Olive Garden Ground Lease
Single-Tenant Offerings
Olive Garden Ground Lease
27169 23 Mile Road
Chesterfield Township (Detroit MSA), MI
- Price:
- $2,407,000
- Cap Rate:
- 5.40%
- NOI:
- $130,000
- Rentable SQFT:
- 7,757
- Year Built:
- 2020
- Lot Size:
- 1.88 +/- Acres
- Lease Type:
- NNN Ground Lease
- Status:
- Under Contract
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
- Average Household Income Exceeds $85,000 within 3 and 5 Miles
- Highly Visible to 37,800 Cars/Day Along Primary Retail Corridor
- Easy Access to I-94 with Over 104,000 Cars/Day, Connects to Downtown Detroit
- Strategic Location, Outparcel to Meijer Anchored Center
- Dense Retail Corridor Includes Target, Home Depot, Lowe’s, TJ Maxx, Hobby Lobby, Kohl’s, Dick’s, Best Buy, and Many More
- Strong Daytime Population, Over 33,100 Employees within 5 Miles
- Close Proximity Several K-12 Schools, Over 16,000 Students in School District
- Just North of Selfridge Air National Guard Base with a Population of 50,000
- Minutes to Anchor Bay Access to Lake St. Claire with Millions of Visitors Annually
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