Washington D.C. - Chase Bank

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Chase Bank investment property located in Washington D.C.. The tenant, Chase Bank, recently signed a brand new 15-year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The Chase Bank is located at the signalized, high-visibility intersection of MacArthur Blvd NW and Arizona Ave NW, which combine to average nearly 30,000 vehicles passing by daily. This strategic corner location is a gateway to Chain Bridge, the northernmost of the five bridges connecting DC and Virginia. The immediate neighborhoods are some of the wealthiest in the DC region with average household incomes over $440K within a 1-mile radius and median home values ranging from $1.5M - $3M (Palisades, Spring Valley, Wesley Heights). The subject property is surrounded by dense residential and sits on a commercial artery that is lined with both national credit tenants and local family run business and restaurants. Sibley Hospital, American University, and Georgetown University are major institutions surrounding the trade area.

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Listing ID: a28TP000001ksBJYAY