16230 Dresden AveEast Liverpool, OH 43920

Property Details for 16230 Dresden Ave

Year built

1995

Lot size

1.49 AC

Property size (Sq ft)

3,250 SF

Property type

Turn key restaurants

APN

61-07848-002

APU

6107848002

Description

This exceptional investment opportunity presents a 3,401 square foot Bob Evans restaurant in East Liverpool, Ohio. Located at 16230 Dresden Ave, 43920, this single-tenant property boasts a 20-year absolute NNN lease commencing July 24, 2023, and expiring July 31, 2043, with a remaining term of 18.7 years. The lease includes a corporate guarantee and features 2% annual rent bumps starting May 1, 2027. The property sits on a 1.88-acre lot and was built in 1995. Currently operating at 100% occupancy, it generates a Net Operating Income (NOI) of $198,977, resulting in a 7.00% cap rate and a price per square foot of $835.79. The asking price is $2,842,529. Benefiting from high visibility and accessibility due to its location on Lincoln Highway and State Route 170, the property is an outparcel of the Summit Square Shopping Center, near other national retailers. Its proximity to the State Route 39 Development, slated for expansion, promises further traffic increases. The property's location is ranked in the 70th percentile by Placer.Ai, indicating strong market performance. Lease renewal options of 4 or 5 years are available.

• CAP approach

  CAP return

  Valuation

  6%

  $908,571

  6.5%

  $838,681

  7%

  $778,775

• Comparable approach

  Method

  Valuation

  Relative Method

  $766,093

  Geo Method

  $766,093

• Alternative Use

  Use

  Valuation

  Residential

  $707,459

  Hospitality

  $648,029

  Educational

  $539,152

  Medical

  $557,694

  Retail

  $838,681

Location Insight

City

East Liverpool

County

Columbiana

State

Ohio

Latitude

40.6657

Longitude

-80.5889

CBSA code

41400

CBSA name

SALEM, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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