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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 18.8
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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Maps

  • 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

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