907 Venture Dr - Restaurant FOR SALE


Smithfield, NC 27577
$1,617,883 USD
332-345-4222
907 Venture Dr, Smithfield, NC for Sale
$1,617,883 USD
Restaurant - FOR SALE
1/2
null | 6% Cap Rate

907 Venture Dr
Smithfield, NC 27577


HIGHLIGHTS

  • Long-Term, 20-Year Absolute Triple Net (NNN) Lease ? Approximately 12.50 Years Remaining
  • Two Percent (2%) Annual Rental Increases Starting May 1st 2027
  • Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 40 Years

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,617,883 USD

PRICE/SF

$307 USD /SF

CAP RATE

6%

% 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

2003

SPRINKLERS

-

PARKING SPACES

68

LAND DETAILS

LAND ACRES

2.07 AC

LAND SF

90,169 SF

ZONING

SUP

APN/PARCEL ID

15L11008M

ASK ABOUT THIS PROPERTY

Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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