NNN Investment Opportunity - Olive Garden
Retail | 4.25% CAP | 7,825 SF
Marketing description
NAI SunVista is pleased to offer the opportunity to acquire a brand-new construction, single tenant Olive Garden in Albuquerque, NM. This ideal long-term investment features a ground lease with easily replaceable rent that appreciates over time, ensuring passive income with no landlord management. The Property is occupied by a corporate tenant, Darden Restaurant’s most prominent brand, the nation’s most dominant sit-down restaurant group, offering stable cash flow, attractive 10% rent increases every five years, and future-proofing through scheduled store renovations.
Investment highlights
ADDRESS
SWQ Coors Blvd. & St. Joseph’s Dr. NW
Albuquerque, NM 87120
TENANT
Olive Garden:
- 6 Locations in New Mexico
- 934 Locations Nationwide
- Started in 1982
SALE PRICE
$3,882,350
CAP RATE
4.25%
RENT INCREASES
10% Increases Every 5 Years
LEASE TERM
10-Year Primary Term
RENEWAL OPTIONS
4 x 5-Year options
BUILDING/LOT SIZE
±7,825 SF Building Under Construction on ±1.84 Acres
TRAFFIC COUNTS
±49,900 cars per day on Coors Blvd.
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