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552 E Plaza DrMooresville, NC 28115
Chase Bank | Mooresville, NC | 4.85% Cap
Asset ClassRetail
Cap Rate4.95%
Hard Corner (25K VPD) | Abs. NNN - GL | Investment Grade Tenant
overview of deal

Overview

Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of a Chase Bank in Mooresville, NC. The Premises has a 15 year ground lease which commences in January 2025. The Asset is well positioned in a major retail hub of Mooresville and sits at the corner of E Plaza Dr & N Broad St (combined 35,500 VPD).

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Investment Highlights

ATTRACTIVE LEASE FUNDAMENTALS

  • 10% rent increase every 5 years and during options periods
  • Absolute NNN Ground Lease providing no Landlord Responsibilities
  • Five (5) - Five (5) year option periods

INVESTMENT GRADE TENANT

  • Corporate Guaranty from Investment Grade Tenant - JP Morgan has a Market Cap of $360B (NASDAQ: JPM) with over 5,600 locations across the country
  • S&P rating of AA1

CHARLOTTE MSA TAILWINDS

  • Charlotte MSA has added more than 135K people from 2020 to 2023, making it the 5th fastest growing city in the Country
  • Charlotte forecasts a 45.2% job growth over the next 10 years

HIGH PROFILE SITE AT LIGHTED INTERSECTION

  • Positioned on the hard corner of E. Plaza (25K VPD) and N Broad St (10.5K VPD)
  • Accessible right turn off of E. Plaza into a wrap around parking lot

RECENT RENOVATIONS COMPLETED BY TENANT

  • Tenant is renovating the existing building to their newest building prototype

LOCATED IN HIGH TRAFFIC RETAIL CORRIDOR

  • Over 430K SF of Retail Space located in a 1-mile radius, boasting a 0% vacancy rate
  • Nearby Tenants include: Food Lion, McDonalds, KFC, and Dunkin
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552 E Plaza DrMooresville, NC 28115

Sales Team

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Listing provided by Revere CRE