615 Valley Mall Pky - Restaurant FOR SALE


East Wenatchee, WA 98802
$2,525,217 USD
847-562-9280
615 Valley Mall Pky, East Wenatchee, WA for Sale
$2,525,217 USD
Restaurant - FOR SALE
1/4
null | 5.75% Cap Rate

615 Valley Mall Pky
East Wenatchee, WA 98802


HIGHLIGHTS

  • Wholly-owned subsidiary of Darden Restaurants – one of the largest full-service restaurant companies in the world
  • Demonstrated commitment – Olive Garden recently extended their lease through 2032
  • Wenatchee Valley Mall outparcel
  • Located just off State Route 285 (56,000 VPD)
  • Six figure average household income within five miles ($108,307)
  • NNN – Ground lease – No landlord responsibilities

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant ground leased Olive Garden property located in East Wenatchee, Washington. Olive Garden has successfully operated from this location since 2010 when it was constructed. Olive Garden recently demonstrated its commitment to the site by extending their lease through March 2032. The subject lease is a triple net ground lease with no landlord responsibilities. There are three 5-year renewal options remaining within 10% rental escalations in each. The 7,507 square-foot building is positioned on an outparcel to Wenatchee Valley Mall. The mall is anchored by Macy’s, Sportsman’s Warehouse, and Ross, all of which draw continual traffic through the corridor. The property benefits from its proximity to State Route 285, which experiences over 56,000 vehicles per day and is the main thoroughfare for Wenatchee. The area features a diverse mix of retailers including Costco, Safeway, Grocery Outlet, Petco, Marshalls, Chase Bank, Fred Meyer, Hobby Lobby, McDonald’s, JOANN, and several others. There are over 75,000 people living within a five-mile radius that earn a six-figure average household income of $108,307. Olive Garden is an American casual dining restaurant chain specializing in Italian American cuisine headquartered in Orlando, Florida. Italy serves as the inspiration for the brand, from its menus to its award-winning wine list to the Tuscan farmhouse design of its restaurants. As the largest chain of Italian themed full-service restaurants in the United States, Olive Garden operates 900+ locations globally and reported more than $4.8 billion in annual sales in FY2023. These improvements have coincided with Olive Garden’s tireless efforts to meet their guests’ growing demand for convenience through their successful Olive Garden To-Go platform and the national launch of large-party catering delivery.

FOR SALE DETAILS

PRICE

$2,525,217 USD

PRICE/SF

$336 USD /SF

CAP RATE

5.75%

% 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

67

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

2

APN/PARCEL ID

03-70-00-02924

ASK ABOUT THIS PROPERTY

John FeeneyThe Boulder GroupMore Info
847-562-9280

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John FeeneyThe Boulder GroupMore Info
847-562-9280

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