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Olive Garden 191 Saint Mark Ave 6,496 SF Retail Building Selma, NC 27576 $3,900,000 ($600.37/SF) 5% Cap Rate
Investment Highlights
- Passive investment structure with minimal management requirements.
- New 10-year NNN ground lease with Olive Garden, including four 5-year extension options.
Executive Summary
This offering represents a rare opportunity to acquire the leased fee interest in a newly constructed Olive Garden location in Selma, North Carolina. The property benefits from a brand-new, 10-year triple net (NNN) ground lease that commenced in February 2026 with Olive Garden, a credit-rated tenant backed by a corporate guarantee. The lease includes 10% rental increases every five years and during each option period, providing consistent income growth and a strong inflation hedge over the full term. Additionally, the lease structure limits landlord responsibilities, offering a truly passive investment vehicle for long-term stability.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leasehold)
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,496 SF
Building Class
B
Year Built
2026
Price
$3,900,000
Price Per SF
$600.37
Cap Rate
5%
NOI
$195,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.91 AC
Opportunity Zone
Yes
Zoning
IB - Commercial
Parking
125 Spaces (19.24 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
Somewhat walkable
20/100
Exceptionally drivable
100/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 12M12004V | Improvements Assessment | $0 |
| Land Assessment | $114,600 | Total Assessment | $114,600 |
Property Taxes
Parcel Number
12M12004V
Land Assessment
$114,600
Improvements Assessment
$0
Total Assessment
$114,600
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