Single-Tenant Bank
For Sale
Contact for pricing
401 Washington St, Covington, IN 47932
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 Market163
Property Features for 401 Washington St
General Information
Standard status
Active
Size
6,364 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$149,342
Building Details
Tenancy
Single
Listing Agency:
CIRE Partners
Listed By:
Andrew Slade · License #CA 01746250
Source:
Crexi
Added: Mar 26
Changed: Sep 2
Last Checked: Sep 2 at 3:20AM
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
48k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Dining 27%
Groceries 25%
County Market
Groceries
11,949 visits/mo
0.2 miles
McDonald's
Dining
11,508 visits/mo
0.3 miles
Casey's General Store
Shops & Services
9,887 visits/mo
0.3 miles
Dollar General
Shops & Services
6,485 visits/mo
0.0 miles
Valero Energy
Shops & Services
3,760 visits/mo
0.5 miles
Demographics for 47932, IN
5,271
Population
2,502
Households
2.1
Avg Household Size
46
Median Age
22%
College-Educated
94%
High-School Grad
106.3 sq mi
ZIP Area
50
Density / Sq Mi
$59,365
Median Household Income
$40,371
Median Earnings
$835
Median Rent
$171,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
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
