Olive Garden (Recent Lease Extension)

Olive Garden (Recent Lease Extension)

Brownsville, TX

Brownsville, TX

Olive Garden (Recent Lease Extension)

The offering presents an opportunity to acquire an Olive Garden restaurant operating under a corporate-guaranteed ground lease with a recent lease extension and located along North Expressway 83 in Brownsville, Texas, with exposure to approximately 106,362 vehicles per day. According to Placer.ai, the property ranks in the top 15% nationwide among Olive Garden locations by annual visits. Darden operates both Olive Garden and LongHorn Steakhouse within the development, reflecting a sustained operational commitment and established presence at the site.

Price $3,534,000
Cap Rate 5.65%
Building Size 8,916 sqft
Lot Size 1.03 acres
Year Built 2017
Offering Memorandum

Vincent Knipp

Senior Managing Director Investments
(972) 755-5205
vincent.knipp@marcusmillichap.com
License: TX 0579633
FINANCING TEAM

Duke Dennis

Director
(817) 932-6172

 

  • Recent Lease Extension - Corporate Ground Lease With 11.7 Years Remaining
  • High-Performing Location — Top 15% Nationally | 367,700 Visits (Last 12 Months)
  • 7,916 SF Freestanding Building Within the 10-Acre Las Palmas Retail Development
  • Frontage on U.S. Route 77 — Major Route to the U.S./Mexico Border (106,362 VPD) Near Sunshine Mall
  • Corporate Guarantee — Darden Restaurants, Inc. (NYSE: S&P: BBB)
  • Dense Trade Area With 164,014 Residents and 157,812 Daytime Employees (5-Mile Radius)
  • Seven Miles from the Port of Brownsville and Approximately 30 Minutes to Matamoros, Mexico
  • Brownsville–Harlingen Metro | Population of Approximately 430,000

Vincent Knipp

Senior Managing Director Investments
(972) 755-5205
vincent.knipp@marcusmillichap.com
License: TX 0579633
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