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2943 Richland Ave 4,789 SF Retail Building Louisville, KY 40220 $2,827,586 ($590.43/SF) 5.80% Cap Rate
Investment Highlights
- $119,000,000+ branch deposits at this location in 2025
- Positioned within the Louisville MSA – Ranked #43 in the United States for population size
- CPI-based rental escalations every five years with no cap
- Investment grade rated tenant (S&P: AA-)
- NNN ground lease – no landlord responsibilities
- Two 10-year renewal options
Executive Summary
The Boulder Group is pleased to exclusively market for sale a single tenant NNN ground leased Chase Bank located in Louisville, Kentucky. The property has been in continuous operation since 2004 and is secured by a long-term 30-year lease running through 2034, featuring CPI-based rent escalations every five years (with no cap) throughout the primary term, along with two 10-year renewal options. Annual deposits at this branch surpassed $119,000,000 in 2025, according to the FDIC. Chase Bank is an investment-grade tenant rated “AA–” by Standard & Poor’s.
The 4,789-square foot property is situated just off Taylorsville Boulevard (32,000 VPD) and Breckenridge Lane (37,000 VPD) with convenient access to Interstate 264 (166,000 VPD) and Interstate 64 (128,000 VPD) further amplifying the site’s regional accessibility. The surrounding area comprises a dense retail corridor anchored by a strong mix of nationally recognized tenants including Kroger, TJ Maxx, HomeGoods, Starbucks, McDonald’s, Walgreens, CVS, and Goodwill, among many others. Nearby demand drivers such as Norton Children’s Medical Group and Advanced ENT generate consistent daily traffic to the immediate trade area. The property is further supported by a robust consumer base of over 249,000 residents within a five-mile radius, with average household incomes exceeding $106,000.
JPMorgan Chase Bank, N.A., is the consumer and commercial banking subsidiary of JPMorgan Chase & Co., one of the world’s largest and oldest financial institutions. Tracing its roots to 1799 with the founding of the Manhattan Company in New York City, the modern entity emerged from the 2000 merger of J.P. Morgan & Co. and Chase Manhattan Corporation, combining centuries of heritage from predecessor firms like Chase National Bank (founded 1877) and others. As of early 2026, JPMorgan Chase & Co. reports $4.8 trillion in assets under management (AUM) across its Asset & Wealth Management division, alongside total firmwide client assets exceeding $7 trillion and balance sheet assets of approximately $4.4 trillion as of late 2025.
The 4,789-square foot property is situated just off Taylorsville Boulevard (32,000 VPD) and Breckenridge Lane (37,000 VPD) with convenient access to Interstate 264 (166,000 VPD) and Interstate 64 (128,000 VPD) further amplifying the site’s regional accessibility. The surrounding area comprises a dense retail corridor anchored by a strong mix of nationally recognized tenants including Kroger, TJ Maxx, HomeGoods, Starbucks, McDonald’s, Walgreens, CVS, and Goodwill, among many others. Nearby demand drivers such as Norton Children’s Medical Group and Advanced ENT generate consistent daily traffic to the immediate trade area. The property is further supported by a robust consumer base of over 249,000 residents within a five-mile radius, with average household incomes exceeding $106,000.
JPMorgan Chase Bank, N.A., is the consumer and commercial banking subsidiary of JPMorgan Chase & Co., one of the world’s largest and oldest financial institutions. Tracing its roots to 1799 with the founding of the Manhattan Company in New York City, the modern entity emerged from the 2000 merger of J.P. Morgan & Co. and Chase Manhattan Corporation, combining centuries of heritage from predecessor firms like Chase National Bank (founded 1877) and others. As of early 2026, JPMorgan Chase & Co. reports $4.8 trillion in assets under management (AUM) across its Asset & Wealth Management division, alongside total firmwide client assets exceeding $7 trillion and balance sheet assets of approximately $4.4 trillion as of late 2025.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Bank
Building Size
4,789 SF
Building Class
C
Year Built
2004
Price
$2,827,586
Price Per SF
$590.43
Cap Rate
5.80%
NOI
$164,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.91 AC
Zoning
C1-COMMERC
Parking
26 Spaces (5.81 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Pylon Sign
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Finance and Insurance
- -
- $34.23
- Triple Net
- Jan 2034
JPMorganChase traces its roots to a bank founded in 1799 and later grew through major mergers involving Chase Manhattan Bank and J.P. Morgan & Co. The company now operates across consumer and community banking, commercial banking, corporate and investment banking, and asset and wealth management. Chase serves millions of customers, small businesses, and institutional clients, with a broad presence in the United States and in global markets.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Finance and Insurance | - | $34.23 | Triple Net | Jan 2034 |
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 089C01940000 | Improvements Assessment | $3,204,470 |
| Land Assessment | $766,040 | Total Assessment | $3,970,510 |
Property Taxes
Parcel Number
089C01940000
Land Assessment
$766,040
Improvements Assessment
$3,204,470
Total Assessment
$3,970,510
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