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Bob Evans 1607 Johnson Ave

5,141 SF Retail Building Bridgeport, WV 26330 $2,751,114 ($535/SF) 7% Cap Rate

Investment Highlights

  • Property Placed in 65th Percentile by Placer.Ai | Top Location in a 15-Mile Radius
  • Abs NNN Lease | No LL Responsibility | 2% Annual Rent Increases Starting in 2027
  • 10 Min from FBI Criminal Justice Information Services Division | 3,500 Jobs on Site
  • Strong Corporate Guaranty
  • Adjacent to Charles Pointe Masterplan Development
  • Adjacent to Nearby Hotel | 107 Door Count

Executive Summary

Northmarq is pleased to offer for sale the exclusive singletenant Bob Evans Restaurant located in Bridgeport, WV. This Property is advantageously positioned on the I-79 highway off-ramp, directly across from Meadowbrook Mall, which hosts a variety of tenants including Target, Chick-fil-A, JC Penney, Dick’s Sporting Goods, and Boscov’s. The Property features a corporate guarantee and an Absolute NNN lease with a 20-year base term, including 2% annual rent increases starting in 2027 and extending throughout option periods. Its strategic location along the I-79 freeway ensures excellent visibility, with nearly 20 million cars passing annually. Additionally, Bob Evans is less than half a mile from the new Charles Pointe Masterplan Development. This $1.5 billion, 1,700-acre master-planned community integrates residential, commercial, retail, office, and civic land uses to create a new community for the city. Over 400 residential units have already been constructed, with plans for more than 2,300 upon completion. The development also includes a 67-acre retail area under construction, which will offer 650,000 square feet of retail, restaurant, and hospitality spaces.

Attachments

Download Full OM

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,141 SF
Building Class
B
Year Built
1990
Price
$2,751,114
Price Per SF
$535
Cap Rate
7%
NOI
$192,578
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Land Acres
1.27 AC
Zoning
C - Commercial
Parking
84 Spaces (16.34 Spaces per 1,000 SF Leased)
Frontage
337 FT on Johnson Ave

Amenities

  • Freeway Visibility
  • Pylon Sign
  • Restaurant
  • Signage

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
16-289-00090001
Land Assessment
$280,020
Improvements Assessment
$354,240
Total Assessment
$634,260
  • Listing ID: 32001871

  • Date on Market: 6/3/2024

  • Last Updated:

  • Address: 1607 Johnson Ave, Bridgeport, WV 26330

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