August, 28, 2019 – Luke Thompson of Horvath & Tremblay has successfully completed the sale of Ruby Tuesday in Gaylord, Michigan. Horvath & Tremblay procured the exchange buyer to complete the transaction at a sale price of $1,323,529.
The Ruby Tuesday is located at 499 Dickerson Road in Gaylord, Michigan. The stand-alone building consists of 5,654 square feet and sits on 1.64 acres of land. Ruby Tuesday has 18 years remaining on a corporately backed, NNN lease with four, 5-year options. The lease features rare 10% increases every five years throughout both the current term and the option periods. Ruby Tuesday sits in the middle of a dense retail corridor, and is shadow anchored by a 24-Hour Walmart Supercenter and Lowe’s. Additionally, the property is less than 1-mile from the Gaylord Regional Airport.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.