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Views: 178 DOM: 164 Updated: 10.10.24 Posted: 07.10.24 Status: Active

Summary

Price $2,116,667
Built/Renov 2004
Tenant Olive Garden (GL)
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 8,030
Lease Start 02-01-2005
#Units 949
Price/SF $263.59
Expiration 01-31-2035
Tenant Type Casual Dining
NOI $127,000
R. Term 10.1
Ownership Ground Lease
Rent/SF $15.82
Increases 0.0%/0/yrs
Pop 5Mi 47,028
Lot/AC 1.96
Options 2/5yrs
AHHI 5Mi $69,300

Lease Highlights

  • Olive Garden has been operating in this location for 20 years
  • The tenant has 10+ years remaining on the current ground lease term with 2 (5-year) option to extend
  • The lease features fluctuating rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Olive Garden is strategically located on U.S. 224, with access to 19,000 vehicles passing by daily. The property is surrounded by well-known national tenants, including Walgreens, Applebee's, Aldi, Kroger, Hobby Lobby, and more. The 5-mile trade area is supported by a population of 47,028 residents with an average household income of $69,300. Findlay, located in Hancock County, Ohio, serves as...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Olive Garden is an American casual dining   restaurant chain  specializing in  Italian-American cuisine . Olive Garden serves several types of Italian-American cuisine including...


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Traffic

Collection Street Cross Street Year Traffic Vol Distance
County Road 236 Birchwood Ln 2021 9,685 0.54 mi
County Road 236 Foxtail Dr 2021 7,470 0.68 mi
Tiffin Ave Spruce Dr 2004 22,060 0.69 mi
Fox Run Road Quail Lake Rd 2021 583 0.72 mi
Tr 237 Lakeview Pkwy 2021 2,891 0.84 mi
Manor Hill Road Hillstone Dr 2021 7,084 0.95 mi
Greendale Avenue Bright Rd 2021 2,455 0.99 mi
Bright Road Shore Blvd 2021 11,088 1.02 mi
Bright Road Rush Creek Ct 2021 11,759 1.17 mi
Tr 212 State Hwy12 2021 1,718 1.32 mi

Listing Broker

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