Salisbury, MD - Ruby Tuesday

Description:

SRS National Net Lease 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 Salisbury, MD. The tenant, Ruby Tuesday Operations LLC, recently signed a brand new 15-year corporate signed lease with 4 (5-year) options to extend. The lease features 2% annual rental increases every 5 years throughout the initial term and 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 a passive investor.

Ruby Tuesday is located directly along N. Fruitland Boulevard which averages over 18,900 vehicles passing daily, and is the primary north/south retail and commuter thoroughfare serving the city of Salisbury. The property has excellent visibility and frontage along N. Fruitland Boulevard with clear points of ingress/egress and a prominent pylon sign. Ruby Tuesday is ideally located as an outparcel to a Walmart Supercenter which features an adjacent strip center with tenants including Dollar Tree, Verizon, GameStop, and more. Other nearby tenants include Big Lots, McDonald’s, Food Lion, Texas Roadhouse, Jersey Mike’s, and more, further increasing consumer traffic to the trade area. The restaurant is also just 1.5-miles south of Salisbury University with approximately 7,100 students enrolled, providing a strong direct consumer base from which to draw from. The 5-mile trade area is supported by a population of 70,700 residents and 43,200 employees with an average household income of $88,673.