7781 Dudley DrWest Chester Township, OH 45069
Bob Evans
BELOW MARKET ABSOLUTE NNN LEASE WITH 2% ANNUAL INCREASES AND 11.5+ YEARS REMAINING
Overview
Cushman & Wakefield is pleased to present the opportunity to purchase a corporate Bob Evans with an over 38 year operating history in one of Cincinnati’s most affluent areas. Bob Evans pays a below market rent of just $182,251/Year with rare 2% annual increases creating a hedge against inflation. The property sits along the heavily traveled Tylersville Rd (34,122 VPD) with immediate access to I-75 (133,852 VPD). The property is being offered for $2,915,000 which equates to a 6.25% cap rate on Year One rent.
Investment Highlights
Attractive Lease Terms
- Absolute NNN, Zero landlord responsibilities
- Rare 2.0% annual rent increases
- +/-11.5 Years remaining
- Six 5-Year Renewal options with annual increases
- Below market rent at just $182,251
Dominant Retail Trade Area
- Strong Surrounding Destinations
- UC Health West Chester (1.3 MM Annual Visits)
- Home Depot (756k Annual Visits)
- Target (1.6 MM Annual Visits)
- Kroger (1.1 MM Annual Visits)
- Voice of America MetroPark (1.4 MM Annual Visits)
Strategic Location
- Along Tylersville Rd (34,122 VPD)
- Immediate access to I-75 (133,852 VPD)
- Signalized Intersection
Outstanding 3 Mile Radius Demographics
- Population: 62,089
- Avg HH Income: $135,421
- 2024-2029 Projected Population Growth: 3.5%
Strong National Tenant
- Corporate Bob Evans Lease
- Operate 424 locations across 18 States
- Headquartered in New Albany, OH
- Over 77-Year track record of success
Investment Highlights
Details
Price
$2,915,000
Cap Rate
6.25%
Year 1 NOI
$182,251.62
Rental Increases
2.0% Annually
Lease Type
Absolute NNN
Lease Commencement
June 30, 2017
Lease Expiration
April 30, 2037
Photo Gallery
7781 Dudley DrWest Chester Township, OH 45069
Listing provided by Revere CRE