About This Restaurant
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
NNN Pro Group is pleased to present the exclusive listing for a Bob Evans located at 20465 Eureka Rd in Taylor, Michigan. The site consists of roughly 5,578 rentable square feet of building space on estimated 1.68-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 $191,000 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.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Restaurant
- Building Size 5,578
- Building Class B
- Year Built 2000
- Price 2,728,571
- Price Per SF 489
- Cap Rate 7
- NOI 191,000
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.08
- Land Acres 1.68 AC
Amenities
- Bus Line
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
Nearby Amenities & Transportation
| Retail | Denny's | ||
| Retail | Bob Evans | ||
| Retail | Golden Corral | ||
| Retail | Tim Hortons | ||
| Retail | Hooters | ||
| Retail | ALDI | ||
| Retail | Bubba's 33 | ||
| Retail | Leo's Coney Island | ||
| Retail | Outback Steakhouse | ||
| Retail | Red Robin |
Property Taxes
| Parcel Number | 60-093-99-0004-001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $408,200 |
| Date Created: | 2024-07-16 04:16:19 | Last Updated: | 2024-07-16 04:16:19 |
| Address: | 20465 Eureka Rd , Taylor, Michigan, 48180 | ||