Single-Tenant Bank
401 Washington St Covington, IN 47932
401 Washington St, Covington, IN, 47932
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For Sale
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Single-tenant bank with a lease running until 2029 and multiple five-year renewal options.
Property Size6,364 SF
Price / SF$360.94
Days on Market118
Property Features for 401 Washington St
General Information
- Standard status
- Active
- Size
- 6,364 SF
- Property subtype
- Retail
Listing agency
CIRE Partners
Listed by
Andrew Slade · License #CA 01746250
Source
Crexi
Added: Mar 26 Updated: Jul 20 at 6:06PM Checked: Jul 21 at 7:07AM
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 CIRE Partners
Investment Insights
Based on property information with market context.
CIRE Partners is pleased to exclusively offer a single-tenant bank property for sale in Indiana. The offering includes a corporately guaranteed lease held by investment-grade tenant, First Mid Illinois Bank & Trust, and Old National Bank (S&P: BBB+ / Moody’s: A3).
The current lease term runs until 2029 and includes four five-year option periods. Annual rent increases are provided throughout the remaining lease term and through the option periods.
The property is a dedicated bank facility configured to support the operations of its single tenant under the existing lease structure.
The current lease term runs until 2029 and includes four five-year option periods. Annual rent increases are provided throughout the remaining lease term and through the option periods.
The property is a dedicated bank facility configured to support the operations of its single tenant under the existing lease structure.
Key Highlights
- Single‑tenant bank with lease term running until 2029
- Lease includes four five‑year option periods
- Annual rent increases throughout the remaining lease term and option periods
Property Analytics
Location Intelligence
Current Use by Public Records
Old National Bank
Bank
FAQs
What type of property is this?
Bank - Single-tenant bank with a lease running until 2029 and multiple five-year renewal options.
Where is this bank located?
The property is located at 401 Washington St Covington, IN.
What is the asking price?
The asking price for this property is $2,297,000.
What are key features of this property?
This property features: Single‑tenant bank with lease term running until 2029; Lease includes four five‑year option periods; Annual rent increases throughout the remaining lease term and option periods
