65 Son-Lan Pky - Restaurant FOR SALE
Garner, NC 27529 |
$2,250,000 USD
214-295-8753
65 Son-Lan Pky
Garner, NC 27529
HIGHLIGHTS
- Prime Location within the Raleigh MSA: Garner benefits from its strategic proximity to Raleigh, a core market within the Research Triangle
- Built-In Rent Growth: The lease features fixed 2% annual rent increases, providing consistent income growth and enhancing long-term cash flow
- Strong Unit Performance: The property demonstrates strong in-place sales with a rent-to-sales ratio of 7.34%
- Absolute NNN Lease: The asset is secured by an absolute NNN lease with a corporate guarantee from Ruby Tuesday Operations LLC
- High Visibility Location: Positioned along a major retail corridor with traffic counts exceeding 64,000 vehicles per day on Interstate 40
- Expansive Site: Situated on a large 1.88-acre parcel, the property offers strong underlying real estate fundamentals, efficient site layout
FOR SALE DETAILS
PRICE
$2,250,000 USD
PRICE/SF
$479 USD /SF
CAP RATE
6.73%
% 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
2005
SPRINKLERS
-
PARKING SPACES
130
LAND DETAILS
CROSS STREETS
NC-42 Hwy
LAND ACRES
1.99 AC
LAND SF
86,684 SF
ZONING
I-2
APN/PARCEL ID
06E02003X
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214-295-8753
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214-295-8753
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