3725 W Vernon Ave - Restaurant FOR SALE


Kinston, NC 28504
$1,385,000 USD
949-698-1105
3725 W Vernon Ave, Kinston, NC for Sale
$1,385,000 USD
Restaurant - FOR SALE
1/9
null | 6.5% Cap Rate

3725 W Vernon Ave
Kinston, NC 28504


HIGHLIGHTS

  • New 15-Year Lease | Options to Extend | Scheduled Rental Increases
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Major Thoroughfare | Excellent Visibility & Access | 1.65 Acre Parcel
  • Across from Kinston Pointe (250K SF) | Walmart Supercenter | Dense Retail Corridor
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

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 signed, freestanding, Ruby Tuesday investment property located in Kinston, NC. The tenant, Ruby Tuesday Operations LLC, just signed a brand new 15-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and option periods, 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.

FOR SALE DETAILS

PRICE

$1,385,000 USD

PRICE/SF

$256 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ruby Tuesday

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

90

LAND DETAILS

LAND ACRES

1.6 AC

LAND SF

69,696 SF

ZONING

B1

APN/PARCEL ID

450504539948,450504549169

ASK ABOUT THIS PROPERTY

Winston GuestSRS National Net LeaseMore Info
949-698-1105

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Winston GuestSRS National Net LeaseMore Info
949-698-1105

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.