The Boulder Group Arranges Sale of Chase Bank in Louisville MSA

Wilmette, IL– October 29, 2026 – The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant ground leased Chase Bank located at 2943 Richland Avenue in Louisville, Kentucky for $2,800,000. The property has operated as a Chase Bank branch since 2004 and sits within the Louisville MSA.

The property is located at 2943 Richland Avenue in Louisville, Kentucky, in Jefferson County, within the Louisville metropolitan statistical area. The Louisville MSA ranks 43rd in the United States by population size. The site sits just off the intersection of Taylorsville Boulevard and Breckenridge Lane. Taylorsville Boulevard carries approximately 32,000 vehicles per day. Breckenridge Lane carries approximately 37,000 vehicles per day. The location offers convenient access to Interstate 264, which carries approximately 166,000 vehicles per day, and Interstate 64, which carries approximately 128,000 vehicles per day. The property anchors a dense retail corridor that includes Kroger, TJ Maxx, HomeGoods, Starbucks, McDonald’s, Walgreens, CVS, Dollar Tree, and Goodwill. Nearby Hikes Point Plaza and McMahan Plaza add further national retail draw. Norton Children’s Medical Group and Advanced ENT & Allergy generate consistent daily traffic to the immediate trade area. The population within five miles of the property exceeds 249,000 residents. The average household income within five miles is approximately $106,000. The population within three miles is approximately 102,000 residents, with an average household income of approximately $98,000.

Randy Blankstein, Jimmy Goodman and John Feeney of The Boulder Group represented the seller in the transaction. The seller was a private investor. The buyer was a Midwest-based investor. The transaction priced at a cap rate inside the retail net lease sector average of 6.60% for the second quarter of 2026 according to The Boulder Group’s Net Lease Research Report, reflecting the strength of the investment-grade tenant and the ground lease structure.

The property is secured by a triple net ground lease. The lease expires on January 29, 2034, leaving approximately seven years of remaining term. The lease includes two 10-year renewal options. Rent escalates every five years based on CPI with no cap, throughout both the primary term and the renewal options. As a ground lease structured on a triple net basis, the lease carries zero landlord responsibilities. Deposits at this Chase Bank branch surpassed $119,000,000 in 2025.

JPMorgan Chase Bank, N.A., operating under the Chase brand, is headquartered in New York, New York. The institution traces its origins to 1799 and the founding of the Manhattan Company, with its modern form emerging from the 2000 merger of J.P. Morgan & Co. and Chase Manhattan Corporation. The company serves millions of customers across the United States through an extensive network of branches and digital platforms. Chase provides retail banking, credit cards, mortgages, auto loans, and small business services. As of early 2026, its parent reported approximately $4.8 trillion in assets under management and total client assets exceeding $7 trillion, drawing on a legacy spanning more than 225 years. Chase Bank carries an investment-grade credit rating.

“Investor appetite for well-located net lease assets backed by strong credit remains as competitive as we have seen it, and pricing for the best product has held firm even with a shifting interest rate outlook,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “A Chase branch on a corner like this one, with the traffic counts and the deposit base it generates, is exactly the kind of property that draws multiple offers, and we were able to execute quickly for our client.” John Feeney, Senior Vice President of The Boulder Group, noted, “Buyers targeting a passive ground lease with an investment-grade bank see a clean, low-management vehicle for a 1031 exchange, and that motivation continues to drive demand for assets like this one.”

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $11 billion of single tenant net lease real estate transactions. From 2013–2025, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both CoStar and MSCI Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.

www.bouldergroup.com

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Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html

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