1350 East-West Connector - Restaurant FOR SALE


Austell, GA 30106
$2,788,000 USD
813-758-8797
1350 East-West Connector, Austell, GA for Sale
$2,788,000 USD
Restaurant - FOR SALE
1/4
null | 5.2% Cap Rate

1350 East-West Connector
Austell, GA 30106


HIGHLIGHTS

  • Olive Garden is new on a 15-yr lease and the neighboring LongHorn recently signed an early long-term renewal
  • Darden is the nation’s most dominant sit-down restaurant group and carries an investment-grade, BBB credit rating (S&P)
  • 735 new housing units were built in the past two years behind Heritage Hills, and Wellstar Cobb Hospital with 1M+ annual visits is a half-mile away
  • Olive Garden led Darden’s brands in fiscal year 2024 with new restaurant openings and is Darden’s largest revenue source (44.5% of total sales)
  • The average same-store sales growth for Olive Garden from 2022 to 2024 was 5.67% per year
  • Olive Garden serves 190,000 people that live within 5 miles and the nearest Olive Garden locations are all over 10 miles away

OVERVIEW

Colliers, as exclusive broker, is pleased to offer the opportunity to acquire a brand-new construction, single-tenant Olive Garden (the “Property”) in Austell, Georgia, in the #1 state for doing business. This ideal long-term investment features a ground lease with easily replaceable rent that appreciates over time, ensuring passive income with no landlord management. The Property is occupied by a corporate tenant, Darden Restaurant’s most prominent brand, the nation’s most dominant sit-down restaurant group, offering stable cash flow, attractive 10% rent increases every five years, and future-proofing through scheduled store renovations. The investment-grade tenant is impressive and Olive Garden leads Darden’s fiscal year 2024 number of new restaurants (15), contributing 44.5% of $11.4 billion in total revenue, and achieving the company’s highest segment profit margin of 21.9%. Located in a densely populated area of over 190,000 residents within five miles, the Property enjoys high visibility at a hard corner along a major thoroughfare with 39,600 VPD. Situated in a retail hub near new housing developments, Wellstar Cobb Hospital, and various Fortune 500 headquarters, the Property is positioned to capitalize on strong consumer demand and growth in a powerhouse metro area.

FOR SALE DETAILS

PRICE

$2,788,000 USD

PRICE/SF

$357 USD /SF

CAP RATE

5.2%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Olive Garden

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.2 AC

LAND SF

52,272 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Michael BrewsterColliersMore Info
813-758-8797

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

Michael BrewsterColliersMore Info
813-758-8797

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