Restaurant
Olive Garden
5525 TN-153, Chattanooga, TN 37343
Listing Price: $3,033,000
Investment Overview
The investment offering consists of a fee simple Olive Garden in the desirable submarket of Hixson, TN (Chattanooga MSA). The property is very well located along a busy travel and retail corridor on TN Hwy 153. It is positioned with optimal visibility and access from a signalized entrance to Towne Center North - a 200+ SF Power Center featuring Target, PetSmart, Best Buy and other national retailers.
There are 12.5 years remaining on absolute NNN lease with zero landlord responsibilities and 1% annual rent increases. The lease is guaranteed by GMRI, Inc. a wholly owned and largest subsidiary of Darden Restaurants, Inc. (NYSE: DRI). Darden Restaurants currently has over a $18.87 Billion market cap and BBB S&P credit rating.
The state of Tennessee has one of the highest growth rates in the U.S. due to low taxes and pro-business climate. It is also a non-income tax state, making it a favorable target for real estate investors. Chattanooga features a low retail vacancy rate of 2.8% and low unemployment rate of 2.9%. Over 11 million people live within a 2 hour radius from Chattanooga. Major manufacturer from across the U.S. are continually attracted to the area for these reasons.
Olive Garden
Investment Highlights
- 12.5+ Years Remaining on a Absolute NNN Lease | Corporately Guaranteed by GMRI, Inc (Darden NYSE: DRI)
- Corner Pad Entrance to Towne Center North - 200k SF Target Anchored Power Center - Hixson's Retail Epicenter
- Excellent Residual Real Estate Value - Large 2.23 Acre Parcel - 7, 495 SF Building | Newly Renovated
- Signalized Intersection Along TN Hwy 153 - a Major 7 Lane Travel Corridor with 45,600+/- ADT
- Zero Landlord Responsibilities | 1% Annual Rent Increases | Four 5-Year Options Remaining
- BBB Investment Grade Credit | Darden Restaurants Has $18.87 Billion Market Cap
- TN - Non Income Tax State | Chattanooga MSA - Low 2.9% Unemployment, 2.8% Vacancy Rate and Thriving Economy
- Over 11 Million People Live Within 2 Hours of Chattanooga MSA
Exclusively Listed By
Broker of Record
Financing By
Listing Price: $3,033,000
Investment Highlights
- 12.5+ Years Remaining on a Absolute NNN Lease | Corporately Guaranteed by GMRI, Inc (Darden NYSE: DRI)
- Corner Pad Entrance to Towne Center North - 200k SF Target Anchored Power Center - Hixson's Retail Epicenter
- Excellent Residual Real Estate Value - Large 2.23 Acre Parcel - 7, 495 SF Building | Newly Renovated
- Signalized Intersection Along TN Hwy 153 - a Major 7 Lane Travel Corridor with 45,600+/- ADT
- Zero Landlord Responsibilities | 1% Annual Rent Increases | Four 5-Year Options Remaining
- BBB Investment Grade Credit | Darden Restaurants Has $18.87 Billion Market Cap
- TN - Non Income Tax State | Chattanooga MSA - Low 2.9% Unemployment, 2.8% Vacancy Rate and Thriving Economy
- Over 11 Million People Live Within 2 Hours of Chattanooga MSA
Investment Overview
The investment offering consists of a fee simple Olive Garden in the desirable submarket of Hixson, TN (Chattanooga MSA). The property is very well located along a busy travel and retail corridor on TN Hwy 153. It is positioned with optimal visibility and access from a signalized entrance to Towne Center North - a 200+ SF Power Center featuring Target, PetSmart, Best Buy and other national retailers. There are 12.5 years remaining on absolute NNN lease with zero landlord responsibilities and 1% annual rent increases. The lease is guaranteed by GMRI, Inc. a wholly owned and largest subsidiary of Darden Restaurants, Inc. (NYSE: DRI). Darden Restaurants currently has over a $18.87 Billion market cap and BBB S&P credit rating. The state of Tennessee has one of the highest growth rates in the U.S. due to low taxes and pro-business climate. It is also a non-income tax state, making it a favorable target for real estate investors. Chattanooga features a low retail vacancy rate of 2.8% and low unemployment rate of 2.9%. Over 11 million people live within a 2 hour radius from Chattanooga. Major manufacturer from across the U.S. are continually attracted to the area for these reasons.
Exclusively Listed By
Broker of Record
Financing By
