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Restaurant

Olive Garden

3807 N Expressway 83, Brownsville, TX 78526

Listing Price: $3,300,000

Cap Rate
5.50%
Tenant Name
Olive Garden
Years Remaining On Lease
3.7
Gross SF
7,916
Guarantor
Corporate Guarantee
Rentable SF
7,916
Price/Gross SF
$416.88
Lease Type
Ground Lease
Rent Per Square Feet
$22.93

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a ground lease Olive Garden in Brownsville, Texas. The property consists of a 7,916-square-foot, freestanding building that sits on 1.03 acres of land. There are 3.8 years remaining on the current lease term, with 10% rental increases every five years.

Investment Highlights

  • Corporate Ground Lease with Approximately 3.8 Years Remaining
  • Current Seller Took Ownership by Deed in Lieu | Limited Inspection Material Available
  • Heavy Retail Corridor – Located in a New Retail Development Near Sunrise Mall
  • More than 160,943 Residents Within a Five-Mile Radius
  • More than 160,943 Residents Within a Five-Mile Radius
  • Corporate Guarantee - Rare Hospitality International, Inc. is a a wholly-owned Subsidiary of Darden Restaurants, Inc. (NYSE: DRI; S&P: BBB)
  • Seven Miles from the Port of Brownsville (Ranked Second Nationally in Exports) and 30 Minutes to Matamoros, Mexico (Population of 571,000)
  • Brownsville has a Growing Aerospace Industry Anchored by SpaceX's Boca Chica Launch Site

Exclusively Listed By

Financing By

Listing Price: $3,300,000

Cap Rate
5.50%
Tenant Name
Olive Garden
Years Remaining On Lease
3.7
Gross SF
7,916
Guarantor
Corporate Guarantee
Rentable SF
7,916
Price/Gross SF
$416.88
Lease Type
Ground Lease
Rent Per Square Feet
$22.93

Investment Highlights

  • Corporate Ground Lease with Approximately 3.8 Years Remaining
  • Current Seller Took Ownership by Deed in Lieu | Limited Inspection Material Available
  • Heavy Retail Corridor – Located in a New Retail Development Near Sunrise Mall
  • More than 160,943 Residents Within a Five-Mile Radius
  • More than 160,943 Residents Within a Five-Mile Radius
  • Corporate Guarantee - Rare Hospitality International, Inc. is a a wholly-owned Subsidiary of Darden Restaurants, Inc. (NYSE: DRI; S&P: BBB)
  • Seven Miles from the Port of Brownsville (Ranked Second Nationally in Exports) and 30 Minutes to Matamoros, Mexico (Population of 571,000)
  • Brownsville has a Growing Aerospace Industry Anchored by SpaceX's Boca Chica Launch Site

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a ground lease Olive Garden in Brownsville, Texas. The property consists of a 7,916-square-foot, freestanding building that sits on 1.03 acres of land. There are 3.8 years remaining on the current lease term, with 10% rental increases every five years.

Exclusively Listed By

Financing By

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