4467 S Laburnum Ave | Richmond, VA 23231
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- LoopNet Team
4467 S Laburnum Ave
Richmond, VA 23231
Olive Garden · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- ABSOLUTE NNN GROUND LEASE – The property operates under an absolute NNN lease, with the tenant responsible for all operating expenses
- LOW RENT PER SQUARE FOOT – The well below market rent of $14.79/SF offers savvy investors very limited downside and long-term upside.
- MARKET LEADING CASUAL DINING TENANT – The lease is guaranteed by GRMI, Inc. (wholly owned subsidiary or Darden Restaurants, Inc.)
- ANNUAL RENT INCREASES – Built-in 1.5% annual rent escalations enhance the investment’s income growth and hedge against inflation.
- LONG OPERATING HISTORY – The tenant has successfully operated at this location for over ±15 years and averages approximately 23,681 customer visits
- SECURE INCOME STREAM – The lease has nearly ±5 years of term remaining with five (5) additional 5-year renewal options, ensuring long-term income
PROPERTY FACTS
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,391 SF
Building Class
B
Year Built
2010
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.68 AC
Zoning
B-3C
Parking
102 Spaces (13.8 Spaces per 1,000 SF Leased)
Frontage
302’ on S Laburnum
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Number | 815-717-1615 | Improvements Assessment | $1,332,800 |
| Land Assessment | $1,464,200 | Total Assessment | $2,797,000 |
PROPERTY TAXES
Parcel Number
815-717-1615
Land Assessment
$1,464,200
Improvements Assessment
$1,332,800
Total Assessment
$2,797,000
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