2811 Plank Rd - Restaurant FOR SALE
Fredericksburg, VA 22401 |
2811 Plank Rd
Fredericksburg, VA 22401
HIGHLIGHTS
- Originally built in 2000, Olive Garden just extended the term on its absolute NNN ground lease by 10 years.
- The lease now has 10.2 years of primary term remaining and features 10% rent escalations in 2026 and in each of the two 5-year renewal options.
- Due to its two decades of operating history at the site, Olive Garden is paying an irreplaceable below market ground rent.
- Olive Garden paid full rent during the COVID crisis and did not ask for a rent abatement, evidencing the site’s viability.
FOR SALE DETAILS
PRICE
-
CAP RATE
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% LEASED
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TENANCY
-
BUILDING DETAILS
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Restaurant
TOTAL BUILDING SIZE
8084
STORIES
1
YEAR BUILT
2001
SPRINKLERS
-
PARKING SPACES
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LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
-
APN/PARCEL ID
7769-72-3980
