Miami,FL - 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, corporate guaranteed, Ruby Tuesday investment property located in Miami, FL. 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 well-positioned along SW 152nd Street (67,900 VPD), and less than a half a mile from the Ronald Reagan Turnpike on/off ramps (163,500 VPD). The asset is also situated as an outparcel to a Home Depot Anchored Center, which helps promote crossover traffic to the subject property. Other nearby national/credit tenants include Publix, CVS Pharmacy, Walgreens, Family Dollar, Pet Supermarket, Advance Auto Parts, and more, further increasing consumer traffic to the subject property. The 5-mile trade area is supported by a dense population of over 357,000 with an average household income of $87,100.

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Listing ID: a284o000000iBt9AAE