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FREDDY'S - STREETSBORO, OH 1240 OH-303 3,170 SF Retail Building Streetsboro, OH 44241 $2,440,000 ($769.72/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- LONG -TERM LEASE - 19 years remaining on Absolute NNN lease with attractive 7.50% rental escalations every 5 years with four 5-year options to renew
- Positioned on a large ±1.72-acre lot with an impressive 10-car stack drive-thru
- Traffic counts of 58,609 CPD!
- Ram-Z Custard, LLC owns & operates 74 locations, which include 39 Freddy’s restaurants, making it the 6th largest Freddy’s franchisee in US
- HIGH TRAFFIC COUNTS/VISIBILITY - Pad site to a Target, Lowe’s & Giant Eagle Anchored Shopping Center with excellent visibility/access
- 2024 VERY AFFLUENT DEMOGRAPHICS: Population: 47,603 & Average Household Income: $158,928
EXECUTIVE SUMMARY
In Association with Designated Broker:
Brian Brockman – Broker
License #: BRK.2009000214
Bang Realty, Inc
bor@bangrealty.com
513-898-1551
PROPERTY FACTS
AMENITIES
- Restaurant
- Signage
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
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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.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
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NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 35-055-00-00-039-011 | Improvements Assessment | $263,130 |
| Land Assessment | $222,390 | Total Assessment | $485,520 |
PROPERTY TAXES
Presented by
FREDDY'S - STREETSBORO, OH | 1240 OH-303
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