Listed by Bang Realty
$3,523,810
Olive Garden Ground Lease - Ames, IA
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 6,500
Cap Rate 5.25%
NOI $185,000
Tenancy Single
Brand/Tenant Olive Garden
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 05/30/2036
Remaining Term 10
Rent Bumps Yes
Lease Options 4, 5 Year Options
Price per SqFt $542
Year Built 2026
Acreage 1.590
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 05/31/2026
Ground Lease Yes
Iowa State University Location
Marketing description
The offering presents an opportunity to acquire a newly built Olive Garden asset in Ames, Iowa, a major Big 12 college town anchored by Iowa State University, which has enrollment of more than 30,000 students. Olive Garden is strategically situated at the intersection of I-35 (46,950 VPD) and US-30 (35,000 VPD), making it convenient for locals, students, faculty, and visitors to frequent the restaurant. Additionally, Olive Garden is surrounded by ten hotels within two blocks (786 rooms) and 66,000 people living within a Five mile radius, catering to a diverse customer base which includes the university community.
Investment highlights
- NO LANDLORD RESPONSIBILITIES: New 10 year absolute NNN ground lease with 10% rent increases every 5 year, providing completely passive ownership.
- PREMIER CASUAL DINING OPERATOR: Darden is the largest casual dining operator in the country, with 2,100 total restaurants across 10 brands around the country, including 944 Olive Gardens.
- HIGHWAY VISIBILITY & ACCESSIBILITY: Strategically positioned at the con fluence of I-35 (46,950 VPD) and US- 30 (35,000 VPD), offering the property offers excellent visibility and seamless connectivity, with a convenient 7-minute drive to Iowa State University—providing easy access for students, faculty, and the surrounding residential population.
- FIRST LOCATION IN A MAJOR UNIVERSITY MARKET: This is the First Olive Garden in Ames, home to Iowa State University (7 minute drive to campus) with over 31,000 students. The property is supported by a population of approximately 60,000 residents within a 5-mile radius, delivering a diverse and consistent customer base driven by students, faculty, and the surrounding community.
- PROXIMITY TO HOTELS: The property is surrounded by ten hotels within two blocks (786 rooms), creating a built-in demand driver within walking distance and attracting both transient visitors and business travelers to the restaurant.
- SPACIOUS LOT WITH STRONG RESIDUAL VALUE: This brand-new building sits on a generous 1.59-acre lot, offering ample parking, excellent visibility, and significant residual value for potential future redevelopment or expansion.
Listing Contacts
Listed by Bang Realty
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$185,000.00
$15,416.67/mo
Valuation Metrics
0
DSCR
5.25%
Cap Rate
5.25%
ROI
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