Bob Evans
Elizabethtown, KY
Key Details
| Price: | $1,943,923 |
|---|---|
| Cap Rate: | 6.50% |
| Annual Rent: | $126,355 |
| Address: | 1708 North Dixie Highway, Elizabethtown, Kentucky 42701 |
| 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: | 12.3 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 0.87 Acres |
| Building Size: | 3,459 SF |
| Year Built: | 1985 |
NNN Pro and Bang Realty are pleased to present the exclusive listing for a Bob Evans located at 1708 North Dixie Highway, Elizabethtown, Kentucky 42701. The site consists of roughly 3459 rentable square feet of building space on an estimated 0.87-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 $126,355 and has scheduled increases of 2.00% Annually.
About the Investment
- Long-Term NNN Lease | The site is subject to a 20 year lease with over 12 years remaining and no landlord responsibilities.
- 30 Years of Renewal Options | This lease features 6, 5-year options which brings the ultimate lease term to 50 years.
- Attractive Rental Increases | This lease features 2.00% annual rental increases in both the base term and options, providing significant income growth.
- Strong Corporate Guarantee | Bob Evans operates over 440 corporate locations throughout the United States.
Key Details
| Price: | $1,943,923 |
|---|---|
| Cap Rate: | 6.50% |
| Annual Rent: | $126,355 |
| Address: | 1708 North Dixie Highway, Elizabethtown, Kentucky 42701 |
| 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: | 12.3 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 0.87 Acres |
| Building Size: | 3,459 SF |
| Year Built: | 1985 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Matthew Anuszkiewicz
manuszkiewicz@nnnpro.com
License: NY: 10401294046
Joseph Kelly
jkelly@nnnpro.com
License: NY: 10401386896
Broker of Record
Brian Brockman
Bang Realty, Inc
License: 204982
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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.