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Peoples Bank 141 W Lincoln Hwy 9,410 SF Retail Building Schererville, IN 46375 $4,816,000 ($511.80/SF) 7.14% Cap Rate
Investment Highlights
- 15-Year Lease | 2% Annual Rent Increases | Absolute NNN |Fee Simple Ownership | Zero Landlord Responsibilities
- Established Bank Branch Since 1990 | $146M Deposits | Full-Service Banking | Excellent Visibility, Access, Parking, and Drive-Thru ATM’s
- Strong Demographics & Regional Growth | Part of Chicago’s 9.5 million Person MSA
- Corporate Guaranteed | Finward Bancorp (NASDAQ: FNWD) | Strong Company Financials
- High Traffic Prime Retail Location | W. Lincoln Highway (41,900 VPD) | Dense Commercial Corridor
Executive Summary
• Long-term 15-year Lease began March-2024
• 2% annual rent increases provide steady, predictable NOI growth
• Absolute NNN lease — tenant is responsible for CAM, taxes, insurance, and all maintenance
• Zero Landlord Responsibilities, delivering ideal passive, management-free investment income
• Fee Simple Ownership — investor controls both land and building
• 2% annual rent increases provide steady, predictable NOI growth
• Absolute NNN lease — tenant is responsible for CAM, taxes, insurance, and all maintenance
• Zero Landlord Responsibilities, delivering ideal passive, management-free investment income
• Fee Simple Ownership — investor controls both land and building
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
9,410 SF
Building Class
B
Year Built
1989
Price
$4,816,000
Price Per SF
$511.80
Cap Rate
7.14%
NOI
$343,894
Tenancy
Single
Building Height
2 Stories
Building FAR
0.20
Lot Size
1.10 AC
Zoning
P.O. - Professional Office
Parking
37 Spaces (3.93 Spaces per 1,000 SF Leased)
Amenities
- Banking
- Corner Lot
- Signalized Intersection
- Drive Thru
- Monument Signage
Fairly walkable
40/100
Very drivable
80/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 45-11-16-254-001.000-036 | Improvements Assessment | $2,045,900 |
| Land Assessment | $480,600 | Total Assessment | $2,526,500 |
Property Taxes
Parcel Number
45-11-16-254-001.000-036
Land Assessment
$480,600
Improvements Assessment
$2,045,900
Total Assessment
$2,526,500
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Peoples Bank | 141 W Lincoln Hwy