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Restaurant

RibCrib

4505 Bienville Blvd, Ocean Springs, MS 39564

Listing Price: $1,808,000

Cap Rate
5.75%
Tenant Name
KTRG, LLC
Years Remaining On Lease
15.0
Guarantor
Personal Guarantee
Rentable SF
7,237
Lease Type
Ground Lease
Rent Per Square Feet
$14.37

Investment Overview

Marcus & Millichap is pleased to present RibCrib, a rare investment opportunity for an investor to purchase a truly iconic brand with a proven track record of success in the submarket of Ocean Springs, MS. This unique investment opportunity is ideally positioned in the path of progress and development with the City of Ocean Springs being identified as one of the primary new growth areas in their long-term comprehensive development plan. The tenant has put significant investment dollars into the opening of this location and acquired a larger footprint than their standard prototype with the intent of using this location as their corporate meeting space. This unit is also projected by the operator’s detailed business plan to do year one sales of $2,000,000 to $2,500,000. This would equate to a projected 4-5% rent to sales ratio, which further promotes how well positioned this group is to be successful at this location. This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location.

Investment Highlights

  • Remaining Lease Term - 15 Years
  • Rent Escalations - 10% Every 5 Years
  • Low Rent Per Square Foot - $14.37
  • Strong Average Daily Traffic Count - 26,000 Vehicles Per Day
  • Very High Average Household Income - $90,210
  • Recession & E-Commerce Proof

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Associate

    (901) 620-3600

    License(s) MS: 15586

    Mississippi

Listing Price: $1,808,000

Cap Rate
5.75%
Tenant Name
KTRG, LLC
Years Remaining On Lease
15.0
Guarantor
Personal Guarantee
Rentable SF
7,237
Lease Type
Ground Lease
Rent Per Square Feet
$14.37

Investment Highlights

  • Remaining Lease Term - 15 Years
  • Rent Escalations - 10% Every 5 Years
  • Low Rent Per Square Foot - $14.37
  • Strong Average Daily Traffic Count - 26,000 Vehicles Per Day
  • Very High Average Household Income - $90,210
  • Recession & E-Commerce Proof

Investment Overview

Marcus & Millichap is pleased to present RibCrib, a rare investment opportunity for an investor to purchase a truly iconic brand with a proven track record of success in the submarket of Ocean Springs, MS. This unique investment opportunity is ideally positioned in the path of progress and development with the City of Ocean Springs being identified as one of the primary new growth areas in their long-term comprehensive development plan. The tenant has put significant investment dollars into the opening of this location and acquired a larger footprint than their standard prototype with the intent of using this location as their corporate meeting space. This unit is also projected by the operator’s detailed business plan to do year one sales of $2,000,000 to $2,500,000. This would equate to a projected 4-5% rent to sales ratio, which further promotes how well positioned this group is to be successful at this location. This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Associate

    (901) 620-3600

    License(s): MS: 15586

    Mississippi

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