December 21, 2020 – Kyle Danielson and Matt Nadler of Horvath & Tremblay has successfully completed the sale of Chase Bank in Prince Frederick, Maryland. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $5,550,000, a 4.05% Cap Rate.
Chase Bank is located at 55 Stoakley Road in Prince Frederick, Maryland. The newly built retail branch consists of a 3,558 square foot building with a dedicated drive through ATM lane on a 1.39-acre parcel. Chase Bank has a brand-new 20-year ground lease with four, five-year extensions and rent increases of 10% every five years throughout both the base term and extension periods. The Property is located directly across the street from the primary entrance to the Calvert Health Medical Center and is situated on the primary retail corridor. The Property is located on a highly-visible corner parcel at the signalized intersection of Stoakley Road and Solomons Island Road (MD Route 4). The property benefits from strong area demographics and traffic counts in excess of 45,000 vehicles per day at the nearby signalized intersection of Solomons Island Road (40,989 VPD) and Stoakley Road (4,078 VPD).
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.