1340 N Litchfield Rd
Goodyear, AZ 85395
Freddy's | New 15 Year Lease | Strong Sales · Retail Property For Sale

CBRE and the Net Lease Property Group in Phoenix have exclusively listed the Freddy’s Frozen Custard & Steakburgers for sale at 1340 North Litchfield Road in Goodyear, Arizona (The “Property”). The Property is located directly North off the heavily traveled Interstate 10 Freeway (I-10). The investment consists of a brand-new 15-year single-tenant absolute triple-net (NNN) lease with Freddy’s Frozen Custard & Steakburgers (dba JRI Management). The tenant, JRI Management is the largest Freddy’s franchisee with 59 locations in 10 states. 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 +2,971 rentable square feet on approximately 36,024 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. Freddy’s is a privately owned and family-oriented company, offering tasty menu items coupled with exceptional guest service. Please see page 8 in the offering memorandum for more details on the successful tenant, JRI Management. The Property benefits from a strategic location with convenient access and visibility from I-10 at the Litchfield Road Interchange. The location intersection boasts more than 50,680 vehicles per day (Source: Goodyearaz.gov) and has immediate access to the busy I-10 Freeway. The I-10 sees over 179,958 vehicles per day (Source: AZdot.gov). The average household income in a one-mile radius is approximately $97,535, with a projected $113,905 average household income in the next five years (Source: Esri). The restaurant is part of a very busy and successful power center, Palm Valley Pavilions West, with nearby national retailers such as Target, Michaels, Ross Dress for Less, Best Buy, Total Wine and More, Ulta Beauty, Barnes and Noble, among others. The Property is right down the street from Estrella Mountain Community College, which enrolls approximately 15,000 students annually and is master-planned to be a large comprehensive-learning college of more than 40,000 students (Source: Estrellamountain.edu). The Abrazo West Campus Medical Center is located across the street and has evolved into a thriving medical center serving the West Valley and beyond, equipped with ±188 licensed beds, ±1,027 employees, and ±579 affiliated Physicians (Source: Abrazohealth.com).