Sand Springs, OK - 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 Sand Springs, Oklahoma. 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 throughout 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 property is scheduled to open in February 2025.

Owner: Members of the selling entity hold an active real estate license

The Olive Garden is located at the signalized, hard corner intersection of Wilson Ave and Huskey Rd. Morrow Rd is a major retail thoroughfare serving the city of Sand Springs. The Olive Garden is located less than a mile from a 200,000+ square foot Walmart Supercenter, which includes outparcels of QuikTrip, Advance Auto Parts, RibCrib BBQ, and more. The asset is also located in close proximity to River West, which includes Aldi, McDonald’s, IHOP, O’Reilly Auto Parts, Holiday Inn Express, and more. Olive Garden is approximately 8 miles from Keystone Lake, which attracts over 2,500,000 visitors annually. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Chick-fil-A, Dutch Bros, Carl’s Jr, Taco Bell, Atwoods, and more, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 36,600 with an average household income of $84,116.