Olive Garden Ground Lease | 15115 E US Route 224
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Olive Garden Ground Lease 15115 E US Route 224
8,030 SF Retail Building Findlay, OH 45840 $2,116,667 ($264/SF) 6% Cap Rate
Investment Highlights
- 8,030 Square Foot Ground Lease Located on 1.96 Acres of Land
- Established Location - Olive Garden has been Operating at this Location Since 2004
- The Company is a Subsidiary of Darden Restaurants, Inc. (NYSE:DR) -Rated BBB (Investment Grade) by Standard and Poor's
- Zero Landlord Responsibilities - A True "Mailbox Management" Asset
- Olive Garden is an American Casual Dining Restaurant Chain Specializing in Italian Cuisine
- Tenant Committed to a Brand New 10 Year Lease Extending the Term to 2035 (with a Rental Increase) - Exhibits a Strong Commitment to the Location
Executive Summary
8,030 Square Foot Ground Lease Located on 1.96 Acres of Land
Zero Landlord Responsibilities - A True "Mailbox Management" Asset
Established Location - Olive Garden has been Operating at this Location Since 2004
Olive Garden is an American Casual Dining Restaurant Chain Specializing in Italian Cuisine
The Company is a Subsidiary of Darden Restaurants, Inc. (NYSE:DR) -Rated BBB (Investment Grade) by Standard and Poor's
Tenant Committed to a Brand New 10 Year Lease Extending the Term to 2035 (with a Rental Increase) - Exhibits a Strong Commitment to the Location
Olive Garden Reports Strong Sales at the Location - Very Low Rent to Sales Ratio - Please Contact Agent for Details
Rental Increases Every 5 Years and in the Option Periods
Located on US 224 - Tiffin Avenue - The Heart of Findlay's Commercial Retail Corridor and Home to the "Who's Who" of Retailers with Very Strong Growth and Retail Development
Zero Landlord Responsibilities - A True "Mailbox Management" Asset
Established Location - Olive Garden has been Operating at this Location Since 2004
Olive Garden is an American Casual Dining Restaurant Chain Specializing in Italian Cuisine
The Company is a Subsidiary of Darden Restaurants, Inc. (NYSE:DR) -Rated BBB (Investment Grade) by Standard and Poor's
Tenant Committed to a Brand New 10 Year Lease Extending the Term to 2035 (with a Rental Increase) - Exhibits a Strong Commitment to the Location
Olive Garden Reports Strong Sales at the Location - Very Low Rent to Sales Ratio - Please Contact Agent for Details
Rental Increases Every 5 Years and in the Option Periods
Located on US 224 - Tiffin Avenue - The Heart of Findlay's Commercial Retail Corridor and Home to the "Who's Who" of Retailers with Very Strong Growth and Retail Development
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
8,030 SF
Building Class
B
Year Built
2004
Price
$2,116,667
Price Per SF
$264
Cap Rate
6%
NOI
$126,995
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.96 AC
Parking
126 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
263 FT on US Rt 224 Hwy
Amenities
- Pylon Sign
- Signage
- Air Conditioning
- Smoke Detector
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 63-0001020794 | Improvements Assessment | $204,600 |
| Land Assessment | $155,400 | Total Assessment | $360,000 |
PROPERTY TAXES
Parcel Number
63-0001020794
Land Assessment
$155,400
Improvements Assessment
$204,600
Total Assessment
$360,000
Contacts
-
Deno Bistolarides -
Sal Yaldo -
Ayson Shammami -
Encore Real Estate Investment Services
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Olive Garden Ground Lease | 15115 E US Route 224
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