Ruby Tuesday | Rock Hill, SC | Early Renewal
Charlotte MSA | 41,000 VPD | 2% Annual Bumps
Marketing description
Matthews™ is pleased to present the opportunity to acquire a fee simple, single-tenant net-leased Ruby Tuesday located at 1410 Old Springdale Road in Rock Hill, SC, just 30 minutes south of downtown Charlotte. The offering represents an incredibly attractive opportunity to acquire a recently extended, trophy real estate asset in one of fastest growing and most attractive suburbs in the entire Southeast. Positioned just off of I-77, one of the Carolinas’ major interstates running directly into Charlotte, the property is located in a phenomenal retail pocket with numerous shopping centers, retail attractions, multifamily complexes, hotels, and new developments in the immediate surrounding area.
Situated on a ±1.13-acre lot, the ±5,610 SF property is located in the heart of the Rock Hill retail and auto dealership trade area which includes the Rock Hill Galleria, Walmart, Lowe’s, Food Lion, Sam’s Club, Academy Sports, Hobby Lobby, Kohl’s, Target, Best Buy, and several others. The immediate trade area attracts over 15M visitors and represents a very high barrier to entry market, making this Property very attractive for investors.
Investment highlights
Property Highlights
- Trophy Location | High Barrier to Entry Market: The Property offers a rare opportunity to enter one of Rock Hill’s most sought-after retail corridors, where available acquisition opportunities are extremely limited. This high barrier to entry underscores the long-term value and desirability of the location.
- Early 5-Year Extension | Corporate Guarantee: The tenant has proactively exercised an early 5-year lease extension, demonstrating strong commitment to the site and reinforcing the location’s strategic importance for retail operations. The corporate guarantee further enhances the security of the income. .
- Strong Traffic Counts | Signalized Corner Location: Positioned on the hard, signalized corner of Dave Lyle Blvd and Galleria Blvd, the Property benefits from exceptional visibility and access. This high-traffic intersection sees over ±41,000 vehicles per day, providing consistent consumer exposure.
- Built-In Rent Growth | 2% Annual Escalations: The lease structure includes 2% annual rent increases, providing predictable income growth and enhancing long-term cash flow and investment performance.
- Charlotte, NC MSA: Rock Hill is a rapidly growing suburb within the Charlotte MSA, located just 30 minutes south of downtown Charlotte and Charlotte Douglas International Airport—one of the nation’s busiest hubs, serving over 53 million passengers annually.
- Strong Population Growth: Rock Hill has experienced steady population growth over the past decade, driven by its proximity to Charlotte and ongoing in-migration. This expanding population base supports continued demand for retail and dining concepts.
- Favorable Demographic Trends & Income Growth: The surrounding area has seen consistent increases in household income, with median household income exceeding approximately $75,000 within a 5-mile radius. These strong demographics support robust consumer spending and long-term tenant success.
- Ongoing Retail & Mixed-Use Development Pipeline: The Property is surrounded by significant ongoing development, including new retail centers, residential communities, and mixed-use projects. These developments are driving increased traffic, enhancing visibility, and contributing to the overall economic growth of the trade area.
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