Bob Evans Restaurant [Bridgeport]
$3,145,000
For Sale
3139
Property ID
5,141 SqFt
Size
Description
Description
This Bob Evans is located at 1607 Johnson Avenue in Bridgeport, West Virginia. Bridgeport is a city in Harrison County, West Virginia. Bridgeport is conveniently located in central West Virginia, two hours north of the State Capital, Charleston, West Virginia. The city is also located two hours south of Pittsburgh, Pennsylvania. Surrounding Retail and Points of Interest The subject property is well-positioned in a dense retail corridor, benefitting from it’s proximity to major national and local tenants. Nearby national tenants include: Target, Dick’s Sporting Goods, Sears, Marshalls, Old Navy, Chick-fil-A, Outback, Subway, Sheetz, Toys R Us, GNC, Outback Steakhouse, Exxon, GameStop, and Burger King among various others. The United Hospital Center is located less than four miles from the subject Bob Evans property. The hospital is a 264 bed general medical and surgical hospital. 56,174 individuals visited the hospitals emergency room in the most recent years survey data. The North Central West Virginia Airport is also located within four miles of the Bob Evans property. The airport has more than 10,000 enplanements each year. Bridgeport High School and Bridgeport Middle School are both located within two miles of the subject property. The schools have combined yearly enrollment of more than 1,250 students. Traffic Counts and Demographics There are approximately 11,427 people within a three-mile radius of this property and more than 38,100 within a five-mile radius. The property is situated directly off of Interstate-79. This portion of Interstate-79 has average daily traffic counts of 20,184 vehicles. This site benefits from its location in an affluent community. The average household income in a one-mile radius is$93,065 Morgantown, West Virginia Twenty miles from this Bob Evans Property is Morgantown, West Virginia. Morgantown is the largest city in North-Central West Virginia and offers plenty of opportunity for business development and expansion as this is one of the major growth areas of the State. Morgantown continues to grow and develop in many areas including housing, manufacturing, research, and commercial sectors. An extensive health care network and the continued growth of advanced technology industries along the “I-79 High Tech Corridor” helps to ensure a bright future for the town. Other key industries include engineering, construction, mining, and energy. It is also one of the fastest growing counties in the State. Morgantown is home to West Virginia University, the largest institution of higher education in the State and is the medical, cultural and commercial hub of the region.
Highlights
- Attractive Rent Escalations | Two Percent Annually
- 20 Year Triple-Net (NNN) Lease
- Corporate Tenant; Lease Backed by Roughly 500 Corporate Locations
- Strong Real Estate Characteristics: Dense Retail Corridor
- Inherent Value: Rent/SF at or Below Market, Low Price/SF Compared to National Average
Sale Notes
Marcus & Millichap is pleased to present the exclusive listing for a Bob Evans Property. The property consists of approximately 5,141 square feet of building space and is situated on approximately 1.26 acres of land.
The property is subject to a 20-year triple net (NNN) lease. The lease commenced on April 28, 2017. The current rent is $188,700 with two percent annual rental increases. The increases will continue through the six, five-year tenant renewal options. The tenant is a newly formed entity consisting of all Bob Evans Restaurants.
Address
Address:
1607 Johnson Ave, Bridgeport, WV 26330, USA
- Country: United States
- Province / State: West Virginia
- Postal code / ZIP: 26330
- Property ID 3139
- Price $3,145,000
- Property Type Commercial Building
- Property status For Sale
- Year Built 1990
- Size 5,141 SqFt
- Land area 1.26 Acres