Description

Fortis Net Lease is pleased to offer this Bob Evans investment opportunity located in Zanesville. The property is secured by approximately 11.5 years remaining on the original 20-year absolute net lease, requiring zero landlord responsibilities, and features rare 2% annual rent increases throughout both the initial term and each of the six five-year renewal options. These structured escalations provide investors with an attractive average cap rate of approximately 7.05% over the remaining lease term. The lease is corporately guaranteed by Bob Evans Restaurants, which operates more than 440 locations nationwide, and the site has reportedly performed strongly since its original construction in 2002. Strategically positioned directly off Exit 155 along Interstate 70, one of the nation’s primary east-west transportation corridors, the property benefits from traffic counts exceeding 47,000 vehicles per day as well as strong visibility near numerous hotels and motels that support consistent customer demand. The surrounding trade area includes a population exceeding 48,000 residents within five miles and substantial consumer spending on food and alcohol, totaling more than $97 million within three miles and over $144 million within five miles annually. Offered at $2,748,893, the asset reflects a 6.50% cap rate based on current net operating income of $178,678, presenting a stable passive investment opportunity backed by a nationally recognized restaurant operator.