Bob Evans
Smithfield, NC
Key Details
| Price: | $1,617,883 |
|---|---|
| Cap Rate: | 6.00% |
| Annual Rent: | $97,073 |
| Address: | 907 Venture Drive, Smithfield, North Carolina 27577 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 4/28/2017 |
| Lease Expiration: | 4/30/2037 |
| Lease Term Remaining: | 12.4 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 2.07 Acres |
| Building Size: | 5,264 SF |
| Year Built: | 2003 |
| Year Renovated: | 2014 |
NNN Pro is pleased to present the exclusive listing for a Bob Evans located at 907 Venture Drive, Smithfield, North Carolina 27577. The site consists of roughly 5264 rentable square feet of building space on an estimated 2.07-acre parcel of land. This Bob Evans is subject to a 20-year Triple Net (NNN) lease, which commenced 4/28/2017. The current annual rent is $97,073 and has scheduled increases of 2.00% Annually.
About the Investment
- Long-Term, 20-Year Absolute Triple Net (NNN) Lease ✓ Approximately 12.50 Years Remaining
- Two Percent (2%) Annual Rental Increases Starting May 1st 2027
- Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 40 Years
- Corporate Guarantee From Bob Evans Restaurants, LLC (440+ Corporate Locations)
Key Details
| Price: | $1,617,883 |
|---|---|
| Cap Rate: | 6.00% |
| Annual Rent: | $97,073 |
| Address: | 907 Venture Drive, Smithfield, North Carolina 27577 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 4/28/2017 |
| Lease Expiration: | 4/30/2037 |
| Lease Term Remaining: | 12.4 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 2.07 Acres |
| Building Size: | 5,264 SF |
| Year Built: | 2003 |
| Year Renovated: | 2014 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Russell Wachtler
rwachtler@nnnpro.com
License: NY: 10401294048
Edward DeMatteis
edematteis@nnnpro.com
License: NY: 10401375705
Broker of Record
Brian Brockman
Bang Realty-North Carolina, Inc
License: 298998
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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.