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Views: 53 DOM: 45 Updated: 11.01.24 Posted: 10.09.24 Status: Active

Summary

Price $2,507,096
Built/Renov 2019
Tenant Freddy's Frozen Custard & Steakburgers
Cap Rate 7.26%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,600
Lease Start 07-30-2019
#Units 1
Price/SF $964.27
Expiration 07-31-2034
Tenant Type Fast Casual/Rest.
NOI $181,921
R. Term 9.8
Ownership Fee Simple
Rent/SF $69.97
Increases 7.5%/5/yrs
Pop 5Mi 100,602
Lot/AC 1.00
Options 3/5yrs/7.5%
AHHI 5Mi $92,198

Lease Highlights

  • 9+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 7.5% rental increases every 5 years throughout the base term and in each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Strength in a reliable tenant | Personal guarantee and OH Steakburgers, LLC guarantee

Location Description

Freddy's Frozen Custard & Steakburgers is strategically located on S Arlington Road, a vital commercial corridor with access to 26,000 vehicles passing by daily. The property is surrounded by prominent national retailers, including Target, Taco Bell, Chipotle, Five Guys, Wendy's, Burger King, and more. Additionally, it is adjacent to multiple national hotel brands, such as Residence Inn,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Freddy's Frozen Custard & Steakburgers is an award-winning, American fast-casual restaurant chain. Its menu includes steakburgers, Vienna Beef hot dogs, and chicken sandwiches. The chain also...


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Listing Broker

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