Net Lease Bank
For Sale
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128 W Ohio Street, Rockville, IN 47872
Single-tenant Old National Bank building with a 15-year lease, featuring renewal options and CPI-based rent increases.
Property SizeContact for details
Days on Market122
Property Features for 128 W Ohio Street
General Information
Standard status
Active
Property subtype
Retail, Office
Listing Agency:
Ludwig & Seeley Inc.
Listed By:
Richard Ludwig · License #MI 6502110967
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 20 at 8:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ludwig & Seeley Inc.
Investment Insights
Based on property information with market context.
Fortis Net Lease is pleased to present the Old National Bank building at 128 W Ohio Street in Rockville, Indiana. The property is a 22,000 +/- SF, single-tenant bank facility positioned on a signalized hard corner of W Ohio Street and Market Street in downtown Rockville.
The tenant has occupied the building for over 10 years. There are 4 years remaining on the original 15-year lease, which includes four, five-year renewal options. The lease provides for annual CPI rent increases, capped at 1.5% per year. The structure is described as a NNN arrangement with absolutely no maintenance or capital exposure to the landlord.
According to the remarks, since 2013 this location has increased deposits by more than 10% per year, totaling over $40,500,000 as of June 2016. The current NNN rent is stated as $7.39 per square foot.
The tenant has occupied the building for over 10 years. There are 4 years remaining on the original 15-year lease, which includes four, five-year renewal options. The lease provides for annual CPI rent increases, capped at 1.5% per year. The structure is described as a NNN arrangement with absolutely no maintenance or capital exposure to the landlord.
According to the remarks, since 2013 this location has increased deposits by more than 10% per year, totaling over $40,500,000 as of June 2016. The current NNN rent is stated as $7.39 per square foot.
Key Highlights
- 22,000 +/- SF Old National Bank building in downtown Rockville, IN on a signalized corner of W Ohio St & Market St
- Traffic counts exceed 10,000 vehicles per day at the property’s W Ohio St & Market St intersection
- Tenant occupied the building for over 10 years, with 4 years remaining on the original 15‑year lease
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
353
Businesses Nearby
Explore this area
Business Placement
Demographics for 47872, IN
8,075
Population
3,695
Households
2.2
Avg Household Size
41
Median Age
15%
College-Educated
80%
High-School Grad
169.6 sq mi
ZIP Area
48
Density / Sq Mi
$66,508
Median Household Income
$35,014
Median Earnings
$684
Median Rent
$149,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Bank - Single-tenant Old National Bank building with a 15-year lease, featuring renewal options and CPI-based rent increases.
Where is this bank located?
The property is located at 128 W Ohio Street Rockville, IN.
What are key features of this property?
This property features: 22,000 +/- SF Old National Bank building in downtown Rockville, IN on a signalized corner of W Ohio St & Market St; Traffic counts exceed 10,000 vehicles per day at the property’s W Ohio St & Market St intersection; Tenant occupied the building for over 10 years, with 4 years remaining on the original 15‑year lease
