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Bob Evans Restaurants
1850 East Dorothy Lane - Kettering, OH 45429
Sands Investment Group is Pleased to Present For Sale the Bob Evans Absolute NNN Asset Located in Kettering, Ohio. Just Two Years Ago, the Tenant Signed a Brand-New 20-Year Lease, Reaffirming Their Commitment to This Established Location. With 18+ Years Remaining, This Offering Provides a Secure, Passive Income Stream Backed By a Nationally Recognized Brand. Strategically Positioned in a High-Traffic Retail Corridor, This Property Benefits From Excellent Visibility, Strong Consumer Demand, and a Thriving Local Economy. This as a Rare Opportunity to Acquire a Stable, Long-Term Investment With a Well-Established National Tenant.
- Long-Term Absolute Triple Net (NNN) Lease With 18+ Years of Term Remaining
- Attractive Increases – 2% Annual Bumps Starting May 1, 2027, Provide Significant Hedge to Inflation
- Corporate Guaranteed Lease – Bob Evans Restaurants, LLC (450+ Corporate Locations)
- Strategic Access Off of Dorothy Lane Boasting 20k+ VPD and is a Major Thoroughfare Through the Kettering Retail Corridor and Notable Shadow Anchorage to ALDI
- Seasoned Location – Bob Evans Has Successfully Operated This Location For Over 20+ Years and Has Been a Fixture of the Local Kettering Community
- Site Commitment – Tenant Recently Signed a Brand New 20 Year Lease Showcasing Intent to Remain at the Site
In Cooperation With ParaSell, Inc. , A Licensed Ohio Broker – Lic. #REC.2020005946 BoR: Scott Reid – Lic. OH #BRKP.2020001224
Bob Evans Restaurants
1850 East Dorothy Lane - Kettering, OH 45429
BOB EVANS
Rooted in the agricultural heritage of founder Bob Evans, whose humble Farmhouse Kitchen laid the foundation for our restaurants over 70 years ago, Bob Evans continues to embody the spirit of farm-fresh ingredients and hospitality today. Today’s Bob Evans Farmhouse Kitchen remains true to tradition, utilizing fresh ingredients and fresh preparation in every dish across our nearly 450 locations in 18 states. From the classic Farmer’s Choice Breakfast to the slow-roasted, hand-carved turkey dinner, each bite reflects our dedication to delivering America’s Farm Fresh at every meal, every day.
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Price
$2,645,869
Cap Rate
6.50%
PREMISES
5,247 SF
RENEWAL OPTIONS
4 × 5 Year Options
Lease Expiration
07/31/2043
Lease Type
Absolute NNN
RENTAL INCREASES
2% Annual Bumps Starting May 1st 2027
BROKERS
Scott Reid, ParaSell LLC
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To receive access to this OM, please review and sign our confidentiality agreement:
Sands Investment Group (“Broker”) is presenting for sale the Subject Property (“Property”) referenced above, by the Property’s owner (the “Owner”). Our agreement with the Owner requires that we obtain a Non-Disclosure before disclosing the name and location of his/her location of his/her business. The undersigned (“Recipients”) hereby acknowledge and agree that certain confidential information that has been or may be disclosed is intended solely for Recipients’ limited use in considering whether to pursue negotiations to acquire the Property.
Neither the Owner of the Property nor Broker or any of their respective officers, employees or agents, make any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential information and no legal liability is assumed or shall be implied with respect thereto. Information provided has been or will be gathered from sources that are deemed reliable; however, neither Owner nor Broker warrants or represents that the information is true or correct. Recipients are advised to verify information independently. Owner and/or Broker reserve(s) the right to change the Property’s purchase price, or any Property or market information provided, or to withdraw the Property from the market at any time without notice.
Recipients agree that the information provided by Broker is confidential and as such, agrees to hold and treat such information in the strictest of confidence. In addition, Recipients agree not to disclose, directly or indirectly, or permit anyone else to disclose this information to any person, firm or entity without prior written authorization of Owner or Broker and not use, or permit to be used this information in any fashion or manner detrimental to the interests of Owner or Broker. Photocopying or other duplication of such confidential information is strictly prohibited. Recipients agree not to contact the Property’s tenant(s), leasing brokers, or property management staff in connection with Recipients’ review of the Property or confidential information. IN ADDITION, THE CONFIDENTIAL INFORMATION SHALL NOT BE DEEMED AS REPRESENTATIVE OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OR PREPARATION OF THE OFFERING MEMORANDUM.
While Owner and/or Broker may discuss the purchase and sale of the Property with Recipients, either Owner or Broker, in our sole and absolute discretion, may terminate sale discussions at any time and for any reason. Recipients acknowledge that neither Owner nor Broker has any obligation to discuss or agree to the sale of the Property. The acquisition discussions may be lengthy and complex. Notwithstanding that the parties may reach one or more oral understandings or agreements on one or more issues, neither of the parties shall be bound by any oral agreement of any kind, and no rights, claims, obligations or liabilities of any kind, either expressed or implied, shall arise or exist in favor of or be binding upon either Owner or Broker except to the extent expressly set out in a written agreement signed by both Owner and Broker.
This letter will further confirm that Recipients understand that Broker is presenting the information on the above-referenced Property and that Recipients agree that all initial correspondence and agreements pertaining to the opportunities and subsequent purchase shall be submitted through Agent. Prospective Buyer shall not contact the Owner directly unless given written permission by Agent or act either directly, indirectly, through any third parties including affiliates, other clients or other brokers to circumvent the purpose of this Agreement.
The term of this Agreement is for one (1) year from the date below, which shall be automatically extended through any ongoing negotiations, escrow periods or closing of any purchase and sales transaction(s) for the opportunity entered into by Prospective Buyer or its affiliates during the term hereof.
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