Crossville, TN - Ruby Tuesday

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Ruby Tuesday investment property located in Crossvile, Tennessee. The tenant, Ruby Tuesday, Inc., recently signed a brand new 20 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. As of December 21, 2017, NRD Capital, an Atlanta-based private equity firm, acquired Ruby Tuesday. Collectively, the team at NRD Capital has been involved in 20 brands, including Popeyes, Burger King, Subway, and more. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

The Ruby Tuesday is located along N. Main Street/127 U.S. Highway (27,900 VPD) with excellent visibility and access. The site is across from Lowe’s and in close proximity to a 24-hour Walmart Supercenter, which increases consumer draw to the subject trade area. Other nearby national/credit tenants include, Dollar General, Tractor Supply Co, Petsense, Ford, Cato and more, further increasing consumer traffic to the sorrounding area. The property site features a large pylon sign, providing excellent visibility and has easy accessibility with 3 points of ingress/egress. The 5-mile trade area is supported by population of nearly 22,000 with an average household income of $53,926.

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