Single-Tenant NNN Restaurant Ground
For Sale
Contact for pricing
11450 Midlothian Turnpike, Richmond, VA 23235
For sale Carrabba’s Italian Grill on an absolute NNN ground lease with about 10 years remaining and scheduled 10% escalations.
Property Size6,692 SF
Price / SF$468.62
Days on Market59
Property Features for 11450 Midlothian Turnpike
General Information
Standard status
Active
Size
6,692 SF
Property subtype
Retail
Building Details
Year Built
2001
Tenancy
Single
Listing Agency:
JLL - New York City, New York
Listed By:
Alex Geanakos · License #IL: #475.189621
Source:
Crexi
Added: Jun 8
Changed: Jul 10
Last Checked: Aug 4 at 10:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JLL - New York City, New York
Investment Insights
Based on property information with market context.
The offering is a single-tenant Carrabba’s Italian Grill configured under an absolute NNN ground lease. The lease structure provides zero landlord responsibilities, and the existing term includes approximately 10 years remaining. Rent is scheduled to escalate by 10.0% every five years, supporting long-term contractual rent growth within the lease.
The property is located in the Richmond MSA in North Chesterfield, Virginia, with the asset identified as 11450 Midlothian Turnpike (as provided). This is a purpose-built, operator-specific restaurant investment where the tenant occupies the site under the stated ground lease terms.
This asset is well suited for investors seeking an absolute NNN ground lease ownership position with a single tenant and clearly defined rent escalation intervals. For brokers and tenants evaluating related opportunities, the key decision points here are the single-tenant lease profile, the approximate time remaining on the term, and the documented zero landlord responsibility structure. The contract terms are the primary driver of the property’s income characteristics as presented in the offering materials.
The property is located in the Richmond MSA in North Chesterfield, Virginia, with the asset identified as 11450 Midlothian Turnpike (as provided). This is a purpose-built, operator-specific restaurant investment where the tenant occupies the site under the stated ground lease terms.
This asset is well suited for investors seeking an absolute NNN ground lease ownership position with a single tenant and clearly defined rent escalation intervals. For brokers and tenants evaluating related opportunities, the key decision points here are the single-tenant lease profile, the approximate time remaining on the term, and the documented zero landlord responsibility structure. The contract terms are the primary driver of the property’s income characteristics as presented in the offering materials.
Key Highlights
- Single‑tenant Carrabba’s Italian Grill built in 2001, located at 11450 Midlothian Turnpike in North Chesterfield, VA (Richmond MSA).
- Absolute NNN ground lease with approximately 10 years of remaining lease term.
- Rent escalations of 10.0% every five years.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
762
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23235, VA
34,058
Population
14,973
Households
2.3
Avg Household Size
42
Median Age
50%
College-Educated
92%
High-School Grad
17.8 sq mi
ZIP Area
1,913
Density / Sq Mi
$89,959
Median Household Income
$54,403
Median Earnings
$1,663
Median Rent
$324,800
Median Home Value
Market
Vacancy Rate% for Retail in Richmond, VA
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - For sale Carrabba’s Italian Grill on an absolute NNN ground lease with about 10 years remaining and scheduled 10% escalations.
Where is this conventional restaurant located?
The property is located at 11450 Midlothian Turnpike Richmond, VA.
What is the asking price?
The asking price for this property is $3,136,000.
What are key features of this property?
This property features: Single‑tenant Carrabba’s Italian Grill built in 2001, located at 11450 Midlothian Turnpike in North Chesterfield, VA (Richmond MSA).; Absolute NNN ground lease with approximately 10 years of remaining lease term.; Rent escalations of 10.0% every five years.
