Olive Garden | Brand New 10 Yr Lease | 5125 Pearl Dr
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Olive Garden | Brand New 10 Yr Lease 5125 Pearl Dr
6,856 SF Retail Building Evansville, IN 47712 $3,333,000 ($486/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New 10 Year Lease | Options To Extend
- Across From Walmart Supercenter |Near University Shopping Center
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Olive Garden investment property located in Evansville, IN. The tenant, Olive Garden Holdings, LLC recently signed a brand new 10 year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,856 SF
Building Class
C
Year Built
1999
Price
$3,333,000
Price Per SF
$486
Cap Rate
5.25%
NOI
$175,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.61 AC
Zoning
C-4 - General Commercial
Parking
124 Spaces (18.09 Spaces per 1,000 SF Leased)
Frontage
333 FT on W Lloyd Expy
AMENITIES
- Freeway Visibility
- Restaurant
- Signalized Intersection
- Monument Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 82-05-28-007-452.001-024 | Improvements Assessment | $482,700 |
| Land Assessment | $700,100 | Total Assessment | $1,182,800 |
PROPERTY TAXES
Parcel Number
82-05-28-007-452.001-024
Land Assessment
$700,100
Improvements Assessment
$482,700
Total Assessment
$1,182,800
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Olive Garden | Brand New 10 Yr Lease | 5125 Pearl Dr
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