Freddy's Frozen Custard & Steakburgers

1050 Ogden Avenue, Montgomery, IL 60538

$2,795,000

Cap Rate 6.26%

$2,917,000

Cap Rate 6.00%

Updated: 03.14.24 Posted: 01.18.24 Status: Sold

Summary

Price $2,795,000 $2,917,000	Built/Renov 2023	Tenant Freddy's Frozen Custard & Steakburgers
Cap Rate 6.26% 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,150	Lease Start 06-01-2024	#Units 40
Price/SF $887.30 $926.03	Expiration 05-31-2044	Tenant Type Fast Casual/Rest.
NOI $175,000	R. Term 19.0	Ownership Fee Simple
Rent/SF $55.56	Increases 10.0%/5/yrs	Pop 5Mi 233,145
Lot/AC 1.45	Options 4/5yrs/10%	AHHI 5Mi $125,835

Highlights

Freddy’s Frozen Custard & Steakburgers will be signing a brand new 20-year lease with 4 (5-year) options at the close of escrow
Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option period
Absolute NNN | Zero landlord responsibilities
Strong, experienced operator/guarantor | M&M Custard, LLC

Location Description

Freddy's Frozen Custard & Steakburgers is strategically located at the signalized, hard corner intersection of Ogden Ave (U.S. Route 34) and U.S. Route 30, which has a combined daily traffic count of 45,500 vehicles. The property serves as an outparcel to the prominent Sam’s Club-JCPenney-Menards anchored shopping center known as Ogden Hill of Montgomery. Additionally, it benefits from the...

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Key Features

New construction
Signalized intersection
Near major nationals
Shopping Ctr out-parcel
Top 100 MSA
Strong demographics
Brand new lease
Long 20+ yr lease
Absolute NNN
Personal guarantee

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Links

Freddy's Frozen Custard & Steakburgers Wikipedia Freddy's Frozen Custard & Steakburgers Wikipedia Montgomery, Illinois Zip Code 60538 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:40
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 :	8,133	103,543	232,085
2023 Total Population :	7,396	104,569	232,872
2023 Employed Civilian Pop :	4,250	53,038	119,400
2023 Total Businesses :	176	1,684	5,492
2023 Average Household Income :	$ 100,994	$ 102,656	$ 121,832
2023 Total Consumer Spending :	$ 243 M	$ 2991 M	$ 8118 M
2023 Median Age :	34	33	34
2023 Total Households :	2,784	33,773	77,795
2023 Pop Age 25+: Bachelor's Degree :	1,029	13,113	35,466
2023 Average Home Value :	$ 254,284	$ 244,055	$ 303,266

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
US Hwy 30	Goodwin Dr	2013	19,300	0.20 mi
Oswego Rd	Ogden Falls Blvd	2013	29,500	0.35 mi
Hill Ave	Goodwin Dr	2018	17,800	0.39 mi
		2019	26,600	0.41 mi
US 34		2021	28,700	0.57 mi
Hill Avenue	Montgomery Rd	2019	14,200	0.66 mi
US Hwy 30	Proclamation Dr	2013	21,100	0.70 mi
Farnsworth Rd	Summerfield Dr	2010	4,300	0.73 mi
Ogden Ave	Farnsworth Ave	2013	35,100	0.80 mi
Oswego Rd	Kendall Point Dr	2013	29,500	0.82 mi

Listing Broker

Eric Carlton

Colliers NNN Group

Contact

180 Listings
41764 Views
69 Sold

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
38678 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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