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Views: 129 DOM: 267 Updated: 11.15.24 Posted: 03.01.24 Status: Active 03.01.24

Summary

Price $3,047,000
Built/Renov 1982
Tenant Bob Evans
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,804
Lease Start 08-01-2023
#Units 440
Price/SF $524.98
Expiration 07-31-2043
Tenant Type Casual Dining
NOI $213,303
R. Term 18.8
Ownership Fee Simple
Rent/SF $36.75
Increases 2.0%/3/yrs
Pop 5Mi 43,457
Lot/AC 1.35
Options 4/5yrs/2%
AHHI 5Mi $73,038

Lease Highlights

  • Bob Evans recently signed a brand-new 20-year lease with 4 (5-year) options to extend
  • Lease features 2% annual rental increases starting in May 2027 and continuing throughout the inital term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Bob Evans is strategically located on National Highway, with access to a daily traffic count of 13,300 vehicles, establishing itself as the main retail thoroughfare for the city of La Vale. The property is positioned just north of Country Club Mall, a 594,000 square foot center which features national/credit tenants including a Walmart Supercenter and T.J. Maxx. Additionally, it is situated...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Bob Evans
  • Guarantor:Corporate
  • Company:Bob Evans Restaurants
  • # Units:440
  • Stock:Private

About Tenant

Bob Evans Restaurants, also known as Bob Evans, is an American chain of restaurants featuring a country theme. In addition to casual dining fare, most locations sell baked goods, snacks, and small...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,636 13,684 42,587
2023 Total Population : 1,663 13,876 43,457
2023 Employed Civilian Pop : 843 5,467 17,128
2023 Total Businesses : 218 588 1,861
2023 Average Household Income : $ 104,272 $ 99,422 $ 73,038
2023 Total Consumer Spending : $ 69 M $ 416 M $ 1108 M
2023 Median Age : 51 43 44
2023 Total Households : 767 4,804 17,355
2023 Pop Age 25+: Bachelor's Degree : 303 1,631 4,499
2023 Average Home Value : $ 207,866 $ 215,756 $ 188,883
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Campground Road 2017 11,862 0.18 mi
Ramp 2 Fr Ramp 7 (fr Is 68) To Md 658 Campground Rd 2020 2,792 0.22 mi
Ramp 7 Fr Is 68 Wb To Md 658 Sb Vocke Rd 2020 4,502 0.22 mi
Ramp 7 Fr Is 68 Wb To Md 658 Sb I- 68 2020 1,712 0.23 mi
Ramp 6 Fr Is 68 Eb To Md 658 Sb I- 68 2020 2,722 0.29 mi
National Freeway 2018 30,050 0.30 mi
Ramp 3 Fr Ramp 6 (fr Is 68) To Md 658 Nb I- 68 2020 1,212 0.31 mi
Ramp 6 Fr Is 68 Eb To Md 658 Sb Vocke Rd 2020 1,512 0.32 mi
Ramp 5 Fr Md 658 Sb To Ramp 4 (to Is 68) I- 68 2020 2,192 0.33 mi
Ramp 4 Fr Md 658 Nb To Is 68 Eb Braddock Rd 2020 4,532 0.33 mi

Listing Broker

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