1203 National Hwy - Restaurant FOR SALE


Lavale, MD 21502
$3,047,000 USD
703-408-1577
1203 National Hwy, Lavale, MD for Sale
$3,047,000 USD
Restaurant - FOR SALE
1/2
null | 7% Cap Rate

1203 National Hwy
Lavale, MD 21502


HIGHLIGHTS

  • Long-Term Lease With 2% Annual Rent Increases | Tenant recently renewed their lease in 2023 for 20 years and currently has 18 years remaining
  • Passive Absolute NNN Lease | Tenant pays for all CAM, taxes, insurance and all maintenance with the property. No landlord responsibilities
  • Corporate Guaranteed Lease | The lease is guaranteed by Bob Evans Restaurants, LLC with over 440 corporate locations

OVERVIEW

Surmount is pleased to present the exclusive listing for a Bob Evans located at 1203 National Highway, La Vale, Maryland 21502. The site consists of roughly 5804 rentable square feet of building space on an estimated 1.35-acre parcel of land. This Bob Evans is subject to a 20-year Triple Net (NNN) lease, which commenced 7/24/2023. The current annual rent is $213,303 and has scheduled increases of 2.00% Annually.

FOR SALE DETAILS

PRICE

$3,047,000 USD

PRICE/SF

$529 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bob Evans

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.35 AC

LAND SF

58,893 SF

ZONING

B

APN/PARCEL ID

29-043248

ASK ABOUT THIS PROPERTY

Kenneth TamresNNN Pro GroupMore Info
703-408-1577

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Kenneth TamresNNN Pro GroupMore Info
703-408-1577

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.