Bob Evans

Absolute NNN Bob Evans Ground Lease | ALDI & Dollar Tree Outparcel | Muskegon, MI

An exceptional single-tenant net-leased commercial investment opportunity is now available in Muskegon, Michigan, priced at $1,530,000. Occupied by Bob Evans since 1989, this high-performing restaurant location has demonstrated over 35 years of site commitment and features approximately 9 years of remaining lease term. The property operates under an absolute NNN ground lease structure with zero landlord responsibilities, corporate-backed by Bob Evans Restaurants, LLC (440+ locations). With built-in 2% annual rental increases, this asset offers 1031-exchange investors predictable, inflation-protected cash flow backed by proven real estate fundamentals.

Investment & Property Snapshot

• Offering Price: $1,530,000

• Building Size: 5,500 SF

• Price Per Square Foot: ~$278/SF

• Year Built: 1984

• Tenant / Guarantor: Bob Evans Restaurants, LLC (Corporate Guarantee)

• Lease Structure: Absolute NNN Ground Lease (Zero Landlord Responsibilities)

• Term Remaining: ~9 Years

• Rent Escalations: 2% Annual Rental Increases

• Property Type: Commercial Retail / Freestanding Restaurant Ground Lease

Key Investment Highlights

• 35+ Year Proven Site Commitment: Bob Evans has operated continuously at this site since 1989, proving the strength, profitability, and long-term viability of the location.

• 100% Passive Absolute NNN Structure: Ground lease format leaves the owner with zero maintenance, repair, or operational obligations—delivering truly passive income.

• Compounding Inflation Defense: Built-in 2% annual rent escalations steadily compound net yield throughout the remainder of the term.

• Corporate Backing: Guaranteed by Bob Evans Restaurants, LLC, a well-established national brand operating more than 440 corporate locations.

Prime Muskegon, MI Location & Trade Area Situated along a high-volume retail corridor near the shores of Lake Michigan, this 5,500-square-foot facility sits on a premier outparcel to high-traffic anchors ALDI and Dollar Tree. The property commands excellent frontage, direct street visibility, and seamless access, drawing continuous customer volume from surrounding residential neighborhoods and major local employers. Positioned near primary regional transportation routes and vibrant local community destinations such as Heritage Landing and the Muskegon Museum of Art, this net-leased ground lease delivers outstanding long-term security in a thriving Midwest submarket.