Chase and Bank of America both operate large U.S. retail branch networks and carry strong credit ratings. Branch properties are often small buildings, and many listings are ground leases. Both banks carry ratings well above the BBB‑/Baa3 floor that defines investment grade, so compare the specific branch, lease and location alongside the ratings.
Head-to-Head
| Chase | Bank of America | |
|---|---|---|
| Bank entity rating, S&P / Moody’s | JPMorgan Chase Bank, N.A. (long-term issuer): AA-/Aa2 | Bank of America, N.A. (long-term senior debt): A+/Aa2 |
| Investment grade status | Investment Grade | Investment Grade |
| Branches | 5,135 branches in 48 states and D.C. (June 30, 2026) | About 3,500 retail financial centers (June 30, 2026) |
| Bank subsidiary | JPMorgan Chase Bank, N.A. | Bank of America, N.A. |
| Parent (ticker) | JPMorgan Chase & Co. (NYSE: JPM) | Bank of America Corporation (NYSE: BAC) |
| Median asking cap rate (listings we track) | 5.00% (35 listings) | 5.25% (21 listings) |
Branch counts from JPMorgan Chase’s and Bank of America’s Forms 10-Q for the quarter ended June 30, 2026. Ratings: JPMorgan Chase Bank, N.A. long-term issuer ratings from the credit ratings table in JPMorgan Chase & Co.’s Form 10-Q for the quarter ended June 30, 2026, and Bank of America, N.A. long-term senior debt ratings from Table 16 of Bank of America Corporation’s Form 10-Q for the quarter ended June 30, 2026, as recorded in our ratings database. These ratings apply to the banks; a lease is not itself rated, so confirm the tenant and any guarantor named in each lease. Cap rates are live asking cap rates on listings InvestmentGrade.com tracks; asking cap rates are not closed-sale cap rates.
Credit Ratings
Our database shows JPMorgan Chase Bank, N.A. at AA-/Aa2 (long-term issuer ratings) and Bank of America, N.A. at A+/Aa2 (long-term senior debt ratings), per each parent’s Form 10-Q for the quarter ended June 30, 2026. Both are well above the BBB‑/Baa3 investment grade floor. Banks carry separate ratings for the holding company and the bank subsidiary, and the named tenant on a branch lease may be the bank subsidiary, such as JPMorgan Chase Bank, N.A. or Bank of America, N.A., so confirm the named tenant and which rating applies.
Ratings come from our tenant ratings database. For how the scale works, see the investment grade guide.
Cap Rates
The head-to-head table above shows each bank’s live median asking cap rate and listing count. Lease structure and remaining term vary from listing to listing for both banks, so compare a property with listings of the same structure and remaining term, and remember that asking cap rates are not closed-sale cap rates.
Lease Structure and Real Estate
Branch leases vary: ground lease or building lease structure, initial terms, rent increases and remaining terms differ by lease, and some listings do not state the structure. Some bank leases allow early termination; read the lease for that right, the rent schedule and renewal options.
Banks continue to adjust their branch networks: Chase reported 5,135 branches at June 30, 2026, up from 4,994 a year earlier, while Bank of America reported 3,530 financial centers, a net decrease of 134 from a year earlier, as it continued to optimize its consumer banking network. Branch deposits, published annually in the FDIC Summary of Deposits, help show how important a branch is to the bank.
Bonds vs. Real Estate
Both parent companies have long-term debt outstanding (Forms 10-Q for the quarter ended June 30, 2026), so a branch cap rate can be compared with bond index yields. The 10-year Treasury is 5.24% and the ICE BofA US Corporate Index (investment grade) yields 5.99% as of October 1, 2026. See the bond-to-NNN spread table.
Which Fits Your Mandate
- Chase has the larger branch network of the two (Forms 10-Q, June 30, 2026). Its bank entity is rated AA-/Aa2 and Bank of America’s A+/Aa2 in our database; the rating types differ (long-term issuer versus long-term senior debt), so compare the ratings that apply to the entity named on each lease.
- Bank of America can suit buyers who find a better-located branch or a better lease at a comparable price; its bank entity is also rated well above the investment grade floor.
At this credit level, weigh location, lease term and ground lease structure alongside the rating difference. See the JPMorgan Chase and Bank of America tenant pages and Chase vs. Wells Fargo.
Comparing Bank Branch Net Lease Properties?
We can compare specific Chase and Bank of America branches against current listings, recent sales and branch deposit data. On the majority of transactions, there is no separate fee to you as the buyer; the listing broker pays a cooperating commission. Investment Grade Capital, a service of Investment Grade LLC, can match you with lenders.
Request a buyer consultation or email team@investmentgrade.com.
Frequently Asked Questions
What are the credit ratings of Chase and Bank of America?
Our ratings database shows JPMorgan Chase Bank, N.A. at AA-/Aa2 (long-term issuer ratings) and Bank of America, N.A. at A+/Aa2 (long-term senior debt ratings). Both are well above the investment grade floor. Branch leases may be signed by the bank subsidiaries, JPMorgan Chase Bank, N.A. and Bank of America, N.A., so confirm the named tenant in each lease.
How do their ratings compare with the investment grade floor?
Both bank entities are rated above the investment grade floor in our database: JPMorgan Chase Bank, N.A. at AA-/Aa2 (long-term issuer ratings) and Bank of America, N.A. at A+/Aa2 (long-term senior debt ratings), per each parent’s Form 10-Q for the quarter ended June 30, 2026. The floor is BBB‑ (S&P) and Baa3 (Moody’s); our investment grade guide shows each notch on the scale.
What asking cap rates do Chase and Bank of America branches have?
The head-to-head table on this page shows the live median asking cap rate for each bank across the net lease listings we track for it; asking cap rates are not closed-sale cap rates. Lease structure and remaining term vary by listing, so compare a property with listings of the same structure and remaining term.
Are bank branches a declining property type?
Branch counts move in both directions: from June 30, 2025 to June 30, 2026, Bank of America’s financial centers fell by a net 134 while Chase’s branches rose from 4,994 to 5,135 (Forms 10-Q for the quarter ended June 30, 2026). Weigh branch-level deposits, location and lease terms when judging a particular branch.
Sources: JPMorgan Chase & Co. Form 10-Q for the quarter ended June 30, 2026 (branch count and credit ratings table); Bank of America Corporation Form 10-Q for the quarter ended June 30, 2026 (financial centers and Table 16, Senior Debt Ratings). Listing figures are live medians of the active net lease listings mapped to each bank in the InvestmentGrade.com listings database, excluding listings marked under contract, pending, closed or on hold, records our review marked as not qualifying (such as a different tenant or a multi-property portfolio), and asking prices under $150,000; each median uses only listings that state the figure.
Educational content only. InvestmentGrade.com is a commercial real estate brokerage and educational publisher. We do not sell, broker, underwrite, or solicit any bonds, securities, or investment products. Yields, ratings, and prices referenced fluctuate continuously and are sourced from public market data as of the date noted. Nothing on this page constitutes investment advice, an offer to sell, or a solicitation to buy any security. Consult a licensed broker-dealer, registered investment advisor, or tax professional before making any investment decision. For SEC investor education, visit investor.gov.
