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Bank

NNN Chase Bank

12610 SW 120th St, Miami, FL 33186

Listing Price: $3,933,800

Cap Rate
5.00%
Tenant Name
Chase Bank
Years Remaining On Lease
4.5
Gross SF
4,280
Guarantor
Corporate Guarantee
Rentable SF
4,280
Price/Gross SF
$919.11
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$45.96

Investment Overview

Marcus & Millichap is proud to market the Chase NNN lease bank property located in Kendall (Miami) Florida. The 2004 construction building encompasses 4,280 square feet and is ideally located in the heart of a dense growing Miami-Dade submarket with over 150,000 people living within three miles of the subject property. This is a pad site within the South Kendall Square shopping center that is also anchored by Walgreens, Starbuck’s, Bonefish Grill, T-Mobile and Quest Diagnostics. The bank location has very high annual deposits of over $160 Million and recently exercised their first of four options to renew the property showing their long-term commitment to the site. The lease also includes aggressive 12 percent base rental increases every five years.

Investment Highlights

  • Chase Bank has Occupied the Site since 2005 and Recently Exercised Their First Renewal Option
  • Branch Deposits Over $160 Million
  • Subject Property Has a Perpetual Shared Parking Agreement With the Shopping Center Allowing for Additional Parking

Exclusively Listed By

Listing Price: $3,933,800

Cap Rate
5.00%
Tenant Name
Chase Bank
Years Remaining On Lease
4.5
Gross SF
4,280
Guarantor
Corporate Guarantee
Rentable SF
4,280
Price/Gross SF
$919.11
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$45.96

Investment Highlights

  • Chase Bank has Occupied the Site since 2005 and Recently Exercised Their First Renewal Option
  • Branch Deposits Over $160 Million
  • Subject Property Has a Perpetual Shared Parking Agreement With the Shopping Center Allowing for Additional Parking

Investment Overview

Marcus & Millichap is proud to market the Chase NNN lease bank property located in Kendall (Miami) Florida. The 2004 construction building encompasses 4,280 square feet and is ideally located in the heart of a dense growing Miami-Dade submarket with over 150,000 people living within three miles of the subject property. This is a pad site within the South Kendall Square shopping center that is also anchored by Walgreens, Starbuck’s, Bonefish Grill, T-Mobile and Quest Diagnostics. The bank location has very high annual deposits of over $160 Million and recently exercised their first of four options to renew the property showing their long-term commitment to the site. The lease also includes aggressive 12 percent base rental increases every five years.

Exclusively Listed By

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