1997 Sunset BlvdSteubenville, OH 43952

Property Details for 1997 Sunset Blvd

Year built

2008

Lot size

1.12 AC

Property size (Sq ft)

5,125 SF

Property type

Turn key restaurants

APN

07-11815-000

APU

711815000

Description

This exceptional investment opportunity presents the fee simple ownership of a 5,218 square foot Bob Evans restaurant in Steubenville, Ohio. The property boasts a brand new 20-year absolute NNN lease with four 5-year renewal options, providing long-term stability and a corporate guarantee from Bob Evans Restaurants, LLC. Annual 2% rent increases, commencing May 2027, offer inflation protection and consistent NOI growth. The property, built in 2008, sits on a 1.12-acre lot with 89 parking spaces and is zoned B-2: Community Commercial District. Located at 1997 Sunset Blvd (APN: 07-11815-000), this high-traffic location benefits from proximity to major retail centers including Hollywood City Center (309,000 sq ft), Fort Steuben Mall (669,000 sq ft), and Rural King Plaza (217,000 sq ft), along with other national retailers like Lowe's, Target, and Aldi. The strong demographics of the 5-mile trade area, with a population exceeding 50,200 and an average household income of $69,366, further enhance the investment's appeal. The property's current NOI is $222,854, resulting in a 7.00% cap rate, and the asking price is $3,184,000 ($610.20/sq ft). This is a truly passive, management-free investment opportunity with significant long-term potential. 100% occupancy ensures immediate cash flow.

• CAP approach

  CAP return

  Valuation

  6%

  $1,432,747

  6.5%

  $1,322,536

  7%

  $1,228,069

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,208,069

  Geo Method

  $1,208,069

• Alternative Use

  Use

  Valuation

  Residential

  $1,115,608

  Hospitality

  $1,021,891

  Educational

  $850,202

  Medical

  $879,441

  Retail

  $1,322,536

Location Insight

City

Steubenville

County

Jefferson

State

Ohio

Latitude

40.37

Longitude

-80.6352

CBSA code

48260

CBSA name

WEIRTON-STEUBENVILLE, WV-OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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