2304 N Wayne St, Angola, Indiana - CONFIDENTIAL OFFERING MEMORANDUM - LoopNet
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2304 N Wayne St, Angola, Indiana
CONFIDENTIAL OFFERING MEMORANDUM
Cyrus Rapinan Monte Alexander
CA BRE # 01885903 213.446.5366
858.733.1136 I cyrus@cyrusemilia.com RC 51500226
10717 Camino Ruiz Ste 246 San Diego, CA 92126 1221 Puerta Del Sol, Suite 600 San Clemente, CA 92673
RUBY TUESDAY
2304 N. Wayne Street
Angola, IN 46703
Asking $2,975,000
NOI $191,316 Annually
CAP Rate 6.43%
4,900 SF
56,584 SF Lot Size
Absolute NNN
Fee Simple Ownership
Year Built 2001
Current Lease Until 2021
Two 5-Year Renewal Options
*All information regarding this property is deemed to be reliable, however, no representation, guarantee, or warranty is
made to the accuracy thereof and is submitted subject to error, omissions, change of price, or withdrawal without notice.
Investment Overview
2304 N Wayne Street, Angola, Indiana
JDS Real Estate Services, Inc and Cyrus & Emilia Inc is pleased to present this opportunity to acquire this single tenant Ruby Tuesday,
corporate guaranteed, absolute NNN lease investment property located in Angola, Indiana. The current lease is until June of 2021 and
includes two 5-year renewal options. The tenant has expressed the desire to renew for a longer term with rental increases.
Ruby Tuesday Inc owns and franchises Ruby Tuesday brand restaurants. As of 2017, there were 596 locations in 41 states and 14 foreign
countries. The company-owned and operated restaurants are concentrated primarily in Southeast, Northeast, Mid-Atlantic and Midwest
of the United States, which are considered to be the company’s core markets. Ruby Tuesday was successfully acquired by NRD Capital,
an Atlanta-based privately equity firm that specializes in franchised and multi-location business investments. The acquisition closed and
became effective on December 21, 2017. NRD Capital invests in brands that offer superior products or services and compelling unit-
level economics in order to help them strategically grow through franchising. The firm was founded by Aziz Hashim in 2014, one of the
world’s leading experts on franchising. NRD Capital’s unique approach to investing, applying operating expertise and leveraging its wide
network of franchisees, in addition to infusing capital in its portfolio gives Ruby Tuesday a new strategy and capital to continue its
growth.
Investment Highlights
▪ Ruby Tuesday operates 41 states, 14 foreign countries and Guam, and generates sales in excess of $827 million (2017).
▪ Ruby Tuesday is #58 in Restaurant Business Top 500 Chains in the United States.
▪ Seasoned location. Successfully operating for 20 years.
▪ Angola is a city in Pleasant Township, Steuben County of Indiana, home to Trine University.
▪ Located just off the hard corner directly across Wal-Mart Supercenter and Walgreens.
▪ Absolute NNN Lease. Zero landlord responsibilities.
*All information regarding this property is deemed to be reliable, however, no representation, guarantee, or warranty is
made to the accuracy thereof and is submitted subject to error, omissions, change of price, or withdrawal without notice.Financial Analysis
Summary
TENANT RT Michiana Franchise, LLC LOT SIZE 1.299 Acres
Corporate Owned
PURCHASE PRICE $2,975,000 EXPENSE This is an absolute NNN lease.
REIMBURSEMENT Tenant is responsible for all
expenses.
CAP RATE 6.43%
GROSS LEASABLE 4,900 SF FINANCING All cash or obtain new
AREA financing by the close of
escrow.
YEAR BUILT 2001
TENANT INFO LEASE TERMS RENT SUMMARY
TENANT NAME SQ FT TERM INCREASE RENT ANNUAL INVESTOR RETURN
Ruby Tuesday 4,900 Current-06/30/21 $191,316 6.43%
1st Option: 07/1/21-
Renewal Options 10% $210,447 7.07%
6/30/26
2nd Option: 07/1/26-
10% $231,491 7.8%
9/30/31
*All information regarding this property is deemed to be reliable, however, no representation, guarantee, or warranty is
made to the accuracy thereof and is submitted subject to error, omissions, change of price, or withdrawal without notice.Community Profile
Key Facts
▪ 16,989 5-Mile Population
▪ $51,186 Median Household Income
▪ 39 Years Old Median Age
▪ ownerofoccupied
47% the 9,117 housing units are
and 24.4% are
▪
renter occupied.
$218,492 Median Home Value Top #10
“Micropolitan City”
In the United States
Population By Ethnicity
▪ 93.5% White
▪ 5.4% With Hispanic Origin
▪ 1.3% Black
▪
▪
1.2% Asian
1.9% Other Races Wingate by
▪ Diversity Index 21.5, compared to 64.3
nationwide.
Wynham
It is estimated that the total population will A 99-room hotel will
grow to 17,210+/- by 2023. open on May 01, 2019
*All information regarding this property is deemed to be reliable, however, no representation, guarantee, or warranty is
made to the accuracy thereof and is submitted subject to error, omissions, change of price, or withdrawal without notice.Brand Profile
History
Nearly forty-five years ago, a young man named Sandy Beall
hatched an idea that would lead to the creation of one Ruby
Tuesday. Ruby Tuesday was born of his vision of a restaurant
where the food and drinks were handcrafted, fresh, and full of
flavor, made with quality ingredients and prepared and served
by friendly, caring people who are passionate about their work.
From that first restaurant near the campus of the University of
Tennessee in 1972 to more than 600 restaurants across the
United States and around the globe, Ruby Tuesday grew to
become part of a large public foodservice company in 1982, to
be its own independent, publicly traded company in 1996, and
along the way to become one of the most well-known brands in
casual dining. As of December 21, 2017, NRD Capital, an
Atlanta-based private equity firm, acquired Ruby Tuesday Inc.
Mission
Quality means freshness. It’s fresh 100% USDA Choice or Prime
ground beef formed into perfectly grilled, handcrafted burgers
that redefine an American classic. Quality is seasonal vine
ripened tomatoes and crisp leaf lettuce still glistening with
garden dew. It’s applewood-smoked bacon and premium
cheeses and an uncompromising commitment to providing you
the best. Ruby Tuesday is committed to their customers’
enjoyment. The casual dining restaurant is passionate about
their menu, the design of their stores, and their customers.
Their staff is genuinely dedicated to serving customers.Operator Profile
The Lease Operator is RT Michiana Franchise, LLC, a subsidiary of
Ruby Tuesday, Inc, A Georgia Corporation.
Monte Alexander, RC 51500226
1221 Puerta Del Sol, Suite 600 I San Clemente, CA 92673
213.446.5366
Cyrus Rapinan, Managing Partner, BRE #01885903
Emilia Rapinan, Managing Partner, BRE #02034314
10717 Camino Ruiz Suite 246 I San Diego, CA 92126
858.733.1136 I cyrus@cyrusemilia.com
All information regarding this property has been obtained from sources deemed to be reliable, however, no representation, guarantee, or
warranty is made to the accuracy thereof and is submitted subject to error, omissions, change of price, or withdrawal without notice.You can also read
