1870 Michigan St Sidney, OH 45365
- Turn key restaurants
- 5,883 SF
- 1.43 lot acres
Current Use by Public Records
- Bob Evans / Family Restaurant / Breakfast Restaurant
Property Details for 1870 Michigan St
- Lot size
- 1.43 lot acres
- Property size
- 5,883 SF
- Property type
- Turn key restaurants
- APN
- 01-1826352.011
- APU
- 11826352011
Description
This exceptional investment opportunity presents a fee-simple ownership of a Bob Evans restaurant located at 1870 W Michigan St, Sidney, OH 45365. The property boasts 6,069 square feet on a 1.77-acre lot, built in 1995 and renovated in 2011. Currently operating under a 20-year triple-net (NNN) lease with a corporate guarantee, the lease commenced April 28, 2017, and expires April 30, 2037, leaving approximately 12.4 years remaining. The annual net operating income (NOI) is $175,175, representing a 7.00% cap rate and a price per square foot of $412.34. The lease includes attractive 2.00% annual rent increases, ensuring consistent income growth. The property enjoys 100% occupancy and is situated in a thriving community with an average household income exceeding $75,000 within a five-mile radius. This is a truly passive investment opportunity with zero landlord responsibilities, offering significant long-term financial returns. The asking price is $2,502,500.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sidney
- County
- Shelby
- State
- Ohio
- Longitude
- -84.1841
- Latitude
- 40.2885
- CBSA code
- 43380
- CBSA name
- SIDNEY, OH MICROPOLITAN STATISTICAL AREA
