Chase Bank | Strong Deposits | Absolute NNN 149 Amity Rd 4,120 SF Retail Building New Haven, CT 06515 $5,060,000 ($1,228.16/SF) 5.50% Cap Rate

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a Chase Bank ground lease located at 149 Amity Road in New Haven, Connecticut (the “Property”). Chase Bank has occupied this location since it was constructed in 2013; the Property is improved by a 4,120 square foot building with three (3) drive-thru lanes on a corner parcel. Chase Bank has 6+ years remaining on their Absolute NNN Ground Lease with four (4), five-year renewal options. The Lease call for attractive 10% rent increases every five years throughout the base term and at the start of each renewal option period.
The Property is positioned at 149 Amity Road in New Haven's desirable Westville submarket, a densely populated and affluent area that serves as a key residential and commercial corridor for western New Haven and neighboring communities. Located near the intersection of Amity Road (Route 63) and Whalley Avenue (Route 243), the Property benefits from convenient access to major regional thoroughfares, including the Wilbur Cross Parkway (Route 15), Interstate 95, and Interstate 91, providing excellent connectivity throughout the Greater New Haven region.
The surrounding area is supported by a diverse economic base anchored by Yale University and Yale New Haven Hospital, two of Connecticut's largest employers, as well as a substantial concentration of healthcare providers, educational institutions, professional services firms, and research organizations. The Property is also within close proximity to numerous public and private schools and benefits from a large population of students, faculty, healthcare professionals, and area residents. As the economic and educational hub of south-central Connecticut, New Haven attracts a highly educated workforce and a broad base of consumers, creating strong demand for retail banking, lending, wealth management, and business banking services.
The combination of dense surrounding neighborhoods, strong household incomes, excellent transportation access, and proximity to major employment and educational centers makes this an outstanding location for Chase Bank and supports long-term branch performance within one of Connecticut's most established and economically vibrant markets.