Restaurant

Olive Garden Ground Lease | 10-Yr. Corporate NNN

27169 23 Mile Rd, Chesterfield Township (Detroit MSA), MI 48051

Listing Price: $2,407,000

Cap Rate
5.40%
Tenant Name
Olive Garden
Years Remaining On Lease
9.5
Guarantor
Corporate Guarantee
Rentable SF
7,757
Lease Type
NNN Ground Lease
Rent Per Square Feet
$16.76

Investment Overview

Marcus & Millichap is pleased to present the Olive Garden Ground Lease in Chesterfield Township, Michigan.

Investment Highlights

  • 10-Year Absolute NNN Ground Lease with 10% Rental Increases Every 5 Years
  • Corporate Guaranty (NYSE: DRI; S&P: BBB-), Largest Full-Service Italian Restaurant Operator in the U.S. with 904 Locations
  • Below Market Rent Dramatically Increases Future Renewal Probability
  • Brand New High-Quality Construction, Latest Prototype
  • Serving Over 106,000 Residents in Growing Super Regional Trade Area
  • Surrounded by Several New Housing and Commercial Developments

Exclusively Listed By

  • Phil Sambazis

    Executive Managing Director Investments

    (858) 373-3174

    Email Phil

    License(s): CA: 01474991

    San Diego

  • Brandon Hanks

    First Vice President Investments

    (858) 373-3224

    Email Brandon

    License(s): CA: 01416786, ID: SP39939

    San Diego

  • Evan P. Taylor

    Associate

    Email Evan

    License(s): CA: 01964433

    San Diego

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    License(s): MI: 6502387903

    Michigan

Restaurant

Olive Garden Ground Lease | 10-Yr. Corporate NNN

Listing Price: $2,407,000

Cap Rate
5.40%
Tenant Name
Olive Garden
Years Remaining On Lease
9.5
Guarantor
Corporate Guarantee
Rentable SF
7,757
Lease Type
NNN Ground Lease
Rent Per Square Feet
$16.76

Investment Highlights

  • 10-Year Absolute NNN Ground Lease with 10% Rental Increases Every 5 Years
  • Corporate Guaranty (NYSE: DRI; S&P: BBB-), Largest Full-Service Italian Restaurant Operator in the U.S. with 904 Locations
  • Below Market Rent Dramatically Increases Future Renewal Probability
  • Brand New High-Quality Construction, Latest Prototype
  • Serving Over 106,000 Residents in Growing Super Regional Trade Area
  • Surrounded by Several New Housing and Commercial Developments

Investment Overview

Marcus & Millichap is pleased to present the Olive Garden Ground Lease in Chesterfield Township, Michigan.

Exclusively Listed By

  • Phil Sambazis

    Executive Managing Director Investments

    (858) 373-3174

    Email Phil

    License(s): CA: 01474991

    San Diego

  • Brandon Hanks

    First Vice President Investments

    (858) 373-3224

    Email Brandon

    License(s): CA: 01416786, ID: SP39939

    San Diego

  • Evan P. Taylor

    Associate

    Email Evan

    License(s): CA: 01964433

    San Diego

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    License(s): MI: 6502387903

    Michigan

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