Cedar Hill, TX - Olive Garden

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Olive Garden investment property located in Cedar Hill, Texas (Dallas MSA). The tenant, Olive Garden Holdings, LLC recently signed a brand new 10-year lease, with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years of the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.

The Olive Garden is located near the signalized, hard-corner intersection of J Elmer Weaver and FM 1382, combining to average over 51,000 vehicles passing by daily. Both roads are major retail thoroughfares serving the city of Cedar Hill. The site is an outparcel to a 38,000+ square foot Haverty’s Furniture store. The asset is located less than a mile from a 223,000+ square foot Walmart Supercenter, complete with an Applebee’s outparcel. Olive Garden is located in close proximity to The Market at Cedar Hill, a 161,600+ square foot Kroger grocery and Burlington anchored center. In addition, the site is also across from Hillside Village Shopping Center, a 480,000 square foot mall anchored by Dick’s Sporting Goods and Barnes and Noble. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Target, Home Depot, Kohl’s, Hobby Lobby, Best Buy, JCPenney, Dillard’s, and more, further increasing consumer traffic to the site. The subject property is in close proximity to Midtown Cedar Hill Apartments (354 Units). The 5-mile trade area is supported by a population of over 132,700 with an average household income of $99,789.

---

Report Listing This listing was syndicated through:

Listing ID: a28TP000002EaX7YAK