1870 Michigan StSidney, OH 45365

Property Details for 1870 Michigan St

Lot size

1.43 AC

Property size (Sq ft)

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,659,421

  6.5%

  $1,531,773

  7%

  $1,422,361

• Comparable approach

  Method

  Valuation

  Relative Method

  $291,907

  Geo Method

  $291,907

• Alternative Use

  Use

  Valuation

  Residential

  $1,292,108

  Hospitality

  $1,183,564

  Educational

  $984,711

  Medical

  $1,018,577

  Retail

  $1,531,773

Location Insight

City

Sidney

County

Shelby

State

Ohio

Latitude

40.2885

Longitude

-84.1841

CBSA code

43380

CBSA name

SIDNEY, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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