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Olive Garden 10206 N Michigan Rd

7,590 SF Retail Building Carmel, IN 46032 $5,330,761 CAD ($702 CAD/SF) 6.18% Cap Rate

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Investment Highlights

Located in a very active business area. Traffic count +/- 35,000 VPD
Darden Restaurants, the owner of Olive Garden, is one of biggest restaurant companies in the U.S.

National, very well known, tenant

Executive Summary

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 under six 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, which has a BBB S&P credit rating. 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. Offers are subordinate to the tenants First Right of refusal. In association with Chip Sprigg Realty, Indiana license Number RB 14020348.

Financial Summary (Actual - 2024) Click Here to Access	Annual (CAD)	Annual Per SF (CAD)
Gross Rental Income	-	-
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	-	-
Net Operating Income	$99,999	$9.99

Financial Summary (Actual - 2024) Click Here to Access

Gross Rental Income (CAD)
Annual	-
Annual Per SF	-

Other Income (CAD)
Annual	-
Annual Per SF	-

Vacancy Loss (CAD)
Annual	-
Annual Per SF	-

Effective Gross Income (CAD)
Annual	-
Annual Per SF	-

Net Operating Income (CAD)
Annual	$99,999
Annual Per SF	$9.99

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Restaurant

Building Size

7,590 SF

Building Class

Year Built

2013

Price

$5,330,761 CAD

Price Per SF

$702 CAD

Cap Rate

6.18%

NOI

$329,441 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.06

Land Acres

2.86 AC

Parking

142 Spaces (10 Spaces per 1,000 SF Leased)

Frontage

152 ft on N Michigan Ave.

Amenities

Restaurant

Monument Signage

Air Conditioning

Fiber Optic Internet

Accommodation and Food Services
99,999 SF
$9.99
Lorem Ipsum
Jan 0000

Founded in 1982, Olive Garden is owned by Darden Restaurants, Inc. (NYSE:DRI), the world's largest company-owned and operated full-service restaurant company. Olive Garden is the leading restaurant in the Italian casual dining segment. 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. Most of all, Olive Garden is inspired by the warmth and genuine hospitality of the Italian people, as well as the importance of family in their culture. This passion for Italy led to the establishment of Olive Garden's Culinary Institute of Tuscany in 1999.