Listing Summary
Prime Bob Evans in Lebanon, OH for sale at $2,898,000. Features an 18-year absolute NNN lease, corporate guarantee, annual rent increases, and 30,000+ VPD.
Full Description
Single-Tenant Corporate Net-Leased Investment | Bob Evans | Lebanon, OH
Executive Summary An exceptional single-tenant commercial retail property is available for acquisition in Lebanon, Ohio, priced at $2,898,000. Positioned on a premier retail corridor just one mile from historic Downtown Lebanon, this 4,639-square-foot asset is 100% occupied under a long-term, 18-year absolute NNN lease. Corporate-backed by Bob Evans Restaurants, LLC (operating 440+ locations), the lease structure offers investors completely passive, predictable income with steady 2% annual rental escalations beginning May 1, 2027, plus four 5-year renewal options extending potential lease longevity up to 40 years.
Investment & Property Snapshot
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Offering Price: $2,898,000
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Building Size: 4,639 SF
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Year Built: 1999
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Tenant / Guarantor: Bob Evans Restaurants, LLC (Corporate Guarantee)
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Lease Type: Absolute Triple Net (NNN) Ground/Retail Lease (Zero Landlord Responsibilities)
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Term Remaining: ~18 Years Firm Initial Term
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Rent Escalations: 2% Annual Rental Increases Starting May 1, 2027
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Renewal Options: Four (4), Five-Year Options (Up to 40 Years total term)
Key Investment Highlights
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Long-Term Passive Cash Flow: The 18-year absolute NNN lease structure eliminates all landlord management and maintenance duties, providing a hands-off revenue stream ideal for 1031-exchange buyers.
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Inflation-Protected Income: Built-in 2% annual rent escalations hedge against inflation and compound yield throughout the primary term and option periods.
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National Corporate Guarantee: Guaranteed by Bob Evans Restaurants, LLC, a dominant regional restaurant operator with a network of over 440 locations nationwide.
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Strong Real Estate Fundamentals: Built in 1999, the 4,639 SF building sits within a high-density, high-demand commercial retail hub serving Warren County.
Strategic Lebanon, OH Location & Submarket Drivers Located approximately one mile from historic Downtown Lebanon, the property benefits from robust traffic counts exceeding 30,900 vehicles per day along State Route 48 and 18,900 vehicles per day along East Main Street. The asset sits at the center of a dense regional trade area alongside national tenants such as CVS Pharmacy, Big Lots, McDonald's, Burger King, Family Dollar, Wendy's, Subway, Arby's, Taco Bell, Advance Auto Parts, and AutoZone. Proximity to local tourist destinations like the Golden Lamb Inn and Harmon Museum guarantees a steady stream of regional visitors, making this a reliable long-term net-leased acquisition.
Quick Glance
- Listing ID:
CL-Ohio-28416
- Status:
Active
- Year Build:
1999
- Building Size:
4,639 SqFt
- Lot Size:
2.11 Acr
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