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First Mid Bank & Trust
$1,806,000
400 N Market Street, Mount Carmel Precinct, IL 62863
For Sale
Retail
Street Retail
Active
Last Updated: 03/21/2025
8.25
Cap Rate
148,979
NOI
Details:
Cap Rate: 8.25%
NOI: $148,979
Building Size: 13,068 sqft
Lot Area: 0.53 acres
Year Built: 1988
Highlights:
- 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
- (3) Five-Year Renewal Options Featuring Annual Rental Increases
- Corporate Guarantee | 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
Description:
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
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Location
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