Freddy's Frozen Custard & Steakburgers

10201 Central Avenue Northeast, Albuquerque, NM 87123

$2,205,000

Cap Rate 6.35%

Views: 154 DOM: 374 Updated: 08.06.24 Posted: 12.13.23 Status: Active

Summary

Price $2,205,000	Built/Renov 2014	Tenant Freddy's Frozen Custard & Steakburgers
Cap Rate 6.35%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,264	Lease Start 12-17-2014	#Units 34
Price/SF $675.55	Expiration 12-16-2029	Tenant Type Fast Casual/Rest.
NOI $140,000	R. Term 4.12	Ownership Fee Simple
Rent/SF $42.89	Increases 10.0%/1/yrs	Pop 5Mi 224,802
Lot/AC 1.19	Options 3/5yrs/10%	AHHI 5Mi $81,948

Lease Highlights

Freddy’s Frozen Custard & Steakburgers has 5+ years remaining on the current lease term with 3 (5-year) options
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by ERC Hospitality (34 units backed)

Location Description

Freddy's Frozen Custard & Steakburgers is strategically located on Central Avenue NE, with access to 28,600 vehicles passing by daily. Its advantageous placement is further enhanced by its convenient position jjust off the major signalized, hard corner intersection of Central Avenue NE and Eubank Boulevard, with a combined daily traffic count of 57,000 vehicles. Additionally, the property is...

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Key Features

Build to suit
Dense retail corridor
Near major nationals
Strategically located
Freeway close
Top 100 MSA
Strong demographics
Absolute NNN
Personal guarantee
25+ unit franchisee backed

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Links

Freddy's Frozen Custard & Steakburgers Wikipedia Freddy's Frozen Custard & Steakburgers Wikipedia Albuquerque, New Mexico Zip Code 87123 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Freddy's Frozen Custard & Steakburgers
Guarantor:Franchisee
Company:ERC Hospitality
# Units:34
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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	14,994	119,074	219,483
2023 Total Population :	15,227	120,517	223,948
2023 Employed Civilian Pop :	6,834	53,027	105,456
2023 Total Businesses :	492	3,794	8,521
2023 Average Household Income :	$ 74,916	$ 75,481	$ 86,730
2023 Total Consumer Spending :	$ 403 M	$ 3474 M	$ 7647 M
2023 Median Age :	35	38	40
2023 Total Households :	6,142	52,796	101,622
2023 Pop Age 25+: Bachelor's Degree :	1,649	14,567	34,012
2023 Average Home Value :	$ 220,978	$ 257,065	$ 293,933

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Central Ave	Conchas St SE	2017	28,600	0.06 mi
Central Avenue Northeast		2018	27,472	0.09 mi
Eubank Boulevard Northeast		2018	29,179	0.12 mi
Eubank Boulevard Northeast	Buena Ventura Rd NE	2022	33,871	0.15 mi
Eubank Boulevard Northeast	Buena Ventura Rd NE	2018	2,092	0.15 mi
Central Avenue Southeast	Parsifal St NE	2022	25,568	0.15 mi
Eubank Boulevard Southeast	Cochiti Rd SE	2022	29,636	0.17 mi
Central Avenue Northeast		2018	27,378	0.21 mi
Eubank Boulevard Southeast		2018	30,365	0.21 mi
Eubank Boulevard Southeast	Bell Ave SE	2018	9,690	0.26 mi

Listing Broker

Brandon Wright

The Boulder Group (Denver)

Contact

16 Listings
1836 Views
8 Sold

Zach Wright

The Boulder Group (Denver)

Contact

17 Listings
1993 Views
8 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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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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