Bob Evans

• Corporate Absolute NNN Lease | 10.8 Years Remaining: The lease is guaranteed by Bob Evans Restaurants, LLC on an absolute NNN basis with zero landlord responsibilities. Taxes, insurance, CAM, roof, structure, and parking are all tenant obligations.
• Rare 2% Annual Rent Increases: Contractual 2% annual bumps run through both the remaining primary term and every option period, delivering compounding, inflation-protected income that is uncommon in casual dining net lease.
• 7.47% Average Cap Rate Over Remaining Term: Income grows from $182,252 today to $222,164 in the final year of the primary term, taking the yield from a 6.75% entry cap to 8.23% at expiration.
• Six Additional Five-Year Options: Beyond the primary term, the tenant holds six renewal options, providing potential occupancy through 2067. Option rent is set at the greater of 102% of the prior year rent or fair market value, so the landlord participates in any future rent growth.
• Unconditional Rent Obligation: Rent is payable in full without setoff, abatement, deferment, or counterclaim, providing bond-like income to a passive owner.
• Interstate 70 at Exit 155: I-70 carries roughly 48,300 vehicles per day at the site, the primary East-West corridor connecting Columbus to Wheeling and Pittsburgh, generating heavy transient and interstate traffic.
• Underwood Street (State Route 60) Frontage: Roughly 21,000 vehicles per day on the primary commercial artery linking I-70 to downtown Zanesville and the city’s dominant retail node.
• Home-State Location: Ohio is the brand’s home market and its largest concentration of restaurants, with corporate headquarters in New Albany, roughly 45 miles west of the subject property.
• Adjacent Hotel Cluster: Quality Inn sits directly adjacent to the property, with Hampton Inn, Holiday Inn Express, Baymont, and Econo Lodge all within blocks, feeding the breakfast daypart that drives Bob Evans sales.
• Strong Trade Area Spending: The 5-mile trade area holds 48,156 residents and $517.7M in annual consumer spending, with more than $144M spent on food and alcohol.