Ruby Tuesday - Mechanicsville, Virginia
7425 Bell Creek Road, Mechanicsville, Virginia 23111
Net Leased Realty Partners is excited to bring the Ruby Tuesday in Mechanicsville, VA to the market. Mechanicsville, Virginia is 6 miles NE of Richmond, Virginia and 89 miles NW of Virginia Beach, Virginia. It is in Hanover county with over 105,000 residents. The town is part of the Richmond - Petersburg metro area. The population of Mechanicsville is
The subject site is an out-lot to a Super Wal-Mart Anchored Retail Center. The development is off of I-295 (90,000 VPD) and Hwy 360 (58,000 VPD). Other nearby retailers include Home Depot, Target, BJ’s Wholesale, Best Buy, Marshall’s, Kroger, Walgreens, CVS, Tractor Supply, Wells Fargo and BB&T. Other Restaurants include Chick-Fil-A, Taco Bell, McDonald’s, KFC, IHOP, Outback, Cracker Barrel and Applebee’s.
Ruby Tuesday Inc. is an American multinational foodservice retailer that owns, operates, and franchises Ruby Tuesday restaurants. The concept was started in 1972 by Samuel E. (Sandy) Beall, III. And is now owned and operated by NRD Capital. Founded in 2014 by Aziz Hashim, NRD Capital is a private equity firm based in Atlanta. They have 75 years of experience, own and operate 900 locations and have system-wide sales of over $1.5B. The company currently operates 460 Ruby Tuesday locations.
Corporate NNN Lease has 7 ½ years remaining on the term with Four, Five-year options to renew. Rent increases annually by 2%, including the option terms. The investment offers a passive income stream at an attractive yield with the above-market increases. Quality location with lots of traffic and area growth.
Absolute Net (NNN) Lease – The property is currently under a 15-Year Absolute Net (NNN) Lease, with approximately +/- 7.5 Years remaining until the tenant's option periods. The landlord is not responsible for the roof and structure of the property. The lease is guaranteed by Ruby Tuesday, Inc.
Outparcel to a Busy Wal-Mart Super Center - The subject Ruby Tuesday site sits as a parcel in front of a large Wal-Mart Shopping Center. The center benefits from strong traffic counts, pass by the Mechanicsville turnpike.
- Absolute NNN Lease w/ 7.5-Years Remaining
- High-Quality Build to Suit Construction
- Outparcel to Wal-Mart Anchored Center
- Operated by 300+ Unit Operator
- Growing Area -Ongoing Construction of SFR’s Behind Wal-Mart Center
10/23/2019 12:00:00 AM
1/17/2020 6:44:26 PM