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2400 Capitol Mall Dr SW
Olympia, WA 98502
Olive Garden · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Located within the Capital Mall trade area—Olympia’s dominant retail destination
- #2 restaurant location in Washington State and is within the top 5% of Olive Garden restaurants nationwide in terms of total visits (Placer.ai)
- Olive Garden is a flagship brand of Darden Restaurants, one of America’s largest and most reputable casual dining operators
- Features 4 years remaining on a NNN ground lease, providing passive, management-free income with no landlord responsibilities
- Tenant reports consistently robust sales, underscoring the strength of this high-performing location
- Olive Garden has maintained successful operations at this site for more than three decades
EXECUTIVE SUMMARY
The offering presents a rare opportunity to acquire a long-standing Olive Garden restaurant, prominently located in Olympia’s primary retail corridor. The property enjoys a highly visible pad position adjacent to Capital Mall, the region’s premier shopping destination, which attracts over 6.5 million annual visitors (Placer.ai). Olive Garden has been a fixture at this location for more than 30 years, demonstrating both the strength of the brand, the tenant’s strong reported sales, and its proven success. The property is backed by a NNN ground lease with approximately four years remaining, providing investors with reliable, passive income. The offering presents investors a compelling combination of long-term tenant performance, truly passive cash flow, and a prime regional location, providing dependable income and stability within Olympia’s most dynamic retail hub.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
9,100 SF
Building Class
B
Year Built
1979
Price
$2,690,000
Price Per SF
$295.60
Cap Rate
6.50%
NOI
$174,850
Tenancy
Single
Building Height
1 Story
Zoning
HDC-4
Frontage
119’ on Capitol Mall Dr SW
AMENITIES
- Bus Line
- Signage
PROPERTY TAXES
| Parcel Number | 12816430300 | Improvements Assessment | $47,249,200 |
| Land Assessment | $24,505,500 | Total Assessment | $71,754,700 |
PROPERTY TAXES
Parcel Number
12816430300
Land Assessment
$24,505,500
Improvements Assessment
$47,249,200
Total Assessment
$71,754,700
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