Bob Evans

3260 Village Drive, Franklin, OH 45005

$3,429,000

Cap Rate 7.00%

Views: 57 Updated: 08.29.24 Posted: 08.29.24 Status: Inactive 09.19.24

Summary

Price $3,429,000	Built/Renov 2006	Tenant Bob Evans
Cap Rate 7.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,539	Lease Start 07-24-2023	#Units 440
Price/SF $619.06	Expiration 07-31-2043	Tenant Type Casual Dining
NOI $240,000	R. Term 18.7	Ownership Fee Simple
Rent/SF $43.33	Increases 2.0%/2/yrs	Pop 5Mi 90,411
Lot/AC 1.81	Options 4/5yrs/2%	AHHI 5Mi $82,220

Lease Highlights

Bob Evans has 18+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 2% annual rental escalations beginning year 5 throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Bob Evans is strategically located at the signalized, hard corner intersection of Roosevelt Boulevard and Towne Boulevard, with access to a combined daily traffic count of 41,650 vehicles.The property enjoys convenient access just off an I-75 on-ramp/off-ramp, which sees 116,000 VPD. Positioned in a prime retail corridor, it is within walking distance of several key destinations, including...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Freeway close
Top 100 MSA
Long 15+ yr lease
Absolute NNN
Annual rent increases
Corporate Guarantee

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Links

Bob Evans Wikipedia Bob Evans Wikipedia Franklin, Ohio Zip Code 45005 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Bob Evans
Guarantor:Corporate
Company:Golden Gate Capital
# 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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Listing Broker

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
31232 Views
23 Sold

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
30096 Views
21 Sold

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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