Chase Bank NNN Property For Sale — Katy, TX
24924 Morton Ranch Road, Katy, TX 77493
This is a prime opportunity to acquire a newly constructed Chase Bank on an absolute NNN ground lease. The property benefits from a best-in-class corporate guaranty from JP Morgan Chase Bank, National Association, a financially strong and globally recognized institution with an S&P rating of "A+". Situated in the rapidly expanding Katy market, part of the Houston MSA, the site is an outparcel to a new H-E-B grocery store and a new 348-unit luxury apartment complex, ensuring high traffic and visibility. The location features a hard, signalized intersection and is surrounded by significant residential development, including new single-family home communities. The lease offers a new 15-year term with attractive 10% rental increases every five years and four 5-year renewal options, providing…
- Address: 24924 Morton Ranch Road, Katy, TX 77493
- Asking price $3.33M
- 4.50% cap rate
- NOI $150,000
- 15 years remaining
- NNN lease
- Year built: 2024
- Rent increases: Years 1-5: $150,000; Years 6-10: $165,000 (10% increase); Years 11-15: $181,500 (10% increase); Option 1 (Years 16-20): $199,650 (10% increase); …
- Guarantor: Corporate
Location
This Chase Bank property is at 24924 Morton Ranch Road in Katy, Texas.
Asset type: Retail