4467 S Laburnum Ave - Restaurant FOR SALE
Richmond, VA 23231 |
$2,082,749 USD
202-536-3726
4467 S Laburnum Ave
Richmond, VA 23231
HIGHLIGHTS
- ABSOLUTE NNN GROUND LEASE – The property operates under an absolute NNN lease, with the tenant responsible for all operating expenses
- ANNUAL RENT INCREASES – Built-in 1.5% annual rent escalations enhance the investment’s income growth and hedge against inflation.
- LOW RENT PER SQUARE FOOT – The well below market rent of $14.79/SF offers savvy investors very limited downside and long-term upside.
- LONG OPERATING HISTORY – The tenant has successfully operated at this location for over ±15 years and averages approximately 23,681 customer visits
- MARKET LEADING CASUAL DINING TENANT – The lease is guaranteed by GRMI, Inc. (wholly owned subsidiary or Darden Restaurants, Inc.)
- SECURE INCOME STREAM – The lease has nearly ±5 years of term remaining with five (5) additional 5-year renewal options, ensuring long-term income
FOR SALE DETAILS
PRICE
$2,082,749 USD
PRICE/SF
$282 USD /SF
CAP RATE
5.25%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Olive Garden
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Restaurant
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2010
SPRINKLERS
-
PARKING SPACES
102
LAND DETAILS
LAND ACRES
1.68 AC
LAND SF
73,224 SF
ZONING
B-3C
APN/PARCEL ID
815-717-1615
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202-536-3726
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202-536-3726
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