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Bob Evans | 20yr Corp Abs NNN w/ Incrs 1997 Sunset Blvd

5,218 SF Retail Building Steubenville, OH 43952 £2,491,321 (£477/SF) 7% Net Initial Yield

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Investment Highlights

Brand New 20-Year Lease | Corporate Guaranteed | Scheduled Rental Increases
Hollywood City Center (309,000 SF) | Fort Steuben Mall (669,000 SF) | Rural King Plaza 217,000 SF) | Primary Retail Corridor

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Strong Demographics in 5-Mile Trade Area

Executive Summary

SRS National Net Lease Group in collaboration with Hoty Enterprises is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate signed, Bob Evans investment property located in Steubenville, Ohio. The tenant, Bob Evans Restaurants, LLC, recently signed a brand new 20 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features annual 2% rental increases starting in May 2027 and continuing throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free-investment opportunity for a passive investor.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Restaurant

Building Size

5,218 SF

Building Class

Year Built

2012

Price

£2,491,321

Price Per SF

£477

Net Initial Yield

NOI

£174,372

Tenancy

Single

Number of Floors

Building FAR

0.11

Lot Size

1.12 AC

Zoning

B-2 - Community Commercial District

Parking

17.06 Spaces per 1,000 SF Leased

Frontage

192 ft on Sunset Boulevard

Amenities

Corner Lot
Freeway Visibility

Restaurant

Signage

Signalised Intersection

Accommodation and Food Services
99,999 SF
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Bob Evans Restaurants is a chain of family style restaurants founded and headquartered in Columbus, Ohio, which owns and operates nearly 500 locations in 18 states, primarily in the Midwest, mid-Atlantic and Southeast regions of the United States. Bob Evans believed in treating strangers like friends and friends like family; and those principles are alive today at every Bob Evans Restaurant. As a private company owned by Golden Gate Capital, Bob Evans Restaurants is focused on providing quality food and hospitality to every guest at every meal, each and every day.