Bank

Bank Midwest - Absolute Net - 12 Years

434 S Main St, Ottawa, KS 66067

Listing Price: $2,153,846

Cap Rate
6.50%
Tenant Name
Bank Midwest (NYSE: NBHC)
Years Remaining On Lease
11.9
Gross SF
6,766
Guarantor
Corporate Guarantee
Rentable SF
6,766
Price/Gross SF
$318.33
Lease Type
Absolute Net
Rent Per Square Feet
$20.69

Investment Overview

Marcus & Millichap is pleased to present the fee simple interest in this Bank Midwest in Ottawa, KS. The subject is a single tenant property built in 1967 and remodeled in 1999. The 6,766 square foot building was formally home to People's Bank, which was originally founded in Ottawa, KS in 1871, until National Bank Holding Corporation purchased the bank and its assets for $39M in 2017 and subsequently branded this location as a Bank Midwest. National Bank Holding Corporation is listed on the New York Stock Exchange as NYSE: NBHC and has 101 locations and an A+ Health Rating from Deposit Accounts by Lending Tree.

Bank Midwest Signed a new 12 Year lease extension in February of 2021. The lease is an Absolute Net with zero landlord responsibilities and offers 7% rent increases every 6 years during the initial term and 5% increases during the two, five-year option periods.

The property is located on the corner of Main St and 5th Ave across from the city park and the Washburn Towers, a senior housing facility. Ottawa Kansas is the county seat of Franklin county just 30 minutes southwest of Kansas City and south of Lawrence KS.

Investment Highlights

  • New 12-Year Absolute Net Lease
  • Corporate Guarantee National Bank Holding Corporation (NYSE) | 101 Locations
  • 7% Rent Escalations Every 6 Years
  • Two, Five Year Options With 5% Rent Increases
  • A+ Health Grade By Lending Tree
  • Ottawa is the County Seat Of Franklin County

Exclusively Listed By

Bank

Bank Midwest - Absolute Net - 12 Years

Listing Price: $2,153,846

Cap Rate
6.50%
Tenant Name
Bank Midwest (NYSE: NBHC)
Years Remaining On Lease
11.9
Gross SF
6,766
Guarantor
Corporate Guarantee
Rentable SF
6,766
Price/Gross SF
$318.33
Lease Type
Absolute Net
Rent Per Square Feet
$20.69

Investment Highlights

  • New 12-Year Absolute Net Lease
  • Corporate Guarantee National Bank Holding Corporation (NYSE) | 101 Locations
  • 7% Rent Escalations Every 6 Years
  • Two, Five Year Options With 5% Rent Increases
  • A+ Health Grade By Lending Tree
  • Ottawa is the County Seat Of Franklin County

Investment Overview

Marcus & Millichap is pleased to present the fee simple interest in this Bank Midwest in Ottawa, KS. The subject is a single tenant property built in 1967 and remodeled in 1999. The 6,766 square foot building was formally home to People's Bank, which was originally founded in Ottawa, KS in 1871, until National Bank Holding Corporation purchased the bank and its assets for $39M in 2017 and subsequently branded this location as a Bank Midwest. National Bank Holding Corporation is listed on the New York Stock Exchange as NYSE: NBHC and has 101 locations and an A+ Health Rating from Deposit Accounts by Lending Tree.

Bank Midwest Signed a new 12 Year lease extension in February of 2021. The lease is an Absolute Net with zero landlord responsibilities and offers 7% rent increases every 6 years during the initial term and 5% increases during the two, five-year option periods.

The property is located on the corner of Main St and 5th Ave across from the city park and the Washburn Towers, a senior housing facility. Ottawa Kansas is the county seat of Franklin county just 30 minutes southwest of Kansas City and south of Lawrence KS.

Exclusively Listed By

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