Chase Bank - Mooresville, NC | 552 E Plaza Dr
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Chase Bank - Mooresville, NC 552 E Plaza Dr
2,604 SF Retail Building Mooresville, NC 28115 £2,231,292 (£857/SF) 4.95% Net Initial Yield
Investment Highlights
- ATTRACTIVE LEASE FUNDAMENTALS
- INVESTMENT GRADE TENANT
- HIGH PROFILE SITE AT LIGHTED INTERSECTION
Executive Summary
ATTRACTIVE 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 $360B (NASDAQ: JPM) with over 5,600 locations across the country
- S&P rating of AA1
CHARLOTTE MSA TAILWINDS
- Charlotte MSA has added more than 135K people from 2020 to 2023, making it the 5th fastest growing city in the Country
- Charlotte forecasts a 45.2% job growth over the next 10 years
HIGH PROFILE SITE AT LIGHTED INTERSECTION
- Positioned on the hard corner of E. Plaza (25K VPD) and N Broad St (10.5K VPD)
- Accessible right turn off of E. Plaza into a wrap around parking lot
RECENT RENOVATIONS COMPLETED BY TENANT
- Tenant is renovating the existing building to their newest building prototype
LOCATED IN HIGH TRAFFIC RETAIL CORRIDOR
- Over 430K SF of Retail Space located in a 1-mile radius, boasting a 0% vacancy rate
- Nearby Tenants include: Food Lion, McDonalds, KFC, and Dunkin
- 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 $360B (NASDAQ: JPM) with over 5,600 locations across the country
- S&P rating of AA1
CHARLOTTE MSA TAILWINDS
- Charlotte MSA has added more than 135K people from 2020 to 2023, making it the 5th fastest growing city in the Country
- Charlotte forecasts a 45.2% job growth over the next 10 years
HIGH PROFILE SITE AT LIGHTED INTERSECTION
- Positioned on the hard corner of E. Plaza (25K VPD) and N Broad St (10.5K VPD)
- Accessible right turn off of E. Plaza into a wrap around parking lot
RECENT RENOVATIONS COMPLETED BY TENANT
- Tenant is renovating the existing building to their newest building prototype
LOCATED IN HIGH TRAFFIC RETAIL CORRIDOR
- Over 430K SF of Retail Space located in a 1-mile radius, boasting a 0% vacancy rate
- Nearby Tenants include: Food Lion, McDonalds, KFC, and Dunkin
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,604 SF
Building Class
C
Year Built/Renovated
1973/2024
Price
£2,231,292
Price Per SF
£857
Net Initial Yield
4.95%
NOI
£110,460
Tenancy
Single
Number of Floors
1
Building FAR
0.06
Land Acres
0.95 AC
Zoning
HB
Parking
33 Spaces (12.67 Spaces per 1,000 SF Leased)
Frontage
227 ft on East Plaza Drive
Amenities
- Banking
- Dedicated Turn Lane
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Chase Bank
- Finance and Insurance
- 2,604 SF
- -
- Triple Net
- Jan 2039
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Chase Bank | Finance and Insurance | 2,604 SF | - | Triple Net | Jan 2039 |
PROPERTY TAXES
| Parcel Number | 4667-18-5263.000 | Improvements Assessment | £423,035 |
| Land Assessment | £290,329 | Total Assessment | £713,363 |
PROPERTY TAXES
Parcel Number
4667-18-5263.000
Land Assessment
£290,329
Improvements Assessment
£423,035
Total Assessment
£713,363
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David Hoppe -
Mike Lucier -
Ben Olmstead -
Atlantic Capital Partners
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Chase Bank - Mooresville, NC | 552 E Plaza Dr
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