Triple-Net Ruby Tuesday
For Sale
Contact for pricing
1238 National Hwy, Lavale, MD 21502
Single-tenant absolute triple-net Ruby Tuesday with a corporate-guaranteed lease and approximately 15 years remaining.
Property Size5,732 SF
Price / SF$318.53
Days on Market134
Property Features for 1238 National Hwy
General Information
Standard status
Active
Size
5,732 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$141,500
Building Details
Year Built
2000
Buildings
1
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Kyle Matthews, CCIM · License #20170883
Source:
Crexi
Added: Apr 24
Changed: Aug 26
Last Checked: Sep 2 at 12:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews
Investment Insights
Based on property information with market context.
This is a single-tenant, absolute triple-net (NNN) Ruby Tuesday restaurant investment. The property is leased to Ruby Tuesday Operations LLC under a corporate-guaranteed lease with approximately 15 years of remaining term. Rental increases are structured at 10% every five years, designed to provide scheduled rent growth over the lease term.
The restaurant is located on National Hwy in La Vale, Maryland, within a high-visibility retail corridor in Allegany County. The area is adjacent to numerous national retailers, including McDonald’s, Lowe’s Home Improvement, KFC, Denny’s, Taco Bell, Starbucks, AutoZone, Dairy Queen, CVS, Bob Evans, Wendy’s, Arby’s, Cracker Barrel, and near major roadways.
The restaurant is located on National Hwy in La Vale, Maryland, within a high-visibility retail corridor in Allegany County. The area is adjacent to numerous national retailers, including McDonald’s, Lowe’s Home Improvement, KFC, Denny’s, Taco Bell, Starbucks, AutoZone, Dairy Queen, CVS, Bob Evans, Wendy’s, Arby’s, Cracker Barrel, and near major roadways.
Key Highlights
- Single‑tenant Ruby Tuesday restaurant built in 2000 in La Vale, Maryland
- Absolute triple‑net (NNN) lease structure with zero landlord responsibilities
- Leased to Ruby Tuesday Operations LLC under a corporate‑guaranteed lease
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$130,353
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,607,060
$2.6M
Cap Rate 7%
$1,862,186
$1.9M
Cap Rate 9%
$1,448,367
$1.4M
Market Conditions
NOI Build-Up for 5,732 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$196.0K $34.20/SF
− Vacancy
−$22.2K −$3.88/SF
EGI
$173.8K $30.32/SF
− OpEx
−$43.5K −$7.58/SF
NOI
$130.4K $22.74/SF
Area
Allegany County, MD
Vacancy
11.34%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,607,060
Cap Rate 7%
$1,862,186
Cap Rate 9%
$1,448,367
Alternative Uses
Best Use
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,353 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.13M
$1.86M – $2.48M
NOI $148,801 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
533k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 33%
Dining 32%
Home Improvements & Furnishings 14%
Apparel 8%
Chick-fil-A
Dining
57,929 visits/mo
0.4 miles
Sheetz
Shops & Services
57,203 visits/mo
0.4 miles
Gabe's
Shops & Services
43,499 visits/mo
0.3 miles
Martin's Food Market
Groceries
39,342 visits/mo
0.4 miles
Lowe's
Home Improvements & Furnishings
38,435 visits/mo
0.4 miles
Demographics for 21502, MD
41,153
Population
19,562
Households
2.1
Avg Household Size
44
Median Age
20%
College-Educated
89%
High-School Grad
92.1 sq mi
ZIP Area
447
Density / Sq Mi
$58,721
Median Household Income
$39,507
Median Earnings
$771
Median Rent
$151,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Single-tenant absolute triple-net Ruby Tuesday with a corporate-guaranteed lease and approximately 15 years remaining.
Where is this nnn property located?
The property is located at 1238 National Hwy Lavale, MD.
What is the asking price?
The asking price for this property is $1,825,806.
What are key features of this property?
This property features: Single‑tenant Ruby Tuesday restaurant built in 2000 in La Vale, Maryland; Absolute triple‑net (NNN) lease structure with zero landlord responsibilities; Leased to Ruby Tuesday Operations LLC under a corporate‑guaranteed lease
