Andy's Frozen Custard

1200 East 15th Street, Edmond, OK 73013

$3,452,550

Cap Rate 6.00%

DOM: 370 Updated: 09.12.24 Posted: 05.02.24 Status: Active

Summary

Price $3,452,550	Built/Renov 2023	Tenant Andy's Frozen Custard
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,271	Lease Start 03-01-2023	#Units 18
Price/SF $1,520.28	Expiration 02-28-2043	Tenant Type Fast Food/QSR
NOI $207,154	R. Term 17.10	Ownership Fee Simple
Rent/SF $91.22	Increases 1.5%/1/yrs	Pop 5Mi 133,546
Lot/AC 0.00	Options 4/5yrs/1.5%	AHHI 5Mi $121,980

Lease Highlights

Brand new 2023 construction
Andy's Frozen Custard has 18+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 1.5% annual rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by Ranchers Custard Company (18 units)

Location Description

Andy’s Frozen Custard is strategically located on East 15th Street, with access to 23,400 vehicles passing by daily. The property benefits from direct access onto U.S. Highway 77 (54,100 VPD), Interstate 35 (76,200 VPD), and other major routes, making this a centralized location. Additionally, it is situated in a dense retail trade area, being in close proximity to Spring Creek Village, Edmond...

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Key Features

New construction
Dense retail corridor
Near major nationals
Strategically located
Top 100 MSA
Strong demographics
Long 15+ yr lease
Absolute NNN
Annual rent increases
Personal guarantee

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Links

Andy's Frozen Custard Wikipedia Andy's Frozen Custard Wikipedia Edmond, Oklahoma Zip Code 73013 Broker Site Page

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Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Andy's Frozen Custard
Guarantor:Franchisee
Company:Ranchers Custard Company
# Units:18
Stock:Private

About Tenant

Andy's Frozen Custard is the largest frozen custard-only chain in the United States. Andy's exclusively sells frozen custard treats in various flavors, from simple vanilla or chocolate...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	10,156	71,204	136,166
2023 Total Population :	9,927	69,521	132,752
2023 Employed Civilian Pop :	5,360	36,479	68,464
2023 Total Businesses :	763	4,150	6,267
2023 Average Household Income :	$ 104,140	$ 106,677	$ 122,055
2023 Total Consumer Spending :	$ 360 M	$ 2573 M	$ 5372 M
2023 Median Age :	36	35	36
2023 Total Households :	4,017	27,990	51,419
2023 Pop Age 25+: Bachelor's Degree :	2,201	14,918	29,684
2023 Average Home Value :	$ 279,490	$ 290,782	$ 326,170

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
E 15th St	Pine Oak Dr	2015	21,070	0.02 mi
Pine Oak Dr	E 15th St	2011	1,804	0.14 mi
Pine Oak Dr	E 15th St	2011	1,396	0.14 mi
S Bryant Ave	Devonshire Ct	2015	22,564	0.19 mi
S Bryant Ave	Rockwood Dr	2017	14,800	0.19 mi
	Mockingbird Ln	2021	19,200	0.29 mi
E 15th St	Hunters Ridge Rd	2016	17,648	0.31 mi
East 15th Street	Edgewood Dr	2021	17,200	0.36 mi
East 15th Street	Edgewood Dr	2019	17,200	0.36 mi
S Bryant Ave	Mockingbird Ln	2015	15,630	0.42 mi

Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
72593 Views
172 Sold

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
79777 Views
204 Sold

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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