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Views: 78 DOM: 137 Updated: 11.02.24 Posted: 08.06.24 Status: Active

Summary

Price $2,525,217
Built/Renov 2010
Tenant Olive Garden (GL)
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 7,507
Lease Start 04-01-2010
#Units 949
Price/SF $336.38
Expiration 03-31-2032
Tenant Type Casual Dining
NOI $145,200
R. Term 7.3
Ownership Ground Lease
Rent/SF $19.34
Increases 10.0%/7/yrs
Pop 5Mi 76,125
Lot/AC 0.41
Options 3/5yrs/10%
AHHI 5Mi $108,307

Lease Highlights

  • Olive Garden has 7+ years remaining on the current ground lease term with 3 (5-year) options to extend
  • The lease features 10% rental increases at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Olive Garden is strategically located on Valley Mall Parkway, with access to a daily traffic count of 56,000 vehicles. The property is an outparcel to Wenatchee Valley Mall, anchored by Macy’s, Sportsman’s Warehouse, and Ross. It also benefits from its proximity to State Route 285, which sees 56,000 VPD and serves as the main thoroughfare for Wenatchee. The immediate area features well-known...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 12,593 65,411 79,217
2024 Total Population : 12,150 62,982 76,125
2024 Employed Civilian Pop : 6,632 32,353 39,024
2024 Total Businesses : 667 2,207 2,709
2024 Average Household Income : $ 80,418 $ 101,936 $ 108,307
2024 Total Consumer Spending : $ 324 M $ 2117 M $ 2707 M
2024 Median Age : 34 38 39
2024 Total Households : 4,546 23,659 28,558
2024 Pop Age 25+: Bachelor's Degree : 823 7,465 9,849
2024 Average Home Value : $ 381,508 $ 470,134 $ 496,035
*ESRI data is presented for informational purposes only

Listing Broker

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