Property History
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Investment Highlights
- Absolute Net Ground Lease - Requires Zero Landlord Responsibilities.
- Tenant has Demonstrated a Strong Commitment to the Site - Over 25 Years of Occupancy. Tenant Renovated the Site in 2015.
- Brand New 20-Year Lease Extension Executed During COVID - Site has remained open throughout COVID.
- Attractive 1.50% Annual Rental Escalations During the Initial Term & Option Periods.
- Outparcel to Ashtabula Towne Square & Walmart Supercenter. Ideally located along U.S. Route 20 (21,000 VPD).
- Household Income within a 1-Mile Radius: $64,000.
- Strong Corporate Guarantee Backed by Approximately 500+ Corporate Locations.
- National Retailers Surrounding Subject Property Include: The Home Depot, Walmart Supercenter, Lowe’s, ALDI, Tractor Supply Co., and more.
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Marketing Description
For Sale
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Marketing Description
SAB is pleased to present Bob Evans in Ashtabula, OH. It is a ground lease with 20 years remaining with attractive 1.5% rent increases annually in both its base term and throughout its four, five-year options. The lease is corporately guaranteed by Bob Evans Restaurants, LLC. which operates 440 locations throughout the United States. The subject property is highly visible from N Ridge Road E, which features more than 21,150 vehicles per day. There is significant retail development nearby. It is situated as an outparcel to the Ashtabula Town Square Shopping Mall. Ashtabula is located along the Lake Erie coastline.
Investment Highlights
- Bob Evans in Ashtubla, OH | Nearby Coast of Lake Erie
- Long Term Ground Lease with 20 Years Remaining
- Strong Corporate Guaranty | 440+ Units
- 1.5% Annual Rent Increases | Hedge Against Inflation
- Long Term Lease Extension in the Midst of a Global Pandemic (Covid-19)
- Ideally Located Along N Ridge Rd E | More Than 21,150 Vehicles Per Day (VPD)
- Less Than 3 Miles from the Planned Petmin USA Pig Iron Plant | $474 Million Industrial Project for Facility That Would Produce 425 Tons of Nodular Pig Iron Annually
- Outparcel to Ashtabula Towne Square Shopping Mall
- Strong Retail Corridor | Adjacent to Walmart, ALDI and The Home Depot
- High Growth Market | Resident Population Increased 13% Since 2010 Within a One Mile Radius
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Contact Information
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Ownership Information
Zoning
LB CommercialRetail CommercialLocal Business District
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View all 99 uses
View all 99 uses Last updated Apr 15, 2026 For deeper zoning details, reports are available at Zoneomics
Property Details
Contacts
Sold on
BY:
Preet Sabharwal
•••.•••.8830
••••••rwal@••••••.com
Sold on
BY:
Dan Corcoran
•••.•••.8831
•••••oran@••••••.com
Sold on
BY:
Zach Weiss
•••.•••.8832
••eiss@••••••.com
Sold on
BY:
Michael Gaggo PRO
•••.•••.0287
••aggo@••••••••••.com
Sold on
BY:
Brandon Hanna PRO
•••.•••.0290
••core@••••••••••.com
Sold on
BY:
Justin Spiller
•••.•••.3989
••••••.•••ller@•••••.com
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