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Old National Bank 407 S Main St 14,074 SF Retail Building Clinton, IN 47842 $3,800,149 CAD ($270.01 CAD/SF) 6.50% Cap Rate
EXECUTIVE SUMMARY
CIRE Partners is pleased to exclusively offer for sale a single tenant bank portfolio located in Indiana. The investment contains a corporately guaranteed lease from an investment grade tenant, First Mid Illinois Bank & Trust and Old National Bank (Aa3 Moody’s Credit Rating). The current lease term runs until 2029 and has four, five year option periods with annual rent increases throughout the remaining lease term and option periods.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
14,074 SF
Building Class
C
Year Built
1964
Price
$3,800,149 CAD
Price Per SF
$270.01 CAD
Cap Rate
6.50%
NOI
$247,010 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Lot Size
1.18 AC
Opportunity Zone
Yes
Zoning
EMS-VD - Commercial
Parking
55 Spaces (3.91 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Signage
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 83-13-15-310-049.000-002 | Improvements Assessment | $24,548 CAD |
| Land Assessment | $4,251 CAD | Total Assessment | $28,799 CAD |
PROPERTY TAXES
Parcel Number
83-13-15-310-049.000-002
Land Assessment
$4,251 CAD
Improvements Assessment
$24,548 CAD
Total Assessment
$28,799 CAD
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Old National Bank | 407 S Main St
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