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Chase Bank 3600 Bardstown Rd

3,176 SF Retail Building Louisville, KY 40218 £2,939,825 (£926/SF) 6% Net Initial Yield

Investment Highlights

  • Positioned within the Louisville MSA
  • Early 10-year lease extension through October 2036
  • NNN– no landlord responsibilities
  • JP Morgan Chase is an investment grade rated tenant – S&P: A+
  • Multi-decade operating history
  • Outparcel in a Lowe’s anchored shopping center

Executive Summary

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Chase Bank located in Louisville, Kentucky. Chase Bank has an operating history that spans multiple decades at this location. Chase Bank has further demonstrated their commitment by signing an early 10-year lease extension that extends the lease through October 2036. JP Morgan Chase is an investment grade rated tenant, rated A+ by Standard & Poor’s.
The 3,176 square-foot building benefits from its position along Bardstown Road (50,000+ VPD) and proximity to Interstate 264 which hosts over 182,000 vehicles per day. The subject property is located on an outparcel of a shopping center anchored by Lowe’s Home Improvement, Target, and Walmart Supercenter. Retailers occupying the neighboring shopping centers include Costco, Burlington, Kroger, Walgreens, Harbor Freight, and several others. The property is also located 20 minutes southeast of downtown Louisville and blocks from Seneca High school which hosts over 1,250 students. There are over 253,000 people living within a five-mile radius where the average household income is $94,633.
Chase Bank, the U.S. consumer and commercial banking arm of JPMorgan Chase & Co. (NYSE: JPM), is an integral component of a leading global financial services firm with operations spanning over 60 countries and $2.6 trillion in assets. Founded in 1799 as the Bank of the Manhattan Company, Chase boasts a rich heritage steeped in financial innovation and service excellence. Today, it serves millions of customers nationwide, with over 4,700 branches and 16,000 ATMs, making it one of the largest banking institutions in the United States.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
3,176 SF
Building Class
C
Year Built
1975
Price
£2,939,825
Price Per SF
£926
Net Initial Yield
6%
NOI
£176,389
Tenancy
Single
Number of Floors
1
Building FAR
0.08
Land Acres
0.95 AC
Zoning
C2-COMMERC
Parking
25 Spaces (7.87 Spaces per 1,000 SF Leased)

Amenities

  • Freeway Visibility
  • Pylon Sign
  • Signalised Intersection
  • Drive Thru

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Finance and Insurance
  • -
  • -
  • Oct 2036

Chase Bank is proud to serve millions of people with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with trillions of dollars in assets and operations worldwide.

Tenant Industry SF OCCUPIED RENT/SF Lease End
Finance and Insurance - - Oct 2036

Nearby Major Retailers

Starbucks
PNC Bank
Truist
U.S. Bank
Kroger
Fifth Third Bank
Chili's Grill & Bar
Tumbleweed
WW
Bestway Rent To Own

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 2069005B0000
  • 2069005A0000
Land Assessment
£611,428
Improvements Assessment
£154,115
Total Assessment
£765,543
  • Listing ID: 31781770

  • Date on Market: 13/05/2024

  • Last Updated:

  • Address: 3600 Bardstown Rd, Louisville, KY 40218

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