10206 N Michigan Rd - Restaurant FOR SALE


Carmel, IN 46032
$3,795,000 USD
859-221-4080
10206 N Michigan Rd, Carmel, IN for Sale
$3,795,000 USD
Restaurant - FOR SALE
1/3
null | 6.18% Cap Rate

10206 N Michigan Rd
Carmel, IN 46032


HIGHLIGHTS

  • Located in a very active business area. Traffic count +/- 35,000 VPD
  • Olive Garden is a well known brand and has locations all over the United States.
  • Darden Restaurants, the owner of Olive Garden, is one of biggest restaurant companies in the U.S.

OVERVIEW

RARE OPORTUNITY! Attention investors, don’t miss the opportunity to acquire this extremely well located, Olive Garden leased property, located in the beautiful city of Carmel Indiana. The NNN lease has just over five and a half years remaining in the primary (15) year lease term, plus five lease renewal options of five years each. Olive Garden is owned by Darden Restaurants Inc. The current net operating income is $234,543.00, and there are 1% scheduled rental increases each year of the current term, as well as increases during the option terms. All offers shall be subordinate to the tenants Right of First Offer. In association with Chip Sprigg Realty, Indiana license Number RB 14020348.

FOR SALE DETAILS

PRICE

$3,795,000 USD

PRICE/SF

$500 USD /SF

CAP RATE

6.18%

% 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

2013

SPRINKLERS

-

PARKING SPACES

142

LAND DETAILS

LAND ACRES

2.86 AC

LAND SF

124,582 SF

ZONING

-

APN/PARCEL ID

29-13-07-000.011.001-018,29-13-07-008-001.001-018 &

ASK ABOUT THIS PROPERTY

Jack FoleyJack Foley Realty LLCMore Info
859-221-4080

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Jack FoleyJack Foley Realty LLCMore Info
859-221-4080

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.