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Views: 114 DOM: 517 Updated: 08.06.24 Posted: 06.16.23 Status: Active

Summary

Price $3,571,000
Built/Renov 2005/2023
Tenant Ruby Tuesday (LH)
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 7,335
Lease Start 12-01-2023
#Units 250
Price/SF $486.84
Expiration 11-30-2043
Tenant Type Casual Dining
NOI $250,000
R. Term 19.0
Ownership Leasehold
Rent/SF $34.08
Increases 10.0%/5/yrs
Pop 5Mi 651,535
Lot/AC 1.50
Options 4/5yrs/10%
AHHI 5Mi $92,650

Lease Highlights

  • Ruby Tuesday is currently undergoing a remodel with the latest prototype and is estimated for a December 2023/January 2024 reopening
  • Brand-new 20-year lease commencing at the close of escrow with 4 (5-year) options to extend
  • The lease features rare 10% rental increases every 5 years throughout initial term and options
  • Absolute NNN lease with zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

The subject property is located at the signalized, hard corner intersection of International Boulevard and Kapkowski Road, a busy route with daily traffic from the adjacent mall and hotels. Ruby Tuesday is also within half a mile from the on/off ramps to Interstate 95, which averages 269,300 vehicles per day. The site is strategically located between 5 designated Newark Airport hotels and The...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Ruby Tuesday
  • Guarantor:Corporate
  • Company:NRD Capital
  • # Units:250
  • Stock:Private

About Tenant

Ruby Tuesday Inc. is an American casual dining restaurant chain named after the Rolling Stones’ song of the same name. Founded in 1972, Ruby Tuesday currently owns, operates and franchises casual...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 10,641 209,672 658,487
2023 Total Population : 10,725 209,029 653,254
2023 Employed Civilian Pop : 4,674 96,626 302,784
2023 Total Businesses : 479 4,977 16,745
2023 Average Household Income : $ 70,358 $ 82,823 $ 93,057
2023 Total Consumer Spending : $ 203 M $ 5161 M $ 18287 M
2023 Median Age : 30 35 37
2023 Total Households : 3,350 72,235 229,243
2023 Pop Age 25+: Bachelor's Degree : 454 20,279 82,248
2023 Average Home Value : $ 381,700 $ 442,685 $ 496,352
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
2018 10,739 0.25 mi
Kapkowski Road 2019 16,395 0.26 mi
2018 10,739 0.27 mi
2018 9,957 0.33 mi
2018 8,755 0.34 mi
2018 9,957 0.36 mi
North Ave E Ikea Dr 2013 33,102 0.37 mi
North Avenue Ikea Dr 2017 22,378 0.37 mi
North Ave E I- 95 2018 8,624 0.37 mi
2018 8,755 0.38 mi

Listing Broker

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