Olive Garden NNN Properties for Sale (1 Listing)
1 active listing · Updated November 4, 2026
Olive Garden on this page means one live deal: a long-running restaurant pad in Johnson City, in the Tri-Cities region of northeast Tennessee, close to The Mall at Johnson City and I-26.
This is a single listing, not a survey of Darden real estate. Sister-brand inventory sits on LongHorn Steakhouse, and everything else is on properties for sale.
Quick Facts
- Typical cap range
- 5.25–5.25%
- Lease type
- Absolute NNN ground lease on the listed Johnson City, TN site
- Typical term
- About 4.8 years left on the listed site, plus three 5-year options
- Credit
- Tenant is GMRI, Inc., a Darden Restaurants entity; no rating stated in the listed package
Olive Garden Listings
Listing information is deemed reliable but not guaranteed — pricing, cap rates, and lease terms are subject to change, prior sale, or withdrawal without notice.
Get off-market Olive Garden deals
Short term, long history
The base term ends in 2031, so the price leans on renewal odds. A store that has traded at one address since 1990 and was remodeled in 2021 is a reason to expect an option exercise, but it is not a promise. Run the dates through the lease expiry calculator and ask for sales reporting if the lease allows it.
Nearby state pages
The listed restaurant is in Tennessee. Virginia and North Carolina are linked because their state pages sit next door; they do not describe where Olive Garden operates.
Olive Garden NNN FAQs
What Olive Garden NNN property is listed right now?
One restaurant on North Roan Street in Johnson City, Tennessee: about 8,950 SF on 0.99 acres, open at the site since 1990 and renovated in 2021. The ask is $2,467,000, and the land is sold subject to a ground lease.
Why are two cap rates quoted for the Johnson City deal?
The 5.25% figure divides the price by $129,509, the rent scheduled to start 9/1/2027. Rent in place today is $126,969, which works out to 5.15%. Underwrite on the number you will actually collect at closing.
How much lease term is left?
About 4.8 years of base term remain, through August 2031. Rent rises 2% each year, and three 5-year options follow, each with roughly a 10% step. The tenant also holds a 60-day right of first refusal on a sale.
What does a ground lease mean for the buyer here?
You buy the pad and collect ground rent; the tenant owns the building. That leaves little to depreciate, so compare after-tax yield with fee-simple restaurant deals before you choose.
Keep Exploring
Browse
Related Tenants
States with Inventory
Run the Numbers
Buying a Olive Garden? Get every matching deal — on and off market.
Free buyer representation. No obligation. Reply within 24 hours.