Catylist ID: #30029921
Ground Lease Guaranteed by Darden Restaurant Inc.
Retail-Commercial for Sale
|Catylist Listing ID:||30029921|
|Property Subtypes:||Free-Standing Building, Restaurant|
|Building Size (RSF):||6,000 SF|
|Gross Land Area:||66,212 SF|
|Unit Price:||$391.67 PSF|
|Property Use Type:||Investment|
|Building Name:||Longhorn Steakhouse|
|Usable Size (USF):||6,000 SF|
|Sale Terms:||Cash to Seller|
Overview / Comments
NNN Ground Lease Investment Opportunity, guaranteed by NYSE traded Corporation.
Tenanted by Longhorn Steakhouse, a Division of Darden Restaurants, Inc.
14 years remaining with periodic rental escalations.
ROFR. Darden Corp. has thirty (30) days to respond to a bona fide offer to purchase.
Absolute NNN Ground Lease which expires 2030.
Guaranteed by Darden Restaurants, Inc.
Current ground lease yields $126,443 per year.
12% Income escalations in initial year of each remaining 5 year option.
|Nearest MSA:||North Port-Sarasota-Bradenton|
|Tax ID/APN:||0104070012-16, 01040700-12|
|Zoning:||CG - COMMERCIAL GENERAL|
|Property Located Between:||Gulf Gate Drive and Tamiami Trail|
|Largest Nearby Street:||Clark Road|
|Highway Access:||Tamiami Trail|
|Site Description:||The Subject Property is located on a high traffic, high visibility, major arterial in Sarasota County. The over-sized out-parcel fronts directly on Tamiami Trail with an ADT of 50,000 + and adjoining the Sarasota Pavilion Shopping Center, whose tenants include Publix, Bed Bath & Beyond, Ross, Marshall's, Panera Bread and more! Full service operating national chain restaurant on-site.|
|Total Number of Buildings:||1|
|Number of Stories:||1|
|Proximity:||1 mile||3 miles||5 miles|
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