104 Merchants Walk
Summersville, WV 26651

The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 100% fee simple interest in the single-tenant Bob Evans ground lease location in Summersville, West Virginia. The corporately-backed and operated restaurant is being offered for $672,000, representing a 6.25% CAP Rate. The 5,149 S.F. building was built in 1999 to accommodate its single-tenant user, Bob Evans, who hand-picked this particular location for its expansion in the West Virginia market and has continuously operated at the property since. Bob Evans is on an Absolute NNN lease structure with 5 years of term remaining. The tenant just exercised their first option to extend and have 3 more 5-year options available. Bob Evans handles ALL on-site maintenance, including roof repair/replacement and structure, leaving ownership with NO management responsibilities (see page 6 of OM); perfect for a hands-off, passive investor. The asset also benefits from surrounding retailers, specifically high-traffic generators Walmart Supercenter, Lowes, Walgreens, Hampton Inn, Food Lion, Burkes Outlet, Marquee Cinemas, Super 8 by Wyndham, Big Lots, Peebles, LaQuinta Inn and Suites by Wyndam (next to featured asset) and many more further enhancing traffic flow around the property. The retail corridor is surrounded by a strong residential community with average household incomes over $65,000 within a 3-miles and draws from a wide radius as the next closest major city with retail options is over 25 miles away. Summersville is the county seat of Nicholas County and hosts all county offices, along with other major employers. As of 2018, Summersville has been home to a major economical increase due to a 303-mile natural gas pipeline running through eastern Nicholas county, bringing more than 1,000 people to the county generating more revenue for businesses and lodging. Mountain Valley Pipeline has ongoing operation with stable employment to the city. Furthermore, the region is supported by Summersville Regional Medical Center(500 employees), which is located 0.5 miles and is part of the WVU Medicine systems. The 77-bed hospital offers a complete array of services including surgical procedures, imaging services, outpatient and inpatient laboratory testing, rehabilitation, an outpatient infusion facility, 24-hour emergency care, and retail pharmacy. Other employers include, New River Community & Technical College, Metalcraft Mining & Equipment Rebuilders, along with the vast retail corridor. The immediate area also provides world-class outdoor recreational activities, such as whitewater rafting on the Gauley or New rivers, boating on Summersville Lake, or hiking along the Muddlety Creek Trail. Coupling all of the attributes, this Bob Evans location provides an investor an opportunity to purchase stable tenant with long-term operating history and zero management responsibilities in a prime retail corridor an at an attractive price point.