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Bob Evan's

Overview

Bob Evans, a family restaurant chain headquartered in Columbus, Ohio, is an appealing net lease tenant due to its investor-friendly lease terms. Through sale-leaseback agreements, investors can acquire 20-year triple net leases with 2% annual increases, offering freedom from landlord responsibilities and protection against inflation. The brand began in 1948 when founder Bob Evans started making sausage on his southeastern Ohio farm to serve at his 12-stool diner. In recent years, the company was divided into two businesses: the restaurant segment, purchased by Golden Gate Capital in 2017, and the wholesale side, acquired by Post Holdings in 2018. Today, Bob Evans operates nearly 450 locations across 18 states, primarily in the Midwest, Mid-Atlantic, and Southeast regions.
Lowest Cap Rate

5.48%

Average Cap Rate

5.54%

Property & Lease

Average Sale Price

$3,910,865

Average NOI

$216,740

Building SF

5,000 – 6,000

Lease Term

20 Years

Escalations

2% Annually

Stock Symbol

N/A
Credit Rating

S&P

N/A

Moody’s

N/A

Tenants

CVS
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