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Bob Evans Restaurant 13101 S US Highway 27

3,920 SF 100% Leased Retail Building Dewitt, MI 48820 $2,042,104 ($521/SF) 6.75% Cap Rate

Restaurants Michigan Dewitt 13101 S US Highway 27, Dewitt, MI 48820

Investment Highlights

  • Freestanding retail building located at the corner of Old U.S. 27 and Commerce Park Drive.
  • Located near a bustling shopping area, including the high-traffic Eastwood Towne Center.
  • Occupied by a triple-net tenant, Bob Evans, with a secure lease term through 2037.
  • Situated less than three miles from Downtown DeWitt, offering easy access to community amenities.

Executive Summary

The property is an NNN lease with Bob Evans Restaurants, with a lease term extending through April 2037. There are six 5-year renewal options, and it includes an assumable 5% mortgage.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
3,920 SF
Year Built
1998
Price
$2,042,104
Price Per SF
$521
Cap Rate
6.75%
NOI
$137,842
Percent Leased
100%
Building Height
1 Story
Building FAR
0.08
Lot Size
1.15 AC

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Bob Evans Restaurants
  • -
  • -
  • -
  • Triple Net
  • Apr 2037
Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Bob Evans Restaurants - - - Triple Net Apr 2037
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DEMOGRAPHICS

Demographics

1 Mile 1 Mi. 3 Miles 3 Mi. 5 Miles 5 Mi.
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
3,263
17,425
40,446
87,676
2029 Population
3,362
17,807
41,235
88,549
2024-2029 Projected Population Growth
3.0%
2.2%
2.0%
1.0%
Median Age
43.3
42.7
38.8
36.3
College Degree + Higher
44%
40%
37%
23%
Daytime Employees
1,307
3,813
22,160
58,312
Total Businesses
191
575
2,083
5,315
Average Household Income
$100,996
$104,042
$88,515
$80,986
Median Household Income
$87,911
$85,940
$68,984
$60,695
Total Consumer Spending
$45M
$238.8M
$519.7M
$1.1B
2024 Households
1,288
6,801
16,571
37,868
Average Home Value
$279,718
$294,290
$262,661
$231,121

Nearby Major Retailers

Bob Evans Restaurants
Fifth Third Bank
Meijer
PNC Bank
Tim Hortons
(517) 903-2202

Contact

  • Joseph Aievoli
    Joseph Aievoli
  • Century Legend Management Inc.

  • Listing ID: 33788800

  • Date on Market: 11/7/2024

  • Last Updated:

  • Address: 13101 S US Highway 27, Dewitt, MI 48820

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Bob Evans Restaurant | 13101 S US Highway 27
(517) 903-2202 x

Bob Evans Restaurant | 13101 S US Highway 27

Joseph Aievoli

(517) 903-2202

(517) 903-2202

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