Retail

Chase Bank

10301 SE Stark Street, Portland, OR 97216

Property Details
	
			Price
			$3,000,000
		
			Cap Rate
			5.00%
		
			Proforma Cap Rate
			5.50%
        
			Price/RSF
			$608
		
			Rentable Square Footage (RSF)
			4,932 SF
		
			Site Area
			0.84 Acres
		
			Zoning
			CX

Property Description

Fulcrum Pacific is pleased to market for sale a new construction Chase Bank with a 20-year NNN lease signed in 2021 with 10% rent increases every 5 years. The property totals 4,932 square feet and recently went through a full interior and exterior renovation that was completed in April 2022.

Chase Bank already has strong deposits in this location and is surrounded by numerous other large banking institutions. The property is positioned just off I-205 with 150,000 vehicles per day and located in a prominent retail corridor with immediate surrounding tenants including The Home Depot, Target, Dollar Tree, Bank of America, Wells Fargo, Starbucks, Olive Garden, Red Robin, Burger King, Arby’s, Denny’s, US Bank, Panda Express, and Jack in the Box. The property is also in close proximity to two large Hospitals that drive activity in the retail area.

This offering provides an investor with a hands-off investment backed by one of the strongest tenants in the country and insulated from inflationary pressures due to the NNN lease structure.

Property Highlights

New 20-Year Lease with Scheduled Rent Increases: Chase Bank recently entered into a 20-year NNN lease agreement featuring 10% rent increases every five years. This offers investors a stable and inflation-resistant income stream.
Comprehensive Interior and Exterior Remodel Completed in April 2022: A full renovation of both the interior and exterior of the property was completed in April 2022, reflecting the tenants’ commitment to the location and their long-term intentions.
Robust Annual Banking Deposits: In its first full fiscal year at this location, the FDIC reported an impressive $80 million in deposits for 2023.
Prime Retail Location in Southeast Portland: Strategically positioned immediately off the I-205 exit, in a high-traffic area supported by major retailers like Target and Home Depot, and in proximity to two large Portland area Hospitals.
Strong Banking District: The property is situated in a well-established banking area, surrounded by major institutions such as Bank of America, Wells Fargo, and U.S. Bank.