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DOM: 156 Updated: 10.20.23 Posted: 02.15.23 Status: Sold 07.21.23

Summary

Price $2,600,000
Built/Renov 2023
Tenant Freddy's Frozen Custard & Steakburgers (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,500
Lease Start 03-01-2023
#Units 21
Price/SF $45.91
Expiration 02-28-2038
Tenant Type Fast Casual/Rest.
NOI $130,000
R. Term 12.9
Ownership Ground Lease
Rent/SF $2.30
Increases 10.0%/5/yrs
Pop 5Mi 87,894
Lot/AC 1.30
Options 4/5yrs/10%
AHHI 5Mi $99,540

Highlights

  • Brand-new 2023 construction 
  • Lone Star Custard #23 LLC has 15 years remaining on its current lease with 4 (5-year) options to extend
  • Lease features 10% rental increases throughout the initial lease term and at each option
  • Absolute NNN ground lease presents zero landlord responsibilities

Location Description

Freddy’s is located near the signalized, hard corner intersection of International Blvd and Bob Bullock Loop, serving a combined 67,000 vehicles per day. Located in a dense retail corridor, Freddy’s is within proximity to multiple national/credit tenants including Walmart Supercenter, Hobby Lobby, Ross, TJ Maxx, and more. Furthermore, the asset is ideally positioned within walking distance...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 11,149 45,837 93,528
2023 Total Population : 10,978 45,167 92,066
2023 Employed Civilian Pop : 5,388 22,063 44,118
2023 Total Businesses : 355 1,577 4,013
2023 Average Household Income : $ 124,936 $ 120,036 $ 105,361
2023 Total Consumer Spending : $ 342 M $ 1453 M $ 2587 M
2023 Median Age : 31 33 33
2023 Total Households : 3,166 14,192 28,761
2023 Pop Age 25+: Bachelor's Degree : 2,426 9,188 16,201
2023 Average Home Value : $ 247,336 $ 271,210 $ 258,535
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
International Boulevard Bob Bullock Loop 2020 18,325 0.15 mi
Bob Bullock Loop 2019 19,736 0.27 mi
Anejo Dr 2021 8,135 0.30 mi
Bob Bullock Loop Grand Central Blvd 2021 8,557 0.30 mi
Monarch Dr 2021 9,520 0.47 mi
Bob Bullock Loop McPherson Rd 2020 21,000 0.55 mi
McPherson Road Crossroads St 2021 13,635 0.68 mi
Backwoods Trail Imperial Dr 2021 1,306 0.69 mi
McPherson Road Monarch Dr 2020 14,952 0.69 mi
Imperial Dr Peruviana Ct 2002 8,700 0.73 mi

Listing Broker

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