Olive Garden Restaurant
For Sale
Contact for pricing
2810 Navarre Avenue, Oregon, OH 43616
Newly built restaurant on a dedicated pad site with a corporately guaranteed NNN ground lease.
Property Size6,489 SF
Lot Size1.35 Acres
Price / SF$403.97
Days on Market58
Property Features for 2810 Navarre Avenue
General Information
Standard status
Active
Size
6,489 SF
Lot size
1.35 Acres
Property subtype
Retail
Listing Agency:
CBRE - Philadelphia Suburban
Listed By:
Matthew Gorman · License #PA RS287470
(215) 603-6914
Source:
Crexi
Added: Aug 31
Changed: Oct 25
Last Checked: Oct 26 at 3:39PM
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 CBRE - Philadelphia Suburban
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Investment Insights
Based on property information with market context.
This newly built Olive Garden restaurant contains 6,489 square feet on a 1.35-acre pad site in Oregon, Ohio. The asset is operated under a 10-year NNN ground lease guaranteed by Olive Garden Holdings, LLC, a Darden Restaurants, Inc. subsidiary.
The lease includes 10% rent increases at five-year intervals during the initial term and option periods. The property is located at 2810 Navarre Avenue within the Toledo MSA.
The lease includes 10% rent increases at five-year intervals during the initial term and option periods. The property is located at 2810 Navarre Avenue within the Toledo MSA.
Key Highlights
- 6,489‑square‑foot Olive Garden restaurant completed as a new construction
- Situated on a 1.35‑acre pad site at 2810 Navarre Avenue
- 10‑year corporately guaranteed NNN ground lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,134
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,662,680
$1.7M
Cap Rate 7%
$1,187,629
$1.2M
Cap Rate 9%
$923,711
$923.7K
Market Conditions
NOI Build-Up for 6,489 SF
Gross rent
$116.8K $18.00/SF
− Vacancy
−$6.0K −$0.92/SF
EGI
$110.8K $17.08/SF
− OpEx
−$27.7K −$4.27/SF
NOI
$83.1K $12.81/SF
Area
Lucas County, OH
Vacancy
5.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,662,680
Cap Rate 7%
$1,187,629
Cap Rate 9%
$923,711
Alternative Uses
Best Use
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,134 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
302k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 22%
Superstores 7%
Electronics 5%
McDonald's
Dining
35,322 visits/mo
0.2 miles
Circle K
Shops & Services
32,379 visits/mo
0.4 miles
Big Lots
Superstores
22,264 visits/mo
0.4 miles
Circle K
Shops & Services
21,690 visits/mo
0.5 miles
Wendy's
Dining
20,963 visits/mo
0.2 miles
Demographics for 43616, OH
20,480
Population
8,901
Households
2.3
Avg Household Size
45
Median Age
24%
College-Educated
94%
High-School Grad
38.4 sq mi
ZIP Area
533
Density / Sq Mi
$82,105
Median Household Income
$42,696
Median Earnings
$876
Median Rent
$190,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Newly built restaurant on a dedicated pad site with a corporately guaranteed NNN ground lease.
Where is this conventional restaurant located?
The property is located at 2810 Navarre Avenue Oregon, OH.
What is the asking price?
The asking price for this property is $2,621,359.
What are key features of this property?
This property features: 6,489‑square‑foot Olive Garden restaurant completed as a new construction; Situated on a 1.35‑acre pad site at 2810 Navarre Avenue; 10‑year corporately guaranteed NNN ground lease
