Chase Bank - Troy, MI_Property for Sale
Chase Bank - Troy, MI_Property for Sale
260 John R Rd, Troy, MI, 48083, US

Chase Bank - Troy, MI

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in a freestanding single-tenant Chase Bank located at 260 John R Road in Troy, Michigan (“Property” or “Asset”).

This Asset features an investment grade corporate guaranty from JPMorgan Chase Bank (S&P: ‘A-’) and is operating on a 50-year absolute triple net lease with zero landlord responsibilities and one, five-year renewal option. Notably, the Tenant reported $233.5M in deposits in 2022, which represents an outstanding 51% deposit growth since 2017.

Located 20 miles northeast of downtown Detroit, the Property is positioned in a highly affluent city with access to over 300,000 residents in a five-mile radius. This Chase Bank branch sits as an outparcel to Oakland Plaza, a big box shopping center that drives approximately 1.5 million visits annually. Adjacent is Oakland Mall, a super-regional shopping center boasting 1.5 million square feet of retail space that drives 4.1 million visits annually. Oakland Mall is the #3 most visited shopping mall locally with anchors including Macy’s, JCPenney, Dick’s Sporting Goods, At Home, and Hobby Lobby.

This rare opportunity allows investors the ability to acquire a high performing bank branch located in a fundamentally strong and affluent Detroit suburb. The asset offers secure, long-term cash flow backed by one of the world’s largest financial institutions. 



Building area net
3,303 sf
Year built
Cap rate
Asking price


Investment highlights

  • 100% corporate guaranteed by JPMorgan Chase Bank, which operates 4,790+ bank branches and boasts an outstanding investment grade credit rating (S&P: A-).
  • Initially constructed in 1978, JPMorgan Chase has a proven commitment to the site with 45+ years of operating history with over $233M in deposits.
  • 4.4 years of absolute NNN lease term, zero landlord responsibilities, and one, five-year renewal option offers secure long-term cash flow.
  • Ideally positioned along a high trafficked roadway of 87,000+ VPD with access to 300,000 residents in a 5-mile radius.
  • Highly affluent resident-base that earns $108,000 in average household income in a 5-mile radius.
Chase Bank - Troy, MI 4_Property for Sale
Chase Bank - Troy, MI 4_Property for Sale

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Chase Bank - Troy, MI (0 Properties)

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Last updated
Mar 21, 2024