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Restaurant

Olive Garden (Ground Lease)

3807 North Expy, Brownsville, TX 78520

Listing Price: $3,630,000

Cap Rate
5.00%
Tenant Name
Olive Garden
Years Remaining On Lease
6.1
Gross SF
7,916
Guarantor
Corporate Guarantee
Rentable SF
7,916
Price/Gross SF
$458.56
Lease Type
Ground Lease
Rent Per Square Feet
$22.93

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a corporately guaranteed Olive Garden ground lease in Brownsville, Texas. The property consists of a 7,916-square foot, freestanding building that sits on approximately 1.02 acres of land. There are approximately 6 years remaining on the current lease term, with 10 percent rental escalations scheduled every five years in the options. The property has excellent access and visibility off U.S. Route 77, where traffic counts exceed 98,939 vehicles per day. U.S. Route 77 is a major north-south route that connects the U.S. and Mexico border. The area is extremely dense with more than 159,941 residents within a five-mile radius. 30 minutes from the subject property is Matamoros, Mexico—a border city with a population of 571, 000. Surrounding retailers in the immediate area include Target, Lowe’s, The Home Depot, PetSmart, Office Depot, Best Buy, Hobby Lobby, IHOP, Raising Cane’s, Starbucks, Texas Roadhouse, Chick-fil-A and many more.

Investment Highlights

  • Corporate Ground Lease with Approximately 6 Years Remaining
  • Frontage on U.S. Route 77- Major Route to the U.S./Mexico Border (98,939 Vehicles per Day)
  • 7 Miles from the Port of Brownsville ($3 Billion in Annual State Economic Activity)
  • Heavy Retail Corridor – Olive Garden is in a New Retail Development Near Sunrise Mall
  • More than 159,941 Residents Within a Five-Mile Radius
  • 30 Minutes to Matamoros, Mexico (Population of 571,000)
  • Large 1.02 Acre Parcel with Ample Parking and Multiple Access Points
  • Brownsville has a Growing Aerospace Industry Anchored by SpaceX's Boca Chica Launch Site

Exclusively Listed By

Financing By

Restaurant

Olive Garden (Ground Lease)

Listing Price: $3,630,000

Cap Rate
5.00%
Tenant Name
Olive Garden
Years Remaining On Lease
6.1
Gross SF
7,916
Guarantor
Corporate Guarantee
Rentable SF
7,916
Price/Gross SF
$458.56
Lease Type
Ground Lease
Rent Per Square Feet
$22.93

Investment Highlights

  • Corporate Ground Lease with Approximately 6 Years Remaining
  • Frontage on U.S. Route 77- Major Route to the U.S./Mexico Border (98,939 Vehicles per Day)
  • 7 Miles from the Port of Brownsville ($3 Billion in Annual State Economic Activity)
  • Heavy Retail Corridor – Olive Garden is in a New Retail Development Near Sunrise Mall
  • More than 159,941 Residents Within a Five-Mile Radius
  • 30 Minutes to Matamoros, Mexico (Population of 571,000)
  • Large 1.02 Acre Parcel with Ample Parking and Multiple Access Points
  • 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 corporately guaranteed Olive Garden ground lease in Brownsville, Texas. The property consists of a 7,916-square foot, freestanding building that sits on approximately 1.02 acres of land. There are approximately 6 years remaining on the current lease term, with 10 percent rental escalations scheduled every five years in the options. The property has excellent access and visibility off U.S. Route 77, where traffic counts exceed 98,939 vehicles per day. U.S. Route 77 is a major north-south route that connects the U.S. and Mexico border. The area is extremely dense with more than 159,941 residents within a five-mile radius. 30 minutes from the subject property is Matamoros, Mexico—a border city with a population of 571, 000. Surrounding retailers in the immediate area include Target, Lowe’s, The Home Depot, PetSmart, Office Depot, Best Buy, Hobby Lobby, IHOP, Raising Cane’s, Starbucks, Texas Roadhouse, Chick-fil-A and many more.

Exclusively Listed By

Financing By

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