Ground Lease Guaranteed by Darden Restaurant Inc.

Sold Retail-Commercial
Catylist Listing ID: 30029921
Property Subtypes: Free-Standing Building, Restaurant
Property Type: Retail-Commercial
Archived As: Sold

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.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 0104070012-16, 01040700-12
Retail Clientele: Business
Property Located Between: Gulf Gate Drive and Tamiami Trail
Largest Nearby Street: Clark Road
Highway Access: Tamiami Trail
Airports: SRQ
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

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,237 57,589 119,989
Median Age: 54.67 53.85 52.69
Households: 5,376 28,734 58,014


Photograph of Listing Agent

Leon R Delieto Jr PA

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