Olive Garden NNN — Johnson City, TN

Updated November 4, 2026

$2,467,000 · 5.25% CAP · 4.8 YRS

Olive Garden restaurant at 1903 North Roan Street in Johnson City, about 8,950 SF on 0.99 acres, built in 1990 and renovated in 2021, on an absolute NNN ground lease to GMRI, Inc., a Darden Restaurants entity. Asking $2,467,000, a 5.25% cap on the $129,509 rent that begins 9/1/2027; current rent is $126,969, a 5.15% cap. About 4.8 years remain through August 2031, with 2% annual increases and three 5-year options. The tenant holds a 60-day right of first refusal, and the buyer owns the land, not the building. Measured against all 204 active BuyNNN listings, whose median cap is 5.75%, this ask sits 50 basis points lower.

Lease Abstract

Price

$2,467,000

Cap rate

5.25% CAP

NOI

$129,509

Term remaining

4.8 YRS

Lease type

Absolute NNN Ground Lease

Increases

2% every year; about 10% at each option

Options

3 x 5-year

Building

8,950 SF

Lot

0.99 AC

Year built

1990

Renovated

2021

Listing information is deemed reliable but not guaranteed — pricing, cap rates, and lease terms are subject to change, prior sale, or withdrawal without notice.

Property Details

8,950 SF building, built 1990, renovated 2021, 0.99 acres of land. Ground lease priced at $2,491,919 per acre. Rent increases: 2% every year; about 10% at each option. Renewal options: 3 x 5-year. Primary term ends around 2031 (4.8 yrs left at listing, Nov 2026).

Location

Johnson City, Tennessee — 1903 North Roan Street, Johnson City, TN 37601. Full address and offering memorandum released on request — see our Olive Garden tenant guide and the Tennessee market page for the underwriting context.