770 Main St Jackson, OH 45640-2131

Property Details for 770 Main St

Year built

2003

Construction

WOOD

Lot size

1.51 lot acres

Property size

5,250 SF

Property type

Turn key restaurants

APN

H140200013500

APU

H140200013500

Description

This exceptional investment opportunity presents a fee-simple ownership of a 5,273 square foot Bob Evans restaurant located at 770 E Main St, Jackson, Ohio, 45640. The property sits on a 1.51-acre lot, enjoying high visibility and accessibility on Main Street, just north of the intersection of OH-32 and OH-124, with a daily traffic count of 14,158 vehicles. The building, constructed in 2023, is a single-story structure operating under a 20-year Absolute NNN lease with Bob Evans Restaurants, LLC, a well-established chain with approximately 439 locations. The lease has 19+ years remaining and includes four 5-year renewal options. Rent increases are structured with a 2% annual bump beginning in the fifth lease year (May 1, 2027), providing significant long-term growth potential. The property boasts a 7.00% cap rate and a current Net Operating Income (NOI) of $218,000. The surrounding area demonstrates strong demographics, with a total population of 12,368 within a 5-mile radius and an average household income of $113,879 within a 1-mile radius. This location benefits from proximity to other established retailers and restaurants, including Walmart, Kroger, and several national fast-food chains. The property is zoned C and offers a compelling investment opportunity due to its long-term lease, built-in rent escalations, and strong tenant performance in a thriving market. The property is currently 100% occupied.