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13010 S Old Us-27 3,978 SF Retail Building Dewitt, MI 48820 $1,950,391 ($490.29/SF) 7.50% Cap Rate
Investment Highlights
- Strong Corporate Tenant – Bob Evans Restaurants, LLC serves as the tenant, offering investors the security of a well-established corporate operator.
- Affluent Trade Area – The property benefits from strong surrounding demographics, with an average household income exceeding $131,401
- Proven Operating History – This Bob Evans location has successfully operated at the site for over 17 years, reflecting consistent sales performance
- Built-In Rental Growth – The lease features 2% annual rent escalations, delivering predictable income growth throughout the lease term.
- High Traffic Exposure – Strategically positioned along U.S. Highway 27, the site enjoys excellent visibility and accessibility with traffic counts
- Absolute NNN Lease Structure – The absolute triple-net lease provides a truly passive investment, with zero landlord responsibilities and stable
Executive Summary
Broker of Record
Matt Fitzgerald
License # 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Matt Fitzgerald
License # 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,978 SF
Building Class
B
Year Built
1996
Price
$1,950,391
Price Per SF
$490.29
Cap Rate
7.50%
NOI
$146,279
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.27 AC
Zoning
BC
Parking
80 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
168’ on S Old Us-27
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
Bob Evans Restaurants is a chain of family style restaurants founded and headquartered in Columbus, Ohio, which owns and operates nearly 500 locations in 18 states, primarily in the Midwest, mid-Atlantic and Southeast regions of the United States. Bob Evans believed in treating strangers like friends and friends like family; and those principles are alive today at every Bob Evans Restaurant. As a private company owned by Golden Gate Capital, Bob Evans Restaurants is focused on providing quality food and hospitality to every guest at every meal, each and every day.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 050-015-200-036-00 | Improvements Assessment | $237,700 |
| Land Assessment | $230,100 | Total Assessment | $467,800 |
Property Taxes
Parcel Number
050-015-200-036-00
Land Assessment
$230,100
Improvements Assessment
$237,700
Total Assessment
$467,800
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