255 E Margaret Ave - Restaurant FOR SALE


Terre Haute, IN 47802
$2,416,207 USD
619-297-0055
255 E Margaret Ave, Terre Haute, IN for Sale
$2,416,207 USD
Restaurant - FOR SALE
1/3
null | 7.25% Cap Rate

255 E Margaret Ave
Terre Haute, IN 47802


HIGHLIGHTS

  • The site is located in close proximity to Indiana State University which consists of approximately 8,700 students.
  • 15+ years remaining on Bob Evans Corporate lease, providing a stable and secure income stream.
  • Absolute NNN lease with zero landlord responsibilities whatsoever.
  • The subject property has 2% annual rental increases in both the primary term and option periods.
  • Situated in Terre Haute’s main retail corridor with over 2.5 million square feet of retail space within 1 mile.
  • Adjacent to South Third Street (30,000+ vehicles per day) and less than half a mile from Interstate 70 (45,000+ vehicles per day).

OVERVIEW

We are pleased to offer for sale the Bob Evans property located at 255 E Margaret Ave in Terre Haute, Indiana ("The Property"). Bob Evans has been successfully operating at this location under a corporate-backed absolute triple net (NNN) lease with more than 15 years remaining on the primary term. The lease calls for 2% annual rental increases in both the primary term and option periods and ensures no landlord responsibilities, providing investors with a truly passive and secure income stream. Located adjacent to South Third Street Shopping Center, the Property is situated within 2.5 million square feet of retail space within 1 mile, and surrounding the Property is a robust mix of national retailers and service providers, including Walmart, Target, Lowe’s, Meijer, and Menards, as well as popular dining establishments such as Cracker Barrel, Texas Roadhouse, and Chick-fil-A. The Property is strategically positioned along East Margaret Avenue. This heavily traveled roadway connects to U.S. Highway 41 (31,000+ vehicles per day) and is less than half a mile from Interstate 70 (45,000+ vehicles per day). Additionally, the Subject Property is located near Indiana State University, with over 8,700 students. Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, IN DRE Lic. #RB14037939.

FOR SALE DETAILS

PRICE

$2,416,207 USD

PRICE/SF

$470 USD /SF

CAP RATE

7.25%

% 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

1979

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.28 AC

LAND SF

55,757 SF

ZONING

-

APN/PARCEL ID

84-09-04-201-008.000-005

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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