Investment Offering
Kannapolis, NC - Ruby Tuesday
2461 Wonder Drive NE | Kannapolis, NC 28083
$1,500,000
Price6%
Cap Rate$90,000
NOI5,308
± SF Offering GLADescription
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 Kannapolis, North Carolina. The tenant, NRD Capital (dba Ruby Tuesday), 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.
Location
The Ruby Tuesday is conveniently located next to U.S. Highway 601 / Interstate 85 (73,000 vehicles per day), a major north-south corridor that connects Kannapolis to Charlotte. The site is easily accessible with its nearby direct on/off-ramp access and has excellent visibility from a highway. The property is located across from a Sam’s Club and benefits immensely by the increased consumer draw the anchor provides. Other nearby national/credit retailers include Walmart, Kohl’s, Hobby Lobby, Petco, Lowe’s, and more, further increasing consumer draw for the immediate trade area. The 5-mile trade area is supported by a population of 84,000 with an average household income of $58,000.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215