’s, Pizza Hut, Advance Auto, Culver’s, Walgreens, Burger King, Fazoli’s, Taco Bell, KFC, Rally’s, Goodyear, Arby’s, Verizon, and More.
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