About This Restaurant
Investment Highlights
Strong Corporate Guaranty Adjacent to Charles Pointe Masterplan Development Adjacent to Nearby Hotel | 107 Door Count Abs NNN Lease | No LL Responsibility | 2% Annual Rent Increases Starting in 2027 10 Min from FBI Criminal Justice Information Services Division | 3,500 Jobs on Site Less than 4 Miles from Award Winning Hospital | 300 Bed Count
Executive Summary
Northmarq is pleased to offer for sale the exclusive singletenant Bob Evans Restaurant located in Bridgeport, WV. This Property is advantageously positioned on the I-79 highway off-ramp, directly across from Meadowbrook Mall, which hosts a variety of tenants including Target, Chick-fil-A, JC Penney, Dick?s Sporting Goods, and Boscov?s. The Property features a corporate guarantee and an Absolute NNN lease with a 20-year base term, including 2% annual rent increases starting in 2027 and extending throughout option periods. Its strategic location along the I-79 freeway ensures excellent visibility, with nearly 20 million cars passing annually. Additionally, Bob Evans is less than half a mile from the new Charles Pointe Masterplan Development. This $1.5 billion, 1,700-acre master-planned community integrates residential, commercial, retail, office, and civic land uses to create a new community for the city. Over 400 residential units have already been constructed, with plans for more than 2,300 upon completion. The development also includes a 67-acre retail area under construction, which will offer 650,000 square feet of retail, restaurant, and hospitality spaces.
Property Details
- Sale Type Investment
- Property Type Retail
- Property Subtype Restaurant
- Building Size 5,141
- Building Class B
- Year Built 1990
- Price 2,751,114
- Price Per SF 535
- Cap Rate 7
- NOI 192,578
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.09
- Land Acres 1.27 AC
Amenities
- Freeway Visibility
- Pylon Sign
- Restaurant
- Signage
Property Taxes
Parcel Number | 16-289-00090001 | Improvements Assessment | $280,020 |
Land Assessment | $342,480 | Total Assessment | $622,500 |
Date Created: | 2024-07-16 04:25:44 | Last Updated: | 2024-07-16 04:25:44 |
Address: | 1607 Johnson Ave , Bridgeport, West Virginia, 26330 |