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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.

View Listing Documents
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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
Read More

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

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

View Listing Documents
Property Image
Property Image
Property Image
Property Image
Property Image
Gallery View Map Street View

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.

Read More

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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