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Investment Highlights
- Absolute NNN lease structure reduces landlord obligations.
- Property features three drive-thru lanes and an on-site ATM.
- Renewal options extend through October 2042.
- Lease backed by a bank with approximately $2 billion in assets.
- Reported branch deposits exceed $5 million.
- Located along South Main Street within Harrisburg's commercial area.
Executive Summary
511 S Main St presents an opportunity to acquire a single-tenant bank property in Harrisburg, Illinois with an absolute NNN lease structure. The offering is backed by a banking institution reported in the marketing materials as having approximately $2 billion in assets, providing investors with a credit-oriented tenancy profile and a lease structure designed to minimize landlord responsibilities. The property includes three drive-thru bays and an on-site ATM, features that support customer convenience and ongoing branch operations.
Located along South Main Street, the property benefits from a position within Harrisburg's established commercial corridor, providing visibility and access to local residents, businesses, and daily traffic patterns. The branch serves a community base supported by surrounding households and consumer activity within the immediate trade area. Marketing materials indicate population estimates of 5,583 within one mile, 8,966 within three miles, and 10,458 within five miles of the property.
The offering is further supported by reported branch deposits exceeding $5 million and a remaining lease term of seven years. Renewal options reportedly extend occupancy potential through October 2042, creating a longer-term investment horizon for prospective buyers. The combination of a net-leased structure, established banking use, drive-thru functionality, and renewal option framework positions the asset as a potential passive investment opportunity within Southern Illinois.
Located along South Main Street, the property benefits from a position within Harrisburg's established commercial corridor, providing visibility and access to local residents, businesses, and daily traffic patterns. The branch serves a community base supported by surrounding households and consumer activity within the immediate trade area. Marketing materials indicate population estimates of 5,583 within one mile, 8,966 within three miles, and 10,458 within five miles of the property.
The offering is further supported by reported branch deposits exceeding $5 million and a remaining lease term of seven years. Renewal options reportedly extend occupancy potential through October 2042, creating a longer-term investment horizon for prospective buyers. The combination of a net-leased structure, established banking use, drive-thru functionality, and renewal option framework positions the asset as a potential passive investment opportunity within Southern Illinois.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Bank
Building Size
2,700 SF
Building Class
C
Year Built
1913
Price
$1,236,000
Price Per SF
$457.78
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.48 AC
Zoning
C - Commercial
Amenities
- Drive Thru
Fairly walkable
50/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 06-2-158-01 | Improvements Assessment | $164,720 |
| Land Assessment | $10,125 | Total Assessment | $174,845 |
Property Taxes
Parcel Number
06-2-158-01
Land Assessment
$10,125
Improvements Assessment
$164,720
Total Assessment
$174,845
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