Chase Bank Branch Sells For $919 PSF

Marcus & Millichap announced today the sale of NNN Chase Bank, a 4,280-square foot net-leased property located in Miami, according to Ryan Nee, regional manager of the firm’s Miami office.

The asset sold for $4 million or $919.11 price per square feet.

Drew A. Kristol and Kirk D. Olson, both Senior Vice Presidents of Investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, Konover South.

“This particular Chase branch has very high annual deposits and sits in a high traffic dense retail corridor of the Kendall submarket of Miami,” said Kristol.

The Chase Bank branch is located at 12610 SW 120th St in Miami, within the South Kendall Square shopping center. The property was constructed in 2004.