Corp Ruby Tuesday | Walmart/Lowe's Outparcel
Early 5yr Renewal | 2% Annual Bumps
Marketing description
Matthews™ is pleased to present the opportunity to acquire a fee simple, single-tenant, net-leased Ruby Tuesday located in Wytheville, Virginia. The property is strategically positioned at the convergence of Interstate 77 and Interstate 81—one of the most heavily trafficked and significant highway intersections along the East Coast—providing exceptional visibility and access to both local and transient consumers.
This offering represents a compelling opportunity to acquire a well-located, highway-oriented asset that benefits from consistent daily traffic driven by regional commuters, long-distance travelers, and commercial logistics activity. The ±4,696 square foot building is situated on a well-sized 1.32 AC parcel within Wytheville’s primary retail corridor, offering strong accessibility and prominent frontage.
The immediate trade area is characterized by a dense concentration of national retailers, restaurants, and hospitality operators that cater to both residents and travelers. Wytheville serves as a critical stopover destination for motorists traveling between the Northeast, Midwest, and Southeast, supporting steady consumer demand and reinforcing the property’s long-term viability.
Surrounding national brands include Walmart Supercenter, Lowe’s, Food Lion, PetCo, and Walgreens, along with multiple nationally flagged hotels such as Holiday Inn, Hampton Inn, and Comfort Suites. The combination of premier interstate access, strong retail and hospitality synergy, and sustained tourism and logistics-driven traffic positions this asset as an attractive long-term net-leased investment opportunity.
Investment highlights
Property Highlights
- Premier Interstate Location | I-77 & I-81 Convergence: The Property is strategically positioned at the convergence of Interstates 77 and 81, two major transportation corridors with a combined traffic count exceeding 30,000+ vehicles per day. This prime location offers outstanding visibility and consistent exposure to a high volume of travelers throughout the year.
- Recent Lease Extension | Commitment to the Site: Tenant recently executed an early 5 year lease renewal ahead of schedule, leaving approximately 6 years remaining on their lease and demonstrating long-term commitment to the site.
- Absolute NNN Lease | Corporate Guarantee: The Property is secured by an absolute triple-net (NNN) lease, eliminating landlord responsibilities, and is backed by a corporate guarantee from Ruby Tuesday Operations LLC. This structure provides a truly passive investment with dependable, predictable cash flow.
- Attractive Rent Growth | 2% Annual Increases: The lease includes fixed 2% annual rent escalations, ensuring steady income growth and offering a built-in hedge against inflation over the lease term.
- Outparcel to Wytheville Commons | Dominant Regional Retail Hub: The Property is an outparcel to Wytheville Commons, a leading regional shopping destination anchored by Walmart Supercenter and Lowe’s, and shadow-anchored by prominent national retailers including Petco, Bealls, and First Community Bank. This high-performing retail hub generates substantial daily traffic and solidifies the Property’s position within Wytheville’s primary commercial corridor.
- Stable, Highway-Driven Demand: Wytheville’s location along key interstate routes makes it a natural stopping point for regional and long-distance travelers. This dynamic supports consistent restaurant demand fueled by tourism, trucking activity, and commuter traffic, independent of local population size.
- Strong Retail & Hospitality Synergy: The Property benefits from a dense cluster of national retailers and nearby hotels, creating a built-in and recurring customer base while reinforcing the area as a dominant dining and service destination within the market.
- High Barrier-to-Entry Interstate Corridor: The limited supply of developable land near the interstate interchange, combined with established retail density, creates significant barriers to entry for new competitors—helping protect long-term asset value and occupancy stability.
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