Listed by SRS Real Estate Partners Newport Beach
$3,069,000
Olive Garden
Details
APN 26-22-28-9155-00-031
Property Type Retail
Sub Type Restaurant
Square Footage 9,172
Cap Rate 5.75%
NOI $176,474
Tenancy Single
Brand/Tenant Olive Garden
Lease Type NNN
Lease Term 5
Lease Expiration 10/31/2029
Remaining Term 3.4
Rent Bumps Yes
Lease Options 2 (5-year) options
Year Built 1989
Year Renovated 2005
Acreage 2.000
Zoning PD: Planned Development
Parking Spaces 138 spaces
Parking Per SqFt 15.05
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 11/01/2024
Ground Lease Yes
Ownership Leased Fee (Land Ownership)
Retail | 5.75% CAP | 9,172 SqFt
Marketing description
SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in a NNN leased, Olive Garden investment property located in Orlando, Florida. The tenant, Olive Garden, has operated at this location for over 30 years and has 3 years of term remaining with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 11% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.
Investment highlights
- Olive Garden Corporate signed lease
- 3 years remaining with 2 (5-year) option periods to extend
- The tenant has operated at this location for over 30 years
- The lease features 11% rental increases at the beginning of each option period, providing a hedge against inflation while steadily growing NOI
Listing Contacts
Listed by SRS Real Estate Partners Newport Beach
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$176,474.00
$14,706.17/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
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