Overview

Description

SRS National Net Lease Group in collaboration with Hoty Enterprises is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate signed, Bob Evans investment property located in Steubenville, Ohio. The tenant, Bob Evans Restaurants, LLC, recently signed a brand new 20 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features annual 2% rental increases starting in May 2027 and continuing throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free-investment opportunity for a passive investor.

The property is located along Sunset Boulevard, which averages 21,600 vehicles passing by daily and is the major retail thoroughfare serving the city of Steubenville. The Bob Evans is positioned across Sunset Blvd from Hollywood City Center, a 309,000 square foot center which features national/credit tenants including Kroger and T.J. Maxx. Additionally, the asset is a few miles west of Fort Steuben Mall, a 669,000 square foot Walmart Supercenter anchored mall. Furthermore, the site is located just northwest of Rural King Plaza, a 217,000 square foot center anchored by Rural King. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Lowe’s Home Improvement, Target, ALDI, Planet Fitness, Aaron’s, Dollar Tree, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 50,200 with an average household income of $69,366.

---