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Virtual Drive-By

Olive Garden Absolute NNN

1820 Southeast 16th Street · Ames, IA 50010 · QSR / Restaurant

Asking price
$3,363,636
Cap rate
5.50%
NOI
$185,000

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Lease

Lease typeAbsolute NNN
Term remaining10.0 yrs
Expiration05/2036
Rent bumps10% Every 5 Years
Options4, 5 Year Options
Ground leaseYes
Credit profileCredit Rated + Corporate Guarantee
TenancySingle

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF6,500
Price / SF$542
Year built2026
Lot size1.59 ac
TypeQSR/Fast Food, Restaurant
Days on market94

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

  • ​NO LANDLORD RESPONSIBILITIES: New 10 year absolute NNN ground lease with 10% rent increases every 5 year, providing completely passive ownership.
  • ​PREMIER CASUAL DINING OPERATOR: Darden is the largest casual dining operator in the country, with 2,100 total restaurants across 10 brands around the country, including 944 Olive Gardens.
  • ​HIGHWAY VISIBILITY & ACCESSIBILITY: Strategically positioned at the confluence of I-35 (46,950 VPD) and US- 30 (35,000 VPD), offering the property offers excellent visibility and seamless connectivity, with a convenient 7-minute drive to Iowa State University—providing easy access for students, faculty, and the surrounding residential population.
  • ​FIRST LOCATION IN A MAJOR UNIVERSITY MARKET: This is the First Olive Garden in Ames, home to Iowa State University (7 minute drive to campus) with over 31,000 students. The property is supported by a population of approximately 60,000 residents within a 5-mile radius, delivering a diverse and consistent customer base driven by students, faculty, and the surrounding community.
  • ​PROXIMITY TO HOTELS: The property is surrounded by ten hotels within two blocks (786 rooms), creating a built-in demand driver within walking distance and attracting both transient visitors and business travelers to the restaurant.
  • ​SPACIOUS LOT WITH STRONG RESIDUAL VALUE: This brand-new building sits on a generous 1.59-acre lot, offering ample parking, excellent visibility, and significant residual value for potential future redevelopment or expansion.

Property overview

The offering presents an opportunity to acquire a newly built Olive Garden asset in Ames, Iowa, a major Big 12 college town anchored by Iowa State University, which has enrollment of more than 30,000 students.​ Olive Garden is strategically situated at the intersection of I-35 (46,950 VPD) and US-30 (35,000 VPD), making it convenient for locals, students, faculty, and visitors to frequent the restaurant.​ Additionally, Olive Garden is surrounded by ten hotels within two blocks (786 rooms) and 66,000 people living within a Five mile radius, catering to a diverse customer base which includes the university community.​

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Asking-market observation aggregated from public listing sources, last observed Sep 25, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.