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Ruby Tuesday | Abs NNN | Corp Guaranty 1830 Holiday Dr 4,590 SF Retail Building Athens, TN 37303 $2,115,000 ($460.78/SF) 6.50% Cap Rate
Investment Highlights
- Over 11 Years Remaining | Corporate Guaranteed | Scheduled Rental Increases
- Near Walmart Supercenter | Interstate 75 (43,900 VPD) |Congress Crossing (194,000 SF) | Strong Retail Corridor
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics in 5-Mile Trade Area
Executive Summary
SRS National Net Lease 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 Athens, Tennessee. The tenant, Ruby Tuesday, Inc has over 11 years remaining on their initial term 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.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,590 SF
Building Class
B
Year Built
2004
Price
$2,115,000
Price Per SF
$460.78
Cap Rate
6.50%
NOI
$137,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.86 AC
Zoning
B3 - Intensive Business District
Parking
116 Spaces (25.27 Spaces per 1,000 SF Leased)
Frontage
154’ on Holiday Dr
Amenities
- Freeway Visibility
- Pylon Sign
- Restaurant
Somewhat walkable
20/100
Exceptionally drivable
100/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 046-231.00 | Improvements Assessment | $343,120 |
| Land Assessment | $109,200 | Total Assessment | $452,320 |
Property Taxes
Parcel Number
046-231.00
Land Assessment
$109,200
Improvements Assessment
$343,120
Total Assessment
$452,320
Contacts
-
Parker Walter -
Winston Guest -
Patrick Luther -
Matthew Mousavi -
SRS National Net Lease
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Ruby Tuesday | Abs NNN | Corp Guaranty | 1830 Holiday Dr
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