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 Crossville, Tennessee. The tenant, Ruby Tuesday, Inc., currently operates under a lease that commenced in December 2017 and runs through December 2037, providing approximately 11 years of remaining term. The lease features scheduled 10% rental increases every five years, including throughout the option periods, supporting long-term NOI growth and offering a hedge against inflation. The lease is structured as absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for an investor. 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 over 20 brands, including Popeyes, Burger King, Subway, and more.

The Ruby Tuesday is located along N. Main Street/127 U.S. Highway with excellent visibility and access. The site benefits from strong traffic counts, including approximately 18,600 VPD along N. Main Street and close proximity to I-40 (42,000 VPD). The property sits across from Lowe’s and Staples, which drives consistent consumer traffic to the area. Additional nearby national and credit tenants include Walmart Supercenter, Chick-fil-A, McAlister’s, Bojangles, Buc-ee’s, Dollar General, Petsense, Ford, Cato, and more, further enhancing the retail corridor. The site features a prominent pylon sign and convenient access via three points of ingress/egress. The 5-mile trade area is supported by a population of 22,443 and 15,464 employees, with an average household income of $78,215.

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Listing ID: a28TP000002aojVYAQ