Listed by SURMOUNT
$2,106,000
Bob Evans | 6.50% Cap | 2% Annual Increases
Details
Property Type Retail
Sub Type Restaurant
Square Footage 6,595
Cap Rate 6.50%
NOI $136,896
Tenancy Single
Lease Type NNN
Lease Expiration 07/31/2043
Year Built 2009
Acreage 2.950
Tenant Credit Corporate Guarantee
Lease Commencement 07/24/2023
Ground Lease No
Ownership Fee Simple
About This Property
Marketing description
Surmount is pleased to present the exclusive listing for a Bob Evans located at 11477 Allen Road, Jeffersonville, OH 43128. The site consists of roughly 6,595 rentable square feet of building space on an estimated 2.95-acre parcel of land. Bob Evans is subject to a 20-year Triple Net (NNN) lease, which commenced 7/24/2023. The current annual rent is $136,896 and has scheduled increases of 2.00% Annually.
Investment highlights
- Long-Term NNN Lease | 20-year Triple Net (NNN) lease commenced July 2023 providing secure, passive income with no landlord responsibilities.
- Annual Rent Growth | Strong 2.00% annual rent escalations offer consistent NOI growth and inflation hedge throughout the lease term.
- Established National Tenant | Bob Evans is a well-known, publicly recognized restaurant brand with a long-standing operating history and loyal customer base.
- Large Parcel With Upside | Situated on a sizable 2.95-acre parcel with ample parking and strong underlying real estate value along a major highway corridor.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$136,896.00
$11,408.00/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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