Litchfield, IL - 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 Litchfield, IL. The tenant, Ruby Tuesday, Inc., currently has 18 years remaining in their initial lease term 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 subject property is located along Corvette Road just off of State Highway 16 (10,500 VPD) with nearby direct on/off ramp access to Interstate 55 (23,400 VPD). State Highway 16 is one of the primary retail thoroughfares traveling through the town of Litchfield, providing the restaurant with excellent exposure. The site is positioned near the Holiday Inn and Hampton Inn just off the interstate, giving the store a direct consumer base to draw from. Nearby national/credit tenants in the area include a 24-hour Walmart Supercenter, Walgreens, Burger King, McDonald’s, Steak n’ Shake, and more, further increasing consumer traffic to the site.The 5-mile trade area is supported by population of approximately 8,000 with an average household income of $57,000.

---

Report Listing This listing was syndicated through:

Listing ID: a284o000000iC6MAAU