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30068184
30068185

8225 Northlake Commons Blvd, Charlotte, NC 28216

RF
NC 280948
Berkeley Capital Advisors Charlotte
CB
NC 287166
Berkeley Capital Advisors Charlotte
Listed by Berkeley Capital Advisors Charlotte
$3,379,000
93 days on market
Updated 46 days ago

Olive Garden Ground Lease

Details
Property Type Retail
Sub Type Restaurant
Square Footage 7,641
Cap Rate 5.85%
NOI $197,654
Occupancy 100%
Tenancy Single
Brand/Tenant Olive Garden
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 02/28/2031
Remaining Term 4.7
Rent Bumps Yes
Lease Options 1, 5 year
Price per SqFt $442
Broker Co-Op Yes
Year Built 2005
Buildings 1
Stories 1
Acreage 2.250
Zoning Commercial
Parking Spaces 145 per unit
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 05/18/2005
Ground Lease Yes

Absolute Net Ground Lease | Investment Grade Credit | Affluent Surrounding Area

Investment highlights

• Absolute net ground lease | Zero landlord responsibilities

• Investment grade credit | BBB/Baa2 | Stable performance

• Corporate lease | Darden Restaurants, Inc. | 2,100 casual dining locations across the U.S.

• Located within a dense retail corridor | 3.1M SF within a 2-mile radius

• Long operating history | Leased since 2005

• Explosive population growth within 1-mile | 99.71% from 2010-2025

• Attractive population density within a 5-mile radius | 152,387 residents

• Significant industrial presence nearby | 10.4M SF of space within a 2-mile radius

• Affluent surrounding area | $106,773 average household income within a 3-mile radius

• Excellent visibility and access from West W.T. Harris Blvd | 34,000 VPD

• 10 minutes from Novant Health Huntersville Medical Center | 134 beds

• 15 minutes from University of North Carolina at Charlotte | 32,207 students

• 10 minutes from North Mecklenburg High School | 2,200 students

• Located across the street from a top-performing Lowe’s | Ranks in the 81st percentile nationwide via Placer.ai

• Strategically located near Northlake Mall | Super regional mall | 722K SF of retail space

• Nearby destination retailers | Target, Harris Teeter, Food Lion, ALDI, Lowe’s, Staples, Old Navy, REI, Buffalo Wild Wings, P.F. Chang’s, Chickfil- A, McDonald’s, Chipotle, Starbucks, CAVA, Wendy’s, Jersey Mike’s, Five Guys, Taco Bell, Zaxby’s, Sherwin-Williams, and more

Listing Contacts

RF
NC 280948
Berkeley Capital Advisors Charlotte
CB
NC 287166
Berkeley Capital Advisors Charlotte
Listed by Berkeley Capital Advisors Charlotte

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$197,654.00
$16,471.17/mo

Valuation Metrics

0
DSCR
5.85%
Cap Rate
5.85%
ROI

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