Freddy's Frozen Custard & Steakburgers

1955 N Hwy 67, Florissant, St. Louis, MO 63033

$2,683,000

Cap Rate 6.15%

$2,683,000

Cap Rate 6.15%

DOM: 248 Updated: 11.20.23 Posted: 02.20.23 Status: Sold 10.27.23

Summary

Price $2,683,000 $2,683,000	Built/Renov 2002	Tenant Freddy's Frozen Custard & Steakburgers
Cap Rate 6.15% 6.15%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 4,009	Lease Start 06-01-2023	#Units 38
Price/SF $669.24 $669.24	Expiration 05-31-2038	Tenant Type Fast Casual/Rest.
NOI $165,000	R. Term 13.0	Ownership Fee Simple
Rent/SF $41.16	Increases 10.0%/5/yrs	Pop 5Mi 174,122
Lot/AC 0.73	Options 4/5yrs/10%	AHHI 5Mi $80,794

Highlights

Freddy’s has committed to signing a brand-new 15 year lease upon sale with 4 (5-year) options to extend
Lease will feature 10% rental increases every 5 years throughout initial term and at the beginning of each option period
Absolute NNN presents zero landlord responsibilities
Strong personal guarantee by M&M Custard, LLC (38 locations with 3 more coming in 2023)

Location Description

The property is exceptionally located at the busy signalized intersection of Highway 67 (27,893 VPD) and N New Florissant Road and is close to I-270, benefiting from its position on a premier retail corridor. The site is positioned as an outparcel in a local shopping center on a hard corner, and is in close proximity to the regional power centers Target Plaza and Shoppes at Cross Keys which...

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Key Features

Signalized intersection
Shopping Ctr out-parcel
Strategically located
Highway location
Top 100 MSA
Strong demographics
Brand new lease
Long 15+ yr lease
Absolute NNN
25+ unit franchisee backed

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Links

Freddy's Frozen Custard & Steakburgers Wikipedia Freddy's Frozen Custard & Steakburgers Wikipedia St Louis, Missouri Zip Code 63033 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Freddy's Frozen Custard & Steakburgers
Guarantor:Franchisee
Company:M&M Custard LLC.
# Units:38
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...

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Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
North New Florissant Road	Hwy 67	2016	5,370	0.05 mi
North New Florissant Road	N US Hwy 67	2016	16,590	0.10 mi
N New Florissant Rd	Foxrun Dr	2006	14,860	0.11 mi
Thunderbird Ave	Martin Dr	2013	5,146	0.12 mi
N US Hwy 67	Florval Dr	2019	28,231	0.21 mi
N Waterford Dr	Turf Ln	2013	6,288	0.34 mi
Parker Road	N New Florissant Rd	2016	6,840	0.37 mi
US Hwy 67	N Jefferson St	2013	27,893	0.41 mi
Parker Rd	Burning Tree Dr	2011	7,900	0.46 mi
N New Florissant Rd	St Joseph St	2013	13,344	0.48 mi

Listing Broker

Eric Carlton

Colliers NNN Group

Contact

180 Listings
41767 Views
69 Sold

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
38681 Views
64 Sold

Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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