|Gross Leasable Area (GLA)||5,423 Sq.Ft.|
|Price Per Square Foot (GLA)||$368|
|Lot Size||1.60 Acres|
Marcus & Millichap is pleased to present for sale this absolute-net leased, fee-simple Ruby Tuesday. This well-located Ruby Tuesday is just 0.4 miles from Interstate 75 in Estero, Florida. This location has a corporate guarantee from Ruby Tuesday, Inc, operator of 599 locations and recently acquired by NRD Capital – a very successful private equity firm.
Ruby Tuesday has 4.5 years and four, 5-year option periods remaining on their original 15-year lease. This location has an exceptionally high sales volume with a 6.58 percent rent-to-sales ratio, positioning this location for long-term success.
Located between the cities of Ft. Myers and Naples, two rapidly growing areas, Estero itself is projected to experience massive growth in the coming years as these two growth fronts converge. The subject property is perfectly positioned among the area’s three major tourist destination outdoor shopping malls, Coconut Point, Miromar Outlets and Gulf Coast Town Center. This restaurant is an outparcel to the Lowe’s Home Improvement located at the intersection of Corkscrew Road and Three Oaks Parkway, which sees 38,500 vehicles per day on average. Arby’s, Culver’s, Dunkin Donuts, and Applebee’s are all thriving within a quarter mile radius of this property. The rapidly growing Florida Gulf Coast University is just two miles away with over 16,000 students enrolled.
Corkscrew Road is the main east-west thoroughfare that connects Interstate 75 and South Tamiami Trail. South Tamiami Trail is a major north-south artery within the city of Estero and provides direct access to several dozen current and planned residential developments, high income golf communities, and is a convenient bypass for locals to avoid the heavy traffic on Interstate 75.