400 Market St - Bank FOR SALE


Mount Carmel, IL 62863
$1,806,000 USD
248-702-0288
400 Market St, Mount Carmel, IL for Sale
$1,806,000 USD
Bank - FOR SALE
1/6
null | 8.25% Cap Rate

400 Market St
Mount Carmel, IL 62863


HIGHLIGHTS

  • 13,068 Square Foot First Mid Bank & Trust Branch Located in Mount Carmel
  • Tenant Exercised a 5-Year Lease Renewal in 2022
  • Absolute Net Lease (NNN) - Zero Landlord Responsibilities
  • 1.5% Annual Rental Increases Throughout Primary Term and Options
  • (3) Five-Year Renewal Options Featuring Annual Rental Increases
  • Corporate Guarantee: $46.5 Million in Deposits | 24% Increase From 2021

OVERVIEW

13,068 Square Foot First Mid Bank & Trust Branch Located in Mt. Carmel Tenant Exercised a 5-Year Lease Renewal in 2022 Absolute Net Lease (NNN) - Zero Landlord Responsibilities 1.5% Annual Rental Increases Throughout Primary Term and Options Corporate Guarantee: $46.5 Million in Deposits | 24% Increase From 2021 (3) Five-Year Renewal Options Featuring Annual Rental Increases First Mid-Illinois Acquired 11 Locations in September of 2015 from Old National Bank. 8,500 People Within 5 Miles of Subject Property Household Income in A 5-Mile Radius Exceeds $64,000

FOR SALE DETAILS

PRICE

$1,806,000 USD

PRICE/SF

$121 USD /SF

CAP RATE

8.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

First Mid Bank & Trust

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

23,087 SF

ZONING

B2

APN/PARCEL ID

05-211-20-421-033

ASK ABOUT THIS PROPERTY

Deno BistolaridesEncore Real Estate Investment ServicesMore Info
248-702-0288

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Deno BistolaridesEncore Real Estate Investment ServicesMore Info
248-702-0288

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