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Freddy’s— 20-Year Absolute NNN Sale-Leaseback 2604 NE Bob Bullock Loop 3,000 SF Retail Building Laredo, TX 78045 $3,043,478 ($1,014.49/SF) 5.75% Cap Rate
Investment Highlights
- Brand-new 20-year absolute NNN lease offering passive ownership with zero landlord responsibilities.
- Corporate guaranty from Lone Star Custard, a successful 41-unit Freddy's franchise operator across Texas.
- 10% rent increases every five years provide built-in income growth throughout the lease term and renewal options.
- New 2023 construction on Laredo's premier Bob Bullock Loop 20 retail corridor near major national retailers.
- Located in America's busiest inland port, benefiting from strong population growth and a thriving logistics-driven economy.
Executive Summary
Investment Highlights
• New 20-Year Absolute NNN Lease
• Brand-new 2023 construction on a signalized hard corner of Bob Bullock Loop 20, Laredo's primary commercial loop
• Corporate Guaranty from a 41-unit Freddy's operator
• 10% rent increases every 5 years grow the yield from 5.75% to over 11% by the final option
Location Highlights
• Bob Bullock Loop 20 retail corridor (~29,781 VPD at the corner) near Mall del Norte (1.2M SF: Dillard's, Macy's, JCPenney, Cinemark), HEB Plus!, Walmart, and Target; co-developed alongside Sleep Number and a forthcoming Whataburger
• Laredo is the #1 inland port in the United States: $353.9B in two-way trade in 2025, with 6M+ trucks crossing annually via the World Trade Bridge, driving sustained logistics employment and population growth
• Strong, growing trade area: $91,460 1-mile median household income with +2.55% projected 3-mile annual population growth
• Texas A&M International University (7,000+ students) within the trade area
Tenant Highlights
• Lone Star Custard: 41-unit Freddy's franchisee operating across San Antonio, Austin, the Rio Grande Valley, and Houston
• Brand-new 20-year absolute NNN sale-leaseback with 10% increases every 5 years and (4) 5-year options
• Established brand: Freddy's boasts over 550 locations across 36 states
• New 20-Year Absolute NNN Lease
• Brand-new 2023 construction on a signalized hard corner of Bob Bullock Loop 20, Laredo's primary commercial loop
• Corporate Guaranty from a 41-unit Freddy's operator
• 10% rent increases every 5 years grow the yield from 5.75% to over 11% by the final option
Location Highlights
• Bob Bullock Loop 20 retail corridor (~29,781 VPD at the corner) near Mall del Norte (1.2M SF: Dillard's, Macy's, JCPenney, Cinemark), HEB Plus!, Walmart, and Target; co-developed alongside Sleep Number and a forthcoming Whataburger
• Laredo is the #1 inland port in the United States: $353.9B in two-way trade in 2025, with 6M+ trucks crossing annually via the World Trade Bridge, driving sustained logistics employment and population growth
• Strong, growing trade area: $91,460 1-mile median household income with +2.55% projected 3-mile annual population growth
• Texas A&M International University (7,000+ students) within the trade area
Tenant Highlights
• Lone Star Custard: 41-unit Freddy's franchisee operating across San Antonio, Austin, the Rio Grande Valley, and Houston
• Brand-new 20-year absolute NNN sale-leaseback with 10% increases every 5 years and (4) 5-year options
• Established brand: Freddy's boasts over 550 locations across 36 states
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Building Size
3,000 SF
Year Built
2023
Price
$3,043,478
Price Per SF
$1,014.49
Cap Rate
5.75%
NOI
$175,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.30 AC
Zoning
B-4
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
1 of 9
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Freddy’s— 20-Year Absolute NNN Sale-Leaseback | 2604 NE Bob Bullock Loop
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