Overview

Description

SRS National Net Lease Group 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 La Vale, Maryland. 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 National Highway, which averages 13,300 vehicles passing by daily and is the major retail thoroughfare serving the city of La Vale. The property is positioned just north of Country Club Mall, a 594,000 square foot center which features national/credit tenants including a Walmart Supercenter and T.J. Maxx. Additionally, the asset is located northeast of Braddock Square, a 259,000 square foot Kohl’s and Gabe’s anchored shopping center. Furthermore, the site is located just northeast of La Vale Plaza, a 138,000 square foot center anchored by Dunham’s Sports. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Lowe’s Home Improvement, JOANN, Dollar Tree, Tractor Supply Co, CVS Pharmacy, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 43,400 residents and 20,700 employees. Residents within a 1-mile radius have an affluent average household income of $104,272.

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