153 Andover St
Danvers, MA 01923
Olive Garden · Retail Property For Sale

The Jonna Group of Marcus & Millichap is pleased to present the exclusive listing for a 7,441-square foot fee-simple corporate Olive Garden located in the affluent city of Danvers, Massachusetts. Olive Garden has over 12 years remaining on their initial 15-year lease that consists of (5) 5-year options with ideal 1% annual rent increases. This investment offers an Absolute NNN lease structure that requires zero landlord responsibilities. The subject property is located as an out lot to Lowe’s Home Improvement, in the central retail area of Danvers. There are more than 166,000 people within a 5-mile radius of subject property, with a projected growth rate of over 2.5% by 2022. The average household income in this affluent community is $108,000 in a 3-mile radius. The property is surrounded by numerous major retailers such as Walmart Supercenter, Home Depot, Target, Costco, Apple, Nordstrom, and many more. Danvers is a town in Essex County, Massachusetts located on the Danvers River near the northeastern coast of Massachusetts. Originally known as Salem Village, the town is most widely known for its association with the 1692 Salem witch trials. It is also known for the Danvers State Hospital (one of the state’s 19th-century psychiatric hospitals, which was located here). As of the 2010 census, the town’s population was 26,493. Boston is the capital and largest city of the Commonwealth of Massachusetts. Boston also serves as county seat of Suffolk County. The city proper covers 48 square miles with an estimated population of 645,966 in 2014, making it the largest city in New England and the 24th largest city in the United States.