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NNN Chase Bank for Sale
Chase is the consumer bank behind JPMorgan Chase & Co., which reported $15.3 billion of net income in the third quarter of 2026 (Form 8-K, October 13, 2026) and operated 5,164 branches at the end of that quarter (financial supplement). For an investor, a Chase branch means a single tenant, a long lease and scheduled rent increases. This page covers how those leases are typically structured, where asking cap rates sit and what to confirm before you buy.
Market reports from The Boulder Group and Matthews describe Chase leases as ground leases or triple net, depending on the source, so the first question on any property is who is responsible for the roof and structure. If you are considering a 1031 exchange, that question matters as much as the yield.
AA- / A
S&P rating: bank / parent
5,164
Branches
15 Years
Typical lease term
10%
Increase every 5 years
3,700–4,000 SF
Typical building size
Ground / NNN
Typical lease type
Sources: The Boulder Group, Net Lease Tenant Profiles, September 2026 (ground lease, 4,000 SF); Matthews, 2026 Net Lease Tenant Report (NNN, ±3,700 SF); JPMorgan Chase investor relations (S&P ratings); JPMorgan Chase 3Q26 financial supplement (branches as of September 30, 2026). The two reports differ on lease type.
Key Takeaways
Tenant and Credit Profile
JPMorgan Chase & Co. (NYSE: JPM) is rated A by S&P, and its bank subsidiary, JPMorgan Chase Bank, N.A., is rated AA-. The company reported $15.3 billion of net income in the third quarter of 2026. Confirm which entity signs the lease on any property you consider.
Lease Structure to Confirm
Boulder lists a typical ground lease and Matthews lists NNN, both with a 15-year term and 10% rent increases every five years. Read the lease itself to see who handles the roof and structure.
Cap Rates
Chase properties currently show asking cap rates of 5.30% – 5.60% with 10 years remaining and 5.00% – 5.30% for a new 15-year lease (The Boulder Group, September 2026). Matthews reports closed sales averaging 5.27% in the first half of 2025 and 4.89% in the second.
A Growing Branch Network
JPMorgan Chase reported 5,164 branches at September 30, 2026, up from 5,018 a year earlier, while its active digital customer base also grew (3Q26 financial supplement).
Chase Bank NNN Cap Rates and Lease Data
If you’re weighing a Chase branch, three things shape what you’ll earn: who the tenant is, how the lease is structured, and what yield you’re paying for. Here’s how they fit together.
On the tenant side, the picture is strong. S&P rates JPMorgan Chase Bank, N.A. AA- and the parent company, JPMorgan Chase & Co., A, both investment grade.1 The lease side takes more care. Boulder lists a typical ground lease and Matthews lists NNN, but both report a 15-year term with a 10% rent increase every five years. That works out to roughly 2% a year, so most of your return comes from the yield you buy in at, not from rent growth.
That’s where cap rates come in. Boulder shows asking cap rates of 5.00% – 5.30% on a new 15-year lease, 5.30% – 5.60% with 10 years left, and 5.60% – 5.90% with 5 years left.2 The pattern is worth knowing: as the remaining term gets shorter, the yield goes up. You’re being paid more to take on the question of whether Chase renews when the lease ends.
Closed sales sit in the same range. Matthews reports 12 Chase sales in the first half of 2025 at an average cap rate of 5.27% and 18 in the second half at 4.89%, each with about 14 years of lease remaining. Properties on the market when the report was written averaged a 4.87% asking cap rate with 12 years remaining, in a range from 4.00% to 6.75%. The three sales so far in 2026 averaged 5.75%, but with only about 3 years of term left, which shows how much remaining term moves the price.3
In dollars, Boulder puts the average sale price at about $4.5 million with average rent of about $220,000 a year. On a typical 4,000 SF branch, that works out to roughly $1,125 per square foot in price and $55 in annual rent.4 Matthews points the same way, with average annual rent of about $199,828 on a typical 3,700 SF branch and on-market listings averaging about $5.0 million.
1. The Boulder Group, Net Lease Tenant Profiles, September 2026, p. 20 (S&P AA-, ground lease, 15-year term, 10% every 5 years); Matthews, 2026 Net Lease Tenant Report, p. 9 (S&P A, NNN, 15-year term, 10% every 5 years). The two reports appear to cite different entities: JPMorgan Chase investor relations lists S&P long-term issuer ratings of A for JPMorgan Chase & Co. and AA- for JPMorgan Chase Bank, N.A., both with stable outlooks (the page shows no as-of date). The roughly 2% a year figure is our calculation (10% over five years compounds to about 1.9% a year). ↩
2. The Boulder Group, Net Lease Tenant Profiles, September 2026, p. 20. Asking cap rates as of September 2026. ↩
3. Matthews, 2026 Net Lease Tenant Report, p. 9. Transaction figures are averages of closed sales (12 in the first half of 2025, 18 in the second half, and 3 year to date in 2026 as of the report); on-market data covers 41 properties listed at the time of the report. Matthews figures are averages of closed sales and listings, while Boulder’s are asking ranges, so the two measure different things. ↩
4. The Boulder Group, Net Lease Tenant Profiles, September 2026, p. 20, and Matthews, 2026 Net Lease Tenant Report, p. 9. Average sale price, average rent and typical building size are as reported; the per-square-foot figures are our calculations ($4.5 million and $220,000 over 4,000 SF). Averages blend different lease terms and locations, so treat them as a guide rather than a quote for any one property. ↩
Chase Bank as a Tenant
How Chase operates
Chase is the consumer and business banking brand of JPMorgan Chase & Co., which is headquartered in New York and trades on the NYSE under the symbol JPM (Matthews, 2026 Net Lease Tenant Report). Its branches take deposits, make loans and handle payments for individuals and businesses.
For a landlord, a branch lease means one tenant, one building and a long term. Both reports list a typical 15-year lease with 10% rent increases every five years. The buildings are small, about 4,000 SF in Boulder and about 3,700 SF in Matthews. Because Boulder lists a ground lease and Matthews lists NNN, confirm in the lease who owns the building and who handles roof, structure and parking.
Financial strength and growth
JPMorgan Chase & Co. reported third-quarter 2026 net income of $15.3 billion, compared with $14.4 billion a year earlier (Form 8-K, October 13, 2026). S&P rates the parent company A and JPMorgan Chase Bank, N.A. AA-, both with a stable outlook (JPMorgan Chase investor relations). The ratings page shows no as-of date, so review current ratings from the agencies as part of your due diligence.
The branch network is still growing. JPMorgan Chase reported 5,164 branches at September 30, 2026, compared with 5,083 at the end of 2025 and 5,018 a year earlier, along with about 78 million active digital customers (third-quarter 2026 financial supplement). The market reports show lower or rounded counts: Boulder lists 4,700 locations and Matthews about 5,000.
Why Investors Buy Chase Bank Properties
A Chase branch gives you a highly rated tenant in a small, single-tenant building. Of the five banks in Boulder’s September 2026 report, Chase has the highest S&P rating, AA-, and the most locations, 4,700, ahead of Wells Fargo (4,000), Bank of America (3,500), Truist (2,781) and PNC (2,629).
The pricing is close across the group. With 10 years remaining, Boulder’s asking range for Chase is 5.30% – 5.60%, the same as Wells Fargo (rated BBB+) and a little below Truist at 5.40% – 5.70%, PNC at 5.50% – 5.80% and Bank of America at 5.75% – 6.05%. On a new 15-year lease, Chase’s 5.00% – 5.30% matches Bank of America and PNC and sits above Wells Fargo’s 4.90% – 5.20%. In other words, the rating gap between these banks does not show up as a clear gap in yield, so lease terms and location do more of the work.
The leases themselves look alike on paper. Boulder lists 15-year terms with 10% increases every five years for all five banks, and ground leases for Chase, Bank of America, PNC and Wells Fargo, with Truist the one triple net lease. That is why the lease document, not the logo, decides who pays for what.
Risks and Market Conditions
A bank branch is a small, single-tenant building, so the question to ask is what happens if Chase does not renew. Remaining term moves price noticeably: Boulder’s asking range is 5.60% – 5.90% with 5 years left, against 5.00% – 5.30% on a new 15-year lease, and the three Chase sales Matthews reported so far in 2026 averaged 5.75% with about 3 years remaining.
Banking is also shifting toward digital channels. JPMorgan Chase reported about 78 million active digital customers and about 65 million active mobile customers at the end of the third quarter of 2026 (financial supplement), even as it added branches. For an owner, that makes the lease terms the thing to study: remaining term, renewal options, who owns the building and who handles roof and structure, which the two reports describe differently.
Build a Diversified NNN Portfolio
Pairing a Chase Bank branch with other net-lease brands spreads risk across tenants, industries and markets. Compare other brands we help buyers acquire:
Chase Bank NNN FAQs
Who pays property expenses on a Chase Bank branch NNN property?
It depends on the lease. Boulder lists a typical ground lease for Chase and Matthews lists NNN, and both report a 15-year term. Under a triple net lease the tenant generally pays property taxes, insurance and maintenance, but responsibility for the roof and structure varies, so confirm it in the lease before you buy.
What cap rate do Chase Bank properties trade at?
Asking cap rates currently run 5.60% – 5.90% with 5 years remaining, 5.30% – 5.60% with 10 years remaining and 5.00% – 5.30% for a new 15-year lease (The Boulder Group, September 2026). Matthews reports closed sales averaging 5.27% in the first half of 2025 and 4.89% in the second. Actual cap rates vary by location, remaining lease term, guarantor and rent history. Talk to our team about current opportunities.
How should I evaluate a Chase Bank branch as a tenant?
Start with who signs the lease: S&P rates JPMorgan Chase Bank, N.A. AA- and JPMorgan Chase & Co. A. Then check the remaining term, renewal options, rent increases and who owns the building. Chase reported 5,164 branches at September 30, 2026, but the value of any one branch depends on its own lease and location.
Questions about NNN Chase Bank Properties for Sale?
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Market data, cap rates, and tenant statistics on this page come from third-party reports and company disclosures, cited in the footnotes. We believe these sources are reliable but do not guarantee their accuracy or completeness. Figures reflect the date of each source and change with market conditions, so verify current numbers before relying on them.