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Freddy's | New 20yr Abs NNN w/ Incrs 910 S Main St 2,788 SF Retail Building Englewood, OH 45322 $3,972,788 CAD ($1,424.96 CAD/SF) 6.50% Cap Rate

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INVESTMENT HIGHLIGHTS

Brand New 20-Year Lease | Options To Extend | Scheduled Increases | Well Known & Established Brand | Experienced Operator
Retail Corridor | Northmont Plaza Shopping Center (1.3M+ Visits) |Near Interstate-70 (67,200 VPD) | Direct Consumer Base

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Strong Demographics In 5-Mile Trade Area

EXECUTIVE SUMMARY

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Freddy’s investment property located in Englewood, Ohio. The tenant, Ram-Z Restaurant Group, recently signed a new 20 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.
Ram-Z Restaurant Group is a leading second generation operator in the Midwest. The guarantor successfully operates 35+ Freddy’s and 35 Schlotzsky’s locations and is rapidly growing its prowess as it is currently the largest Schlotzsky’s operator and in the top five Freddy’s operators nationwide. Freddy’s Frozen Custard & Steakburgers is a leading fast-casual franchise concept with more than 500 locations across 36 states nationwide.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Fast Food

Building Size

2,788 SF

Building Class

Year Built

2024

Price

$3,972,788 CAD

Price Per SF

$1,424.96 CAD

Cap Rate

6.50%

NOI

$258,245 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.05

Lot Size

1.25 AC

Zoning

C-3 - Community Commercial District

Parking

31 Spaces (11.12 Spaces per 1,000 SF Leased)

Freeway Visibility

Restaurant

Signage

Drive Thru

Accommodation and Food Services
99,999 SF
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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.