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Bob Evans 23 Huber Village Blvd 5,891 SF Retail Building Westerville, OH 43081 $3,550,000 ($602.61/SF) 6.60% Cap Rate



INVESTMENT HIGHLIGHTS
- Long Term Tenant
- Zero Landlord Responsibilities
- Strategic Retail Location
- Scheduled Rent Increases
- Dynamic Tenant
- Area Economic Drivers
EXECUTIVE SUMMARY
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a freestanding Bob Evans investment property located at 23 Huber Village Boulevard in Westerville, Ohio (the “Property”). Bob Evans signed a new 20-year lease in 2017 demonstrating their commitment to the site and the market. Bob Evans has 11+ years remaining on their Absolute NNN lease with six (6), 5-year renewal options. The lease features attractive 2% annual rent increases throughout the primary lease term and the renewal options. Bob Evans enjoys excellent frontage and visibility at the signalized intersection of Huber Village Boulevard and S State Street (OH Route 3), the area’s primary commercial and commuter corridor. Bob Evans is positioned just south of Downtown Westerville and enjoys convenient access to the area schools, national retailers and restaurants and several office and industrial complexes that drive traffic to the area. Additionally, the Property is close to Westerville’s densely populated residential neighborhoods, Otterbein University, and Mount Carmel-St Ann’s Medical Center (Hospital). Westerville is in central Ohio approximately 12-miles north of Columbus.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,891 SF
Building Class
B
Year Built
1980
Price
$3,550,000
Price Per SF
$602.61
Cap Rate
6.60%
NOI
$234,331
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
0.85 AC
Zoning
CC - Community Commerical
Frontage
145’ on Huber Village Blvd
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 080-007348 | Improvements Assessment | $220,960 |
| Land Assessment | $147,350 | Total Assessment | $368,310 |
PROPERTY TAXES
Parcel Number
080-007348
Land Assessment
$147,350
Improvements Assessment
$220,960
Total Assessment
$368,310
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Bob Evans | 23 Huber Village Blvd
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