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315 Hancock St
Quincy, MA 02171
Chase Bank · Retail Property For Sale
Investment Highlights
- Long-Term Lease
- Best-In-Class Credit Tenant
- Outstanding Location
- Attractive Rent Increases
- Ground Lease
- Strong Demographics
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a new construction Chase Bank ground lease located at 315 Hancock Street in Quincy (Boston MSA), Massachusetts (the “Property”). The retail branch, constructed in 2021, consists of a 2,894 square foot building with a dedicated drive-up ATM on a corner parcel. Chase Bank has 10+ years remaining on its Absolute NNN Ground Lease with six (6), five-year renewal options and 10% rent increases every five years throughout the base term and option periods. Chase Bank is situated on a corner parcel at the North Quincy MBTA Station entrance at the signalized intersection of Hancock Street (MA Route 3A) and W Squantum Street. The location is part of an exceptional trade area centered around the North Quincy MBTA Station (with service on the Red Line), with numerous national tenants and retail centers drawing significant traffic to the area. Quincy is an affluent suburb of Boston approximately 5 miles south of the city center.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,894 SF
Building Class
B
Year Built
2021
Price
$6,380,000
Price Per SF
$2,204.56
Cap Rate
5%
NOI
$319,000
Percent Leased
100%
Building Height
1 Story
Building FAR
0.19
Lot Size
0.35 AC
Property Taxes
| Parcel Number | QUIN-006038-000000-000017 | Improvements Assessment | $5,578,600 |
| Land Assessment | $997,000 | Total Assessment | $6,575,600 |
Property Taxes
Parcel Number
QUIN-006038-000000-000017
Land Assessment
$997,000
Improvements Assessment
$5,578,600
Total Assessment
$6,575,600
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