Gulf Breeze, 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 Gulf Breeze, Florida. The tenant, Ruby Tuesday, Inc. signed a 20 year lease in 2017 with 4 (5-year) options to extend, demonstrating their commitment to the site. 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 near the signalized, hard corner intersection of Gulf Breeze Parkway/US Highway 98 and Avalon Blvd./Florida State Road 281 (combined 43,500 VPD) with excellent visibility, and highway frontage. The asset is strategically located as a pad to a Lowe’s Home Improvement and adjacent to a Walmart Supercenter, anchor tenants that generate tremendous traffic to the immediate area. Other nearby national/credit tenants include Publix, Dollar Tree, Walgreens, Sally Beauty, Anytime Fitness, Starbucks, Mattress Firm, Wells Fargo, and more. The property is situated within the wealthy neighborhood of Tiger Point, making the restaurant an easy and convenient food spot for the nearby residents. The site is only one mile east of the Tiger Point Golf Club, the only golf course on the Gulf Breeze peninsula. The 5-mile trade area is supported by a population of over 26,000 with an average household income of $131,000.