Bob Evans 510 Commerce Dr

Investment Highlights

Long-Term, 20-Year Absolute Triple Net (NNN) Lease Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 40 Years Two Percent (2%) Annual Rental Increases Starting May 1st 2027

Executive Summary

Bang Realty is pleased to present the exclusive listing for a Bob Evans located at 510 Commerce Drive, in Bluefield, Virginia. The site consists of roughly 5,230 rentable square feet of building space on estimated 0.98-acre parcel of land. This Bob Evans is subject to a 20-year absolute triple-net (NNN) lease, which commenced July 24th, 2023. The current annual rent is $180,405 and is scheduled to increase 2% annually starting on May 1st 2027 and throughout the base term as well as in each of the 4, 5-year renewal options.

• Sale Type    Investment NNN
• Property Type    Retail
• Property Subtype    Restaurant
• Building Size    5,558
• Building Class    C
• Year Built    2005
• Price    2,577,214
• Price Per SF    464
• Cap Rate    7
• NOI    180,405
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.13
• Land Acres    0.98 AC

• Bus Line
• Pylon Sign
• Restaurant
• Signage