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Chase Bank 315 Hancock St 2,894 SF 100% Leased Retail Building Quincy, MA 02171 $8,956,436 CAD ($3,094.83 CAD/SF) 5% Cap Rate
Investment Highlights
- Long-Term Lease
- Best-In-Class Credit Tenant
- Outstanding Location
- Attractive Rent Increases
- Ground Lease
- Strong Demographics
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a new construction Chase Bank ground lease located at 315 Hancock Street in Quincy (Boston MSA), Massachusetts (the “Property”). The retail branch, constructed in 2021, consists of a 2,894 square foot building with a dedicated drive-up ATM on a corner parcel. Chase Bank has 10+ years remaining on its Absolute NNN Ground Lease with six (6), five-year renewal options and 10% rent increases every five years throughout the base term and option periods. Chase Bank is situated on a corner parcel at the North Quincy MBTA Station entrance at the signalized intersection of Hancock Street (MA Route 3A) and W Squantum Street. The location is part of an exceptional trade area centered around the North Quincy MBTA Station (with service on the Red Line), with numerous national tenants and retail centers drawing significant traffic to the area. Quincy is an affluent suburb of Boston approximately 5 miles south of the city center.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,894 SF
Building Class
B
Year Built
2021
Price
$8,956,436 CAD
Price Per SF
$3,094.83 CAD
Cap Rate
5%
NOI
$447,822 CAD
Percent Leased
100%
Building Height
1 Story
Building FAR
0.19
Lot Size
0.35 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Finance and Insurance
- -
- -
- -
Chase traces roots to the Bank of the Manhattan Company, founded in 1799, and the Chase National Bank, founded in 1877, later becoming part of JPMorganChase. The company provides consumer banking, credit cards, mortgages, auto financing, small-business banking, commercial banking, and investing and retirement products. Chase serves customers through digital banking and a broad branch and ATM network across the United States, and operates as a major retail banking arm within JPMorganChase.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Finance and Insurance | - | - | - |
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | QUIN-006038-000000-000017 | Improvements Assessment | $7,831,406 CAD |
| Land Assessment | $1,399,619 CAD | Total Assessment | $9,231,025 CAD |
Property Taxes
Parcel Number
QUIN-006038-000000-000017
Land Assessment
$1,399,619 CAD
Improvements Assessment
$7,831,406 CAD
Total Assessment
$9,231,025 CAD
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Chase Bank | 315 Hancock St
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