Old National Bank
407 S Main St, Clinton, IN 47842
Pricing
Financials- Price
- $2,771,000
- Cap Rate
- 6.50%
- NOI
- $180,136
Property Details
Specs- Building Size
- ±14,074 SF
- Year Built
- 1990
- Land Area
- ±0.32 AC (14,074 SF)
- Property Type
- Retail – Bank
Description
CORPORATE GUARANTEE / INVESTMENT-GRADE CREDIT
Old National Bank (S&P: BBB+ / Moody's: A3) investment-grade credit, top 25 U.S. bank; Indiana's largest bank holding company- the 5th largest commercial bank headquartered in the Midwest- with $70B in assets and $55B in total deposits across more than 347 locations in nine states.
ABSOLUTE NNN LEASE - PASSIVE OWNERSHIP
Tenant responsible for 100% of expenses including roof, structure and parking.
STEADY RENT GROWTH
1.5 % annual increases through base and option terms.
STRONG BRANCH PERFORMANCE
$96.2 M deposits (FDIC 6/30/25) with consistent YOY growth.
ESSENTIAL LOCATION
Main Street corner site surrounded by regional banks and service retail.
MARKET GROWTH DRIVERS
Union Hospital Clinton expansion (2025), Terre Haute industrial corridor growth, and US-41 modernization ($150 M INDOT through 2027).
SECURE, PREDICTABLE YIELD
Fee-simple ownership and investment-grade credit provide low-risk, long-term income stability at a 6.50 % cap rate.
