Description

Bob Evans at 99 Stubbs Mills Road offers a long-term, single-tenant net-leased restaurant investment in Lebanon, Ohio. The 4,639-square-foot building occupies 2.11 acres and is offered at $2,898,000, reflecting a 6.50% capitalization rate on reported annual NOI of $188,364.

The property is leased to Bob Evans Restaurants, LLC under an absolute NNN structure through July 31, 2043. The tenant is responsible for taxes, insurance, common-area maintenance, roof, parking lot and HVAC, limiting ongoing landlord obligations. The lease includes 2% annual rent increases beginning May 1, 2027 and four additional five-year renewal options.

Built in 1999, the freestanding restaurant sits approximately one mile from downtown Lebanon near East Main Street and State Route 48. Nearby national retailers and restaurants include CVS Pharmacy, McDonald’s, Wendy’s, Subway and Taco Bell, providing an established commercial setting and convenient local access.

The combination of corporate-backed tenancy, scheduled rent growth, long remaining lease term and a sizable parcel positions the asset for investors seeking durable net-lease income from a recognized restaurant brand.