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29546054
31434909

606 3rd Ave, Huntington, WV 25701

BB
WV B200300608, OH BRK.200900214 (+21)
Bang Realty
Listed by Bang Realty
$2,390,000
31 days on market
Updated 31 days ago
Opportunity zone

Bob Evans

Details
Property Type Retail
Sub Type Restaurant
Square Footage 33,600
Net Rentable (SqFt) 5,646
Units 1
Cap Rate 6.75%
NOI $161,304
Occupancy 100%
Tenancy Single
Brand/Tenant Bob Evans
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 07/30/2043
Remaining Term 17.2
Rent Bumps Yes
Lease Options Four 5 Year renewal options
Price per SqFt $71
Class C
Year Built 2003
Buildings 1
Stories 1
Acreage 0.770
Lease Commencement 07/23/2023
Occupancy Date 06/30/2023
Ownership (Building & Land) Fee Simple

Retail | 6.75% CAP | 33,600 SqFt

Marketing description

Bob Evans Has 17+ Years Remaining on Initial 20-Year Absolute Nnn Lease with Rare 2% Annual Rental Increases Starting in The 5th Lease Year (may 1, 2027)! the Tenant, Bob Evans Restaurants, Llc Operates ±420 Locations In Delaware, Florida, Illinois, Indiana, Kansas, Kentucky, Maryland, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia & West Virginia. Successfully Open & Operating for Decades and Conveniently Located About 1 Mile from Marshall University - a Public Research University Serving 10,307 Students!

The Asset Is Well-Positioned on A ±0.77-Acre Lot with Exceptional Visibility/access on 3rd Ave, Conveniently Located Just East of Wv 527, South of Us 60 with Traffic Counts of 28,632 Cpd! Retailers In Huntington & Surrounding Area Include Walmart, Sam’s Club, Lowe’s Home Improvement, Gabe’s, Kroger, Save a Lot, Dollar General, Dollar Tree, Family Dollar, O’reilly Auto Parts, Napa, Auto Zone, Cvs, Goodwill, Habitat for Humanity, Marquee Cinemas. Marshall Health Network Arena (7,500- Seat Premier Arena & Newly Renovated Convention Center) Sits in The Heart of The Jewel City and For Over 40 Years Has Been Drawing Community Members from All Around the Tri-State Area to Attend Concerts, Family Shows, Athletic Competitions, Professional Conferences and Experience the Charm of The City Year-Round. It Is 2 Miles from Cabell Huntington Hospital - a 303-Bed Teaching Hospital & Regional Referral Center that Also Houses the 72-Bed Hoops Family Children’s Hospital Within Its Facility, Serving as An Academic Medical Center for Marshall University; 31/2 Miles from St. Mary’s Medical Center - Huntington’s Largest Hospital and A Leading West Virginia Healthcare Provider, Employing Over 2,600 People and Offering 413 Beds with Advanced, Compassionate Care Across Major Specialties Including Cardiac, Cancer, Trauma, Neuroscience, and Orthopedics.

Investment highlights

  • Brand New Absolute Nnn Lease: 17+ Years Remaining on Initial 20-Year Absolute Nnn Lease with Rare 2% Annual Rental Increases Starting in The 5th Lease Year (may 1, 2027)!

  • Corporate Tenant: bob Evans Restaurants, Llc Operates ±420 Locations in Delaware, Florida, Illinois, Indiana, Kansas, Kentucky, Maryland, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia & West Virginia

  • University Location: successfully Open & Operating for Decades and Conveniently Located About 1 Mile from Marshall University - a Public Research University Serving 10,307 Students!

  • Traffic Counts: well-Positioned on A ±0.77-Acre Lot with Exceptional Visibility/access on 3rd Ave, Conveniently Located Just East of Wv 527, South of Us 60 with Traffic Counts of 28,632 Cpd!

  • 2025 Demographics: total Population (5 Mi): 62,883 | Average Household Income (1 Mi): $77,396

Listing Contacts

BB
WV B200300608, OH BRK.200900214 (+21)
Bang Realty
Listed by Bang Realty

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$161,304.00
$13,442.00/mo

Valuation Metrics

0
DSCR
6.75%
Cap Rate
6.75%
ROI

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Additional Information

Name
Brian Brockman
License
B200300608
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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