Freddy's Frozen Custard & Steakburgers

1104 Pamplico Highway, Florence, SC 29505

$2,205,000

Cap Rate 6.35%

Views: 4 Updated: 09.19.24 Posted: 09.19.24 Status: Active

Summary

Price $2,205,000	Built/Renov 2021	Tenant Freddy's Frozen Custard & Steakburgers
Cap Rate 6.35%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,700	Lease Start 12-01-2024	#Units 7
Price/SF $816.67	Expiration 11-30-2044	Tenant Type Fast Casual/Rest.
NOI $140,000	R. Term 20.2	Ownership Fee Simple
Rent/SF $51.85	Increases 2.0%/1/yrs	Pop 5Mi 64,438
Lot/AC 0.98	Options 4/5yrs/2%	AHHI 5Mi $75,849

Lease Highlights

Brand new 20-year lease with 4 (5-year) options to extend at the close of escrow
The lease features 2% annual rental increases throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Guarantor is an experienced Freddy’s franchisee with 7 existing locations and additional new stores planned

Location Description

Freddy's Frozen Custard & Steakburgers is strategically located at the signalized, hard corner intersection of Pamplico Highway and South Pine Forest, directly across from MUSC Florence Medical Center, a leading regional medical facility. The property is surrounded by prominent national tenants including Lowe’s, Walmart Supercenter, Food Lion, ALDI, Chick-fil-A, and more. The 5-mile trade area...

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Key Features

Signalized intersection
Dense retail corridor
Near major nationals
Highway location
Hospital close
Brand new lease
Long 20+ yr lease
Absolute NNN
Annual rent increases
Personal guarantee

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Links

Freddy's Frozen Custard & Steakburgers Wikipedia Freddy's Frozen Custard & Steakburgers Wikipedia Florence, South Carolina Zip Code 29505 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Freddy's Frozen Custard
Guarantor:Franchisee
Company:316 Restaurant Group
# Units:7
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...

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Listing Broker

Zach Wright

The Boulder Group (Denver)

Contact

15 Listings
1211 Views
5 Sold

Brian Brockman

Bang Realty, Inc

Contact

15 Listings
162 Views
0 Sold

Zach Wright

Zach Wright is a Vice President and Head of the Denver office of The Boulder Group. Zach specializes on the sale of net leased investment properties located nationally, with a focus on the Rocky Mountain and Midwest states. The key to Zach’s success is his work ethic and drive to constantly improve ways in which he can create value for his clients. Through a vast network built upon strong relationships and a honest reputation, Zach is able to successfully assist clients with the acquisition and

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Brian Brockman

Brian is one of only a handful of real estate brokers who is licensed in all 50 states and the District of Columbia. Brian is also one of a few auctioneers licensed throughout the country and has sold real estate via online auctions across the United States. Now, Brian is using his national real estate experience to help facilitate transactions for other commercial real estate brokers across the county. Brian has over 15 years in asset management experience and has sold properties for investo

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Brandon Wright

The Boulder Group (Denver)

Contact

14 Listings
1097 Views
5 Sold

Brandon Wright

Brandon Wright is a Listing Broker/Agent, Landlord Broker/Agent with The Boulder Group - Denver. Brandon has transacted 464K square feet with a value around 79M. Currently, Brandon has 8 listings available in Casey, Brownstown, Broomfield, Brighton, and Aurora.

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