Mebane, NC - Ruby Tuesday

Description:

SRS National Net Lease Group is pleased to present the rare opportunity to acquire Ruby Tuesday, a corporate guaranteed, absolute NNN leased investment property located in Mebane, North Carolina. The tenant, Ruby Tuesday Inc., executed a 15-year lease extension in December 2018, providing over 11.5 years of firm term remaining with 4 (5-year) options to extend. The lease features a 16% increase in March 2026, with 2% annual rental increases throughout the remainder of the initial term and option periods. This lease is absolute NNN with zero landlord responsibilities.

The Ruby Tuesday is strategically positioned along State Highway 119 (8,200 VPD), and adjacent to the Interstate 40 on/off ramps (86,000 VPD). Interstate 40 serves as a major east/west route traveling across the country from California to North Carolina. The site is located directly across from Lowe’s Home Improvement, promoting crossover traffic to the subject property. Other nearby national/credit tenants include a 24 hour Walmart Supercenter, Food Lion, O’Reilly Auto Parts, Dollar General, Walgreens, CVS Pharmacy, Advance Auto Parts, Goodwill, and more. Additionally, the asset is surrounded by multiple hotels including Hampton Inn, Holiday Inn Express & Suites, and the Fairfield Inn & Suites, providing a direct consumer base to draw from. The 5-mile trade area is supported by a population of over 41,700 residents with an average household income of $68,729.

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Listing ID: a288X000003lxw1QAA