401 Washington St - Bank FOR SALE


Covington, IN 47932
$2,297,000 USD
619-277-4202
401 Washington St, Covington, IN for Sale
$2,297,000 USD
Bank - FOR SALE
1/2
null | 6.5% Cap Rate

401 Washington St
Covington, IN 47932


OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,297,000 USD

PRICE/SF

$361 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Old National Bank

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

26

LAND DETAILS

LAND ACRES

1.17 AC

LAND SF

50,965 SF

ZONING

COVIN

APN/PARCEL ID

23-06-35-225-037.000-016

ASK ABOUT THIS PROPERTY

Andrew SladeCIRE PartnersMore Info
619-277-4202

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Andrew SladeCIRE PartnersMore Info
619-277-4202

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.