Freddy's Frozen Custard & Steakburgers

863 Arlington Ridge East, Akron, OH 44312

$2,507,096

Cap Rate 7.26%

Views: 67 DOM: 77 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 9.7	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,...

...

Key Features

Dense retail corridor
Near major nationals
Strategically located
Freeway visibility
Strong tenant synergy
Top 100 MSA
Strong demographics
Absolute NNN
Personal guarantee

...

Links

Freddy's Frozen Custard & Steakburgers Wikipedia Freddy's Frozen Custard & Steakburgers Wikipedia Akron, Ohio Zip Code 44312 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Freddy's Frozen Custard
Guarantor:Franchisee
Company:OH Steakburgers, LLC
# Units:1
Stock:Private

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...

...

Listing Broker

Maxwell Watson

Sands Investment Group

Contact

8 Listings
717 Views
1 Sold

Scott Reid

ParaSell, Inc

Contact

35 Listings
2804 Views
5 Sold

Maxwell Watson

Sands Investment Group is a commercial real estate brokerage firm that specializes in the buying and selling of investment properties for private investors and institutions across the United States. Since its founding in 2010, SIG has closed over 4,100 plus transactions worth more than $8 Billion in 48 states. Advisors with the company currently have over $1.4 billion in active inventory. As a leader in the industry, SIG was first to offer true sub-product type specialization. The firm’s experi

...

Scott Reid

ParaSell, Inc. is a national real estate services and consulting firm that specializes in commercial leasing and investment sales. We work with principals across the nation and have a proven process, proprietary time-saving technology, dedicated support staff and a relentless commitment to customer service.

...

Doug Roland

Sands Investment Group

Contact

16 Listings
2246 Views
2 Sold

Doug Roland

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT