Bob Evans | 907 Venture Dr
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Bob Evans 907 Venture Dr
5,264 SF Retail Building Smithfield, NC 27577 $1,617,883 ($307/SF) 6% Cap Rate
Investment Highlights
- Long-Term, 20-Year Absolute Triple Net (NNN) Lease ? Approximately 12.50 Years Remaining
- Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 40 Years
- Two Percent (2%) Annual Rental Increases Starting May 1st 2027
Executive Summary
NNN Pro Group is pleased to present the exclusive listing for a Bob Evans located at
907 Venture Drive in Smithfield, NC. The site consists of roughly 5,264 rentable square
feet of building space on estimated 2.07-acre parcel of land. This Bob Evans is subject
to a 20-year absolute triple-net (NNN) lease, which commenced April 28th, 2017. The
current annual rent is $97,073 and is scheduled to increase 2% annually throughout
the base term as well as in each of the 4, 5-year renewal options.
907 Venture Drive in Smithfield, NC. The site consists of roughly 5,264 rentable square
feet of building space on estimated 2.07-acre parcel of land. This Bob Evans is subject
to a 20-year absolute triple-net (NNN) lease, which commenced April 28th, 2017. The
current annual rent is $97,073 and is scheduled to increase 2% annually throughout
the base term as well as in each of the 4, 5-year renewal options.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,264 SF
Building Class
B
Year Built/Renovated
2003/2014
Price
$1,617,883
Price Per SF
$307
Cap Rate
6%
NOI
$97,073
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
2.07 AC
Zoning
SUP
Parking
68 Spaces (12.92 Spaces per 1,000 SF Leased)
Frontage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 15L11008M | Improvements Assessment | $655,160 |
| Land Assessment | $844,840 | Total Assessment | $1,500,000 |
PROPERTY TAXES
Parcel Number
15L11008M
Land Assessment
$844,840
Improvements Assessment
$655,160
Total Assessment
$1,500,000
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Bob Evans | 907 Venture Dr
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