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Freddy's Frozen Custard & Steakburgers (GL)
760 Winfield Dunn Parkway, Sevierville, TN 37876
$1,990,000
Cap Rate 5.24%
Summary
| Price $1,990,000 | Built/Renov 2023 | Tenant Freddy's Frozen Custard & Steakburgers (GL) |
| Cap Rate 5.24% | Lease Type
Abs NNN | Guarantor Franchisee |
| Size/SF
3,240
| Lease Start
05-01-2023
| #Units
1
|
| Price/SF $614.20 | Expiration
04-30-2038
| Tenant Type Fast Casual/Rest. |
| NOI $104,288 | R. Term 14.4 | Ownership Ground Lease |
| Rent/SF
$32.19
| Increases 11.5%/5/yrs | Pop 5Mi 30,918 |
| Lot/AC 1.17 | Options 6/5yrs/10.3% | AHHI 5Mi $77,237 |
| | |
Lease Highlights
- Brand-new construction
- The tenant, Freddy’s, recently signed a new 15-year lease with 6 (5-year) options to extend
- The lease features scheduled rental increases during the initial term and at the beginning of each option
- Absolute NNN ground lease | Zero landlord responsibilities
- Personal guarantee by the Franchisee
Location Description
Freddy's Frozen Custard & Steakburgers, equipped with a drive-thru lane, is strategically positioned fronting Winfield Dunn Parkway (62,000 VPD), a primary retail thoroughfare serving the city of Sevierville. The property is an outparcel to Smoky Mountain Gateway, a Publix, HomeGoods, and Five Below anchored shopping center. The neighboring property to the North is currently under development...
...Features
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New construction
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High traffic 50M+ VPD
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Dense retail corridor
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Shopping Ctr out-parcel
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Highway location
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Top 100 MSA
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Income tax free state
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Brand new lease
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Long 15+ yr lease
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Personal guarantee
...
Maps
Tenant
- Tenant: Freddy's Frozen Custard & Steakburgers (GL)
- Guarantor:Franchisee
- Company:Franchisee
- # Units:1
- 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...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 2,393 | 14,600 | 31,798 |
| 2023 Total Population : | 2,328 | 14,185 | 30,930 |
| 2023 Employed Civilian Pop : | 1,285 | 6,605 | 14,933 |
| 2023 Total Businesses : | 159 | 1,013 | 1,727 |
| 2023 Average Household Income : | $ 82,607 | $ 72,970 | $ 77,172 |
| 2023 Total Consumer Spending : | $ 83 M | $ 380 M | $ 851 M |
| 2023 Median Age : | 41 | 40 | 41 |
| 2023 Total Households : | 1,155 | 5,939 | 12,630 |
| 2023 Pop Age 25+: Bachelor's Degree : | 620 | 1,817 | 3,389 |
| 2023 Average Home Value : | $ 279,062 | $ 305,606 | $ 317,014 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Winfield Dunn Pkwy | Hwy 66 | 2003 | 29,400 | 0.35 mi |
| Old Douglas Dam Road | Old Douglas Dam Rd | 2022 | 1,711 | 0.37 mi |
| Winfield Dunn Pkwy | Hwy 66 | 2005 | 29,560 | 0.37 mi |
| OLD KNOXVILLE HWY. | Spring St | 2021 | 8,934 | 0.51 mi |
| Old Knoxville Highway | Spring St | 2022 | 8,225 | 0.51 mi |
| Winfield Dunn Parkway | Winfield Dunn Pkwy | 2022 | 55,826 | 0.59 mi |
| ALLENSVILLE RD. | Old Douglas Dam Rd | 2021 | 6,502 | 0.68 mi |
| Allensville Road | Old Douglas Dam Rd | 2022 | 5,991 | 0.68 mi |
| Love Road | U St | 2022 | 1,899 | 0.87 mi |
| US 411;US 441 | Lathem Ln | 2021 | 15,031 | 0.98 mi |
