Listed by Matthews
$1,950,391
Bob Evans
Details
Property Type Retail
Sub Type Restaurant
Square Footage 3,978
Cap Rate 7.50%
NOI $146,279
Brand/Tenant Bob Evans
Remaining Term 11
Year Built 2013
Buildings 1
Acreage 1.370
Ground Lease No
Strong Corporate Tenant | AVG HHI $130K+
Investment highlights
- Strong Corporate Tenant – Bob Evans Restaurants, LLC serves as the tenant, offering investors the security of a well-established corporate operator. Bob Evans operates approximately 500 locations nationwide, primarily throughout the Midwest and Eastern United States, and is a recognized leader in the national casual dining sector.
- Built-In Rental Growth – The lease features 2% annual rent escalations, delivering predictable income growth throughout the lease term. These scheduled increases enhance long-term value and provide a built-in hedge against inflation.
- Affluent Trade Area – The property benefits from strong surrounding demographics, with an average household income exceeding $131,401 within a three-mile radius—an attractive profile for a casual dining concept.
- High Traffic Exposure – Strategically positioned along U.S. Highway 27, the site enjoys excellent visibility and accessibility with traffic counts exceeding ±20,000 vehicles per day.
- Proven Operating History – This Bob Evans location has successfully operated at the site for over 17 years, reflecting consistent sales performance and long-term market viability.
- Absolute NNN Lease Structure – The absolute triple-net lease provides a truly passive investment, with zero landlord responsibilities and stable, predictable cash flow.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$146,279.32
$12,189.94/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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