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Olive Garden 1820 SE 16th St 6,500 SF Retail Building Ames, IA 50010 $4,712,656 CAD ($725.02 CAD/SF) 5.50% Cap Rate
Investment Highlights
- NO LANDLORD RESPONSIBILITIES: New 10 year absolute NNN ground lease with 10% rent increases every 5 year, providing completely passive ownership.
- HIGHWAY VISIBILITY & ACCESSIBILITY: Strategically positioned at the con fluence of I-35 (46,950 VPD) and US- 30 (35,000 VPD),-
- FIRST LOCATION IN A MAJOR UNIVERSITY MARKET: This is First Olive Garden in Ames, home to Iowa State University (7 minute from campus) 31000 Students.
- PREMIER CASUAL DINING OPERATOR: Darden is the largest casual dining operator in the country, with 2,100 total restaurants across 10 brands.
- -offering the property offers excellent visibility and seamless connectivity, with a convenient 7-minute drive to Iowa State University.
- The property is supported by a population of approximately 60,000 residents within a 5-mile radius, delivering a diverse and consistent customer base.
Executive Summary
The offering presents an opportunity to acquire a newly built Olive Garden asset in Ames, Iowa, a major Big 12 college town anchored by Iowa State University, which has enrollment of more than 30,000 students. Olive Garden is strategically situated at the intersection of I-35 (46,950 VPD) and US-30 (35,000 VPD), making it convenient for locals, students, faculty, and visitors to frequent the restaurant. Additionally, Olive Garden is surrounded by ten hotels within two blocks (786 rooms) and 66,000 people living within a Five mile radius, catering to a diverse customer base which includes the university community.
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
6,500 SF
Building Class
C
Year Built
2026
Price
$4,712,656 CAD
Price Per SF
$725.02 CAD
Cap Rate
5.50%
NOI
$259,196 CAD
Tenancy
Single
Building Height
1 Story
Amenities
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Smoke Detector
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 09-13-200-040 | Improvements Assessment | $0 CAD |
| Land Assessment | $539,124 CAD | Total Assessment | $539,124 CAD |
Property Taxes
Parcel Number
09-13-200-040
Land Assessment
$539,124 CAD
Improvements Assessment
$0 CAD
Total Assessment
$539,124 CAD
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Olive Garden | 1820 SE 16th St
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