Chase Bank Ground Lease
30500 US-19, Palm Harbor, Florida 34684
$3,157,895
Property Details
Property Type
Improved property
Building Type
Freestanding
Building Size
4,242 sqft
Land Size
1.4 acres
Zoning
Commercial Parkway
Year Built
2012
Property Description
Freestanding Chase Bank branch on an absolute NNN ground lease, one of the strongest credit tenants in America. The tenant carries all taxes, insurance, maintenance -- including roof and structure. The branch sits at US Hwy 19 and Curlew Road, one of the busiest intersections in Pinellas County. The lease, which expires in 2031, carries 4 five-year options at 10% increases at each renewal. NOI of $150,000 annually produces a 4.75% cap rate.