Chase Bank - Charlotte, NC | 3128 Providence S rd
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Chase Bank - Charlotte, NC 3128 Providence S rd
3,490 SF 100% Leased Retail Building Waxhaw, NC 28173 £2,226,567 (£638/SF) 4.50% Net Initial Yield
Investment Highlights
- STRONG LEASE FUNDAMENTALS
- INVESTMENT GRADE TENANT
- AFFLUENT CHARLOTTE SUBMARKET
Executive Summary
STRONG LEASE FUNDAMENTALS
- 10% rent increase every 5 years and during options periods
- Absolute NNN Ground lease providing no Landlord Responsibilities
- Five (5) - Five (5) year option periods
INVESTMENT GRADE TENANT
- Corporate Guaranty from Investment Grade Tenant - JP Morgan has a Market Cap of $602B (NASDAQ: JPM) with over 5,600 locations across the country
S&P rating of AA1
HIGH GROWTH TOWN OF WAXHAW
- The town of Waxhaw is growing at a rate of 3.31% annually and has doubled in population from 2010-2020
- There are over 3,000 residential units under construction in the town
LOCATED IN DENSE RETAIL NODE
- Over 411K SF of Retail Space located in a 1-mile radius, boasting an average market asking rent of $30.69/SF and over 24.8K of absorption in TTM
- Nearby Tenants include: Harris Teeter, Walmart Neighborhood Market, Lowes Home Improvement, and much more
AFFLUENT CHARLOTTE SUBMARKET
- Approximately 35 minutes to center city Charlotte
- 30 Miles to Charlotte-Douglas International Airport
- 1,3, and 5 mile radius AHHI exceeds $160K
A TOP PERFORMING MARKET NATIONALLY
- Charlotte, NC ranked #5 in 2022 of best residential markets (Rocket Mortgage)
- Charlotte forecasts a 45.2% job growth over the next 10 years (4.6% growth from 2021 to 2022)
- 5th fastest growing city from 2021 to 2022 (population change: 15,217)
- 10% rent increase every 5 years and during options periods
- Absolute NNN Ground lease providing no Landlord Responsibilities
- Five (5) - Five (5) year option periods
INVESTMENT GRADE TENANT
- Corporate Guaranty from Investment Grade Tenant - JP Morgan has a Market Cap of $602B (NASDAQ: JPM) with over 5,600 locations across the country
S&P rating of AA1
HIGH GROWTH TOWN OF WAXHAW
- The town of Waxhaw is growing at a rate of 3.31% annually and has doubled in population from 2010-2020
- There are over 3,000 residential units under construction in the town
LOCATED IN DENSE RETAIL NODE
- Over 411K SF of Retail Space located in a 1-mile radius, boasting an average market asking rent of $30.69/SF and over 24.8K of absorption in TTM
- Nearby Tenants include: Harris Teeter, Walmart Neighborhood Market, Lowes Home Improvement, and much more
AFFLUENT CHARLOTTE SUBMARKET
- Approximately 35 minutes to center city Charlotte
- 30 Miles to Charlotte-Douglas International Airport
- 1,3, and 5 mile radius AHHI exceeds $160K
A TOP PERFORMING MARKET NATIONALLY
- Charlotte, NC ranked #5 in 2022 of best residential markets (Rocket Mortgage)
- Charlotte forecasts a 45.2% job growth over the next 10 years (4.6% growth from 2021 to 2022)
- 5th fastest growing city from 2021 to 2022 (population change: 15,217)
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,490 SF
Year Built
2024
Price
£2,226,567
Price Per SF
£638
Net Initial Yield
4.50%
NOI
£100,188
Percent Leased
100%
Number of Floors
1
Nearby Major Retailers
1 of 6
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Chase Bank - Charlotte, NC | 3128 Providence S rd
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