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145 Commonwealth Avenue, Wytheville, VA, 24382

Ruby Tuesday
$2,750,000

Key Information

Cap Rate
7.12%
$ per SF
$585
Tot. SF
4,696
Lot Size
1.32 Acres
Year Built
2001
Term Remaining
± 6 Years
Type
Retail
NOI
$195,899

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.
  • 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.

Photos

Location

Agents

Broker of Record

Kyle Matthews

License # 226035518, 225225982 (VA)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203