Bob Evans
Columbia, MD
Key Details
| Price: | $2,257,117 |
|---|---|
| Cap Rate: | 5.25% |
| Annual Rent: | $118,499 |
| Address: | 8325 Benson Drive, Columbia, Maryland 21045 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 19 Years |
|---|---|
| Lease Commencement: | 6/30/2016 |
| Lease Expiration: | 4/30/2036 |
| Lease Term Remaining: | 11.4 Years |
| Rental Increases: | 1.50% Annually |
| Lot Size: | 1.75 Acres |
| Building Size: | 6,672 SF |
| Year Built: | 1993 |
NNN Pro is pleased to present the exclusive listing for a Bob Evans located at 8325 Benson Drive, Columbia, Maryland 21045. The site consists of roughly 6672 rentable square feet of building space on an estimated 1.75-acre parcel of land. This Bob Evans is subject to a 19-year Triple Net (NNN) lease, which commenced 6/30/2016. The current annual rent is $118,499 and has scheduled increases of 1.50% Annually.
About the Investment
- Ultra Rare Dual Guaranty Bob Evans Lease with Parent Company Post Holdings | The Lease is a unique dual guaranty by Bob Evans parent company, Post Holdings, Bob Evans Farms, Inc. successor company as well as Bob Evans Restaurants, Inc.
- Under Market Pad Rent in Washington DC & Baltimore Market | The site benefits from a very low rent of under $120k for a pad site off a major roadway in Columbia, MD.
- Large Oversize Lot & Superior Demographics | The lot is a large 1.75 acre site allowing for long term use versatility in the affluent Columbia sub-market with a population of over 200,000 residents and AHHI over $145k within a 5-mile radius.
- Long-Term Lease with 1.5% Annual Rent Increases | The property has over 11 years remaining on the primary lease term with annual 1.5% increases to hedge against inflation.
Key Details
| Price: | $2,257,117 |
|---|---|
| Cap Rate: | 5.25% |
| Annual Rent: | $118,499 |
| Address: | 8325 Benson Drive, Columbia, Maryland 21045 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 19 Years |
|---|---|
| Lease Commencement: | 6/30/2016 |
| Lease Expiration: | 4/30/2036 |
| Lease Term Remaining: | 11.4 Years |
| Rental Increases: | 1.50% Annually |
| Lot Size: | 1.75 Acres |
| Building Size: | 6,672 SF |
| Year Built: | 1993 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
David Weber
dweber@nnnpro.com
License: VA: 0225099500 | MD: 574119 | DC: SP98363183
Ken Tamres
ktamres@nnnpro.com
License: VA: 0225205054
Broker of Record
Brian Brockman
Bang Realty, Inc
License: 678573
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.