Ruby Tuesday NNN
For Sale
Contact for pricing
1360 Airport Rd, Jacksonville, FL 32218
Freestanding restaurant investment near Jacksonville International Airport with a triple net lease structure.
Property Size5,370 SF
Price / SF$488.64
Days on Market160
Property Features for 1360 Airport Rd
General Information
Standard status
Active
Size
5,370 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$177,100
Building Details
Year Built
2001
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Atlantic Capital Partners
Listed By:
David Hoppe · License #NC 288268
Source:
Crexi
Added: Mar 25
Changed: Aug 30
Last Checked: Mar 27 at 4:56AM
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 Atlantic Capital Partners
Investment Insights
Based on property information with market context.
This conventional restaurant property is identified with the Ruby Tuesday brand and offered under a triple net lease structure. The arrangement places responsibility for property taxes, insurance, and maintenance with the tenant, reducing the owner’s direct operating obligations.
The property is located at 1360 Airport Rd in Jacksonville, Florida, near Jacksonville International Airport. Its airport-area setting places the restaurant within a commercial environment described as including ongoing industrial and commercial development. The offering is positioned for an investor seeking a restaurant asset with an established lease framework and airport-area exposure.
The property is located at 1360 Airport Rd in Jacksonville, Florida, near Jacksonville International Airport. Its airport-area setting places the restaurant within a commercial environment described as including ongoing industrial and commercial development. The offering is positioned for an investor seeking a restaurant asset with an established lease framework and airport-area exposure.
Key Highlights
- Ruby Tuesday restaurant property
- Triple net lease structure
- Tenant responsible for taxes, insurance, and maintenance
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
$80,034
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
3.05%
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%
$1,600,680
$1.6M
Cap Rate 7%
$1,143,343
$1.1M
Cap Rate 9%
$889,267
$889.3K
Market Conditions
NOI Build-Up for 5,370 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
$116.0K $21.60/SF
− Vacancy
−$9.3K −$1.73/SF
EGI
$106.7K $19.87/SF
− OpEx
−$26.7K −$4.97/SF
NOI
$80.0K $14.90/SF
Area
ZIP 32218
Vacancy
8.00%
Lease Rate
$21.60 /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%
$1,600,680
Cap Rate 7%
$1,143,343
Cap Rate 9%
$889,267
Alternative Uses
Best Use
Specialty Retail
$1.14M
$1.00M – $1.33M
NOI $80,034 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,269 @ 7.0% cap · market cap 3.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
94k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 49%
Dining 46%
Shops & Services 5%
Zaxby's Chicken Fingers & Buffalo Wings
Dining
20,746 visits/mo
0.2 miles
LongHorn Steakhouse
Dining
16,260 visits/mo
0.1 miles
Ruby Tuesday
Dining
6,516 visits/mo
0.1 miles
Hyatt Place
Hotels & Casinos
5,854 visits/mo
0.2 miles
Springhill Suites Jacksonville North I-95 Area
Hotels & Casinos
4,759 visits/mo
0.1 miles
Demographics for 32218, FL
67,040
Population
27,895
Households
2.4
Avg Household Size
37
Median Age
26%
College-Educated
90%
High-School Grad
96.7 sq mi
ZIP Area
693
Density / Sq Mi
$68,363
Median Household Income
$37,322
Median Earnings
$1,416
Median Rent
$260,300
Median Home Value
Market
Vacancy Rate% for Retail in Jacksonville, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding restaurant investment near Jacksonville International Airport with a triple net lease structure.
Where is this conventional restaurant located?
The property is located at 1360 Airport Rd Jacksonville, FL.
What is the asking price?
The asking price for this property is $2,624,000.
What are key features of this property?
This property features: Ruby Tuesday restaurant property; Triple net lease structure; Tenant responsible for taxes, insurance, and maintenance
