1314 S Broadway St
Pittsburg, KS 66762
Freddy's Pittsburg | 6.25% Cap | 15 Yr NNN · Retail Property For Sale

CBRE and the Net Lease Property Group in Phoenix have exclusively listed the Freddy’s Frozen Custard & Steakburgers at 1314 South Broadway Street in Pittsburg, Kansas (The “Property”) for sale. The Property is strategically positioned on the western side of US Route 69, just south of downtown Pittsburg. The investment consists of a brand-new 15-year single-tenant absolute triple-net (NNN) lease with Freddy’s Frozen Custard & Steakburgers (dba JRI Restaurant Holdings, LLC). The lease includes attractive 10% rental increases every five years in the initial term and throughout the four (4), five (5) year options. The Property is made up of ±2,970 rentable square feet on approximately 22,312 square feet of land. Freddy’s Frozen Custard & Steakburgers is a fast-casual restaurant franchise, known for premium, lean, ground beef steakburgers and dessert treats, prepared with freshly-churned chocolate or vanilla frozen custard. A privately owned and family-oriented company, their tasty menu items coupled with exceptional guest service and industry-leading cleanliness standards are why their guests make return visits. Please see page 8 in the offering memorandum for more details on the successful tenant JRI Management. The Property benefits from a great location just around the corner from Pittsburg State University, approximately 1-mile south of downtown Pittsburg. Pittsburg State is a fully accredited state university with more than 200 academic programs and approximately 7,000 students (Source: Pittstate.edu). Pittsburg is a family oriented community that is committed to their city. They have invested more than $52M in the last decade to revitalize their downtown, largely with funds from private investors (Source: pittks.org). A public-private partnership with the city, PSU, and a private developer resulted in Block22; an innovative, mix-use, living-learning community in downtown Pittsburg. Block22 transforms four historic buildings at 4th and Broadway into an entrepreneurial epicenter; minutes from the Property (Source: block22psu.com).