3805 Gulf Breeze PkwyGulf Breeze, FL 32563

Property Details for 3805 Gulf Breeze Pkwy

Year built

2002

Lot size

1.33 AC

Property size (Sq ft)

5,964 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee simple ownership (land and building) of a Ruby Tuesday restaurant in Gulf Breeze, Florida. The property boasts a 5,964 square foot building on a 1.33-acre lot, featuring 118 parking spaces. Built in 2002 and zoned C-1 Commercial, the property enjoys a prime location at 3805 Gulf Breeze Pkwy, situated on a signalized hard corner intersection with high visibility and highway frontage. The absolute NNN lease, with a corporate guarantee from Ruby Tuesday, Inc., commenced December 1, 2017, and has a remaining term of 13 years, with four 5-year renewal options. The lease includes a 10% rental increase every five years, providing consistent NOI growth and inflation protection. The current NOI is $144,404, resulting in a 6.25% cap rate and an asking price of $2,310,000 ($387.32/sq ft). Benefiting from strong demographics, the 5-mile trade area boasts a population exceeding 26,000 with an average household income of $131,000. The property's strategic location as a pad site to a Lowe's Home Improvement and adjacent to a Walmart Supercenter ensures high traffic volume. Nearby national tenants include Publix, Dollar Tree, Walgreens, and more, further enhancing the property's desirability. This is a management-free investment opportunity ideal for out-of-state investors. The property's APN is 28-2S-28-0000-01708-0000.

Location Insight

City

Gulf Breeze

County

Santa Rosa

State

Florida

Latitude

30.3897

Longitude

-87.0643

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