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Freddy's Steakburger - Snellville, GA 1770 Scenic Hwy N 3,332 SF Retail Building Snellville, GA 30078 $3,955,807 CAD ($1,187.22 CAD/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 8+ years remain on this franchisee signed lease with 3 (5-year) options to extend
- Founded in 2011, JRI Hospitality owns and operates over 80 restaurants in 15 states, including Freddy’s Frozen Custard & Steakburgers and more
- Surrounding national/credit tenants such as Chipotle, Outback, Zaxby’s, McDonald’s, as well as several big box retailers such as Target, Best Buy, R
- 10% rental increases every 5 years including option periods
- Located at the signalized, hard corner intersection of Scenic Hwy N and Tree Ln (57,400 VPD)
- Directly next to Presidential Commons, a 375,000+ SF Kroger and The Home Depot anchored shopping center
EXECUTIVE SUMMARY
• 8+ years remain on this franchisee signed lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation
• Founded in 2011, JRI Hospitality owns and operates over 80 restaurants in 15 states, including Freddy’s Frozen Custard & Steakburgers, Mokas Cafe, The Original Grande, and Chompie’s Restaurants. They are the largest Freddy’s franchisee
• Freddy’s Frozen Custard & Steakburgers is a leading fast-casual franchise concept with more than 440 locations across 36 states nationwide
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• Investor benefits from leased fee interest (land ownership)
• No landlord responsibilities
• Ideal, management-free investment for a passive investor
• Freddy’s located at the signalized, hard corner intersection of Scenic Highway North and Tree Lane averaging 57,400 vehicles passing by daily
• Scenic Highway is a dense, primary retail corridor serving the city of Snellville with several national/credit tenants such as Chipotle, Outback, Zaxby’s, McDonald’s, and more
• The asset is directly next to Presidential Commons, a 375,000+ SF Kroger and The Home Depot anchored shopping center
• The immediate trade area is supported by several big box retailers such as Target, Best Buy, Ross, Lowe’s, Walmart Supercenter, and more
• Strong tenant synergy promotes crossover store exposure to the site
• More than 195,000 residents and 43,000 employees support the trade area
• Residents within a 1-mile radius boast an affluent average household income of over $130,000
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation
• Founded in 2011, JRI Hospitality owns and operates over 80 restaurants in 15 states, including Freddy’s Frozen Custard & Steakburgers, Mokas Cafe, The Original Grande, and Chompie’s Restaurants. They are the largest Freddy’s franchisee
• Freddy’s Frozen Custard & Steakburgers is a leading fast-casual franchise concept with more than 440 locations across 36 states nationwide
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• Investor benefits from leased fee interest (land ownership)
• No landlord responsibilities
• Ideal, management-free investment for a passive investor
• Freddy’s located at the signalized, hard corner intersection of Scenic Highway North and Tree Lane averaging 57,400 vehicles passing by daily
• Scenic Highway is a dense, primary retail corridor serving the city of Snellville with several national/credit tenants such as Chipotle, Outback, Zaxby’s, McDonald’s, and more
• The asset is directly next to Presidential Commons, a 375,000+ SF Kroger and The Home Depot anchored shopping center
• The immediate trade area is supported by several big box retailers such as Target, Best Buy, Ross, Lowe’s, Walmart Supercenter, and more
• Strong tenant synergy promotes crossover store exposure to the site
• More than 195,000 residents and 43,000 employees support the trade area
• Residents within a 1-mile radius boast an affluent average household income of over $130,000
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,332 SF
Building Class
B
Year Built
2016
Price
$3,955,807 CAD
Price Per SF
$1,187.22 CAD
Cap Rate
5.75%
NOI
$227,273 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.35 AC
Zoning
BG - Business General
Parking
49 Spaces (14.71 Spaces per 1,000 SF Leased)
Frontage
160’ on Scenic Highway
AMENITIES
- 24 Hour Access
- Signage
- Air Conditioning
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Accommodation and Food Services
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Freddy grew up on a farm near Colwich, Kansas, just outside of Wichita. After finishing high school, Freddy enlisted in the U.S. Army, serving in the Pacific Rim region during World War II. A self-proclaimed “regular guy”, he was awarded the Purple Heart for injuries sustained during service, as well as a Bronze Star for valor. Freddy then returned to Kansas, started a family, worked hard in the hospitality industry for 56 years, and raised six children with his wife, Norma Jean. Freddy's family values and patriotic service to his country is the foundation of Freddy's Frozen Custard and Steakburgers®, and these values have inspired them to do everything The Freddy's Way.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Accommodation and Food Services | - | $9.99 | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 5-056-367 | Improvements Assessment | $1,249,759 CAD |
| Land Assessment | $204,269 CAD | Total Assessment | $1,454,028 CAD |
PROPERTY TAXES
Parcel Number
5-056-367
Land Assessment
$204,269 CAD
Improvements Assessment
$1,249,759 CAD
Total Assessment
$1,454,028 CAD
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Freddy's Steakburger - Snellville, GA | 1770 Scenic Hwy N
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