120 International Blvd Elizabeth, NJ 07201

Property Details for 120 International Blvd

Year built

2005

Lot size

1.50 lot acres

Property size

7,335 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a 7,335 square foot Ruby Tuesday restaurant located at 120 International Blvd, Elizabeth, NJ 07201. Boasting a prime location near Newark Liberty International Airport and The Mills at Jersey Gardens outlet mall, this property benefits from high traffic volume and strong consumer draw. The absolute NNN lease with a corporate guarantee from Ruby Tuesday Operations ensures minimal landlord responsibilities. The 20-year lease term includes four 5-year renewal options, with 10% rent increases every five years, providing consistent income growth and inflation protection. Built in 2005, the property sits on a 1.5-acre lot with 103 parking spaces and features a recently completed remodel. The property's strong financial performance is reflected in a 7.00% cap rate and a $250,000 annual net operating income (NOI). The asking price is $3,571,000, translating to $486.84 per square foot. The property is zoned for commercial use and enjoys excellent visibility at a signalized intersection with high daily traffic counts from I-95 and the surrounding area. The 5-mile trade area boasts a population exceeding 651,500 with an average household income of $92,650, further solidifying the investment's potential. This is a truly exceptional opportunity for a passive investor seeking a stable, high-return investment with significant long-term growth prospects. The property's APN is 2004_1_1380A3B1.

Location Insight

City

Elizabeth

County

Union

State

New Jersey

Longitude

-74.1756

Latitude

40.6624