5225 S Coulter St
Amarillo, TX 79119
Freddy's Steakburgers | 16 Year Absolute NNN · Retail Property For Sale

CBRE and the National Net Lease Property Group have exclusively listed this single-tenant Freddy’s Frozen Custard & Steakburgers at 5225 South Coulter Street in Amarillo, Texas (The “Property”) for sale. The investment consists of a 20-year single-tenant absolute triple-net (NNN) lease with ±16 years remaining. The lease includes attractive 10% rental increases every five years. The Property is made up of ±3,780 rentable square feet on approximately 37,187 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 coupled with exceptional guest service and industry-leading cleanliness standards are why their guests make return visits. The Property is located in Amarillo, Texas, the largest city on the ±178-mile portion of historic Route 66 between Oklahoma and Texas. Located approximately 30 minutes from Amarillo is Palo Duro Canyon, the second-largest canyon in the United States. In 2018, the state park had ±185,268 non-local visitors and provided a total economic impact of over $10 million (Source: The Economic Contributions of State Parks, 2018). Amarillo, Texas has recently seen strong economic growth and development, largely due to the addition of Harrington Academic Hall, West Texas A&M’s new permanent campus in the heart of the town. Center City, a nonprofit organization working to restore Amarillo’s historic downtown, has facilitated more than $55 million of private and public investment into development this year. According to Beth Duke, the executive director of Center City, the demand for affordable housing exceeds its supply due to the increasing student population as well as the working population who want to live closer to work. As a result of the increasing residential development, retail and recreational development are also gaining traction.