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2943 Richland Avenue - Chase Bank, Louisville, KY

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2943 Richland Avenue - Chase Bank

Louisville, KY 40220-1456 - St Matthews Submarket


Property Type:Retail Sub Type:Bank Status:Existing Year Built:-
Building Size:4,789 SF Land Area:.94 AC (40,946 SF)
For Sale Price:$3,856,941 Price/SF:$805.38
Cap Rate:4.25 %
Parking:Free Surface spaces are available; Ratio of 5.81/1,000 SF
Features:Freeway Visibility, Pylon Sign, Drive Thru



Sale Notes:
Long Term NNN Ground Lease
100% Fee Simple Interest
S&P Rated A+ Credit Investment Grade - NYSE: JPM
Zero Landlord Obligations
Scheduled Increases in Rent
Well Situated at a Major Commercial Thoroughfare
Description
This is a rare JP Morgan Chase Bank fee simple absolute NNN ground lease in Louisville, KY. The ground lease calls for zero landlord obligations. The 100% fee simple interest in the underlying land is being offered. The lease calls for CPI rental increases every 5 years. There are two 10 year options to renew. The building includes a drive-thru. The asset is well situated on a high traffic thoroughfare surrounded by major retailers including Kroger Supermarket, TJ Maxx, Starbucks and Walgreens.
Louisville is the largest city in the Commonwealth of Kentucky and the 30th-most populous city in the United States. It is one of two cities in Kentucky designated as first-class, with the other being the state' s second-largest city of Lexington. Louisville is the historical seat and, since 2003, the nominal seat of Jefferson County. The Louisville-Jefferson County, KY-IN Metropolitan Statistical Area (MSA), sometimes also referred to as Kentuckiana, includes Louisville-Jefferson County and 12 surrounding counties, seven in Kentucky and five in Southern Indiana. As of 2014, the MSA had a population of 1,269,702, ranking 44th nationally.

SVN The Kase Group
Jacob Abusharkh
(925) 231-1770




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