Freddy's Frozen Custard & Steakburgers

3182 Maple Avenue, Zanesville, OH

$2,792,000

Price

6.35%

Cap Rate

$177,323

NOI

Overview
Cap Rate
6.35%
NOI
$177,323
Building Size
2,700 sqft
Lot Area
0.86 acres
Lease Type
Absolute Net
Year Built
2019
Tenancy
Single
Parking Spots
50
Description

Capital pacific is pleased to present the opportunity to acquire Freddy’s in Zanesville, Ohio (Columbus MSA). The property is a new construction drive-thru restaurant with a 15-year absolute NNN lease, featuring zero landlord maintenance or expense obligations. Additionally, the lease features 7.5% rent increases every 5 years and three 5-year options to extend the term thereafter.

Freddy’s Frozen Custard & Steakburgers is a national chain of casual restaurants with more than 300 locations across 32 states. The lease is secured by a corporate guaranty from the operating entity and a personal guaranty from the Freddy’s Franchisee, an established operator in the states of Ohio and Colorado.

The Property is located in a busy retail corridor of North Zanesville, along Maple Avenue and benefits from excellent street frontage and traffic of 28,000 VPD. The property is just 2 miles from Highway 70, a busy interstate route which sees nearly 48,000 VPD. The area is anchored by large national retailers including Walmart, Aldi, Cinemark, TJ Maxx, Planet Fitness, and more. The property’s prominent pylon signage further increases its visibility along this corridor.

In conjunction with OH Licensed Broker:
Tim Albro
Crest Commercial Realty
tim.albro@crestrealtyohio.com
937.222.1600 Ext. 104

Highlights
  • New 15-year absolute NNN lease - 7.5% rent increases every 5 years and 3 renewal options
  • 2019 construction freestanding pad with a drive-thru
  • Excellent location in the booming Columbus MSA
  • Lease secured by corporate and personal guarantees
  • Excellent street frontage in a busy retail node – surrounding retail includes Walmart, Aldi, and Colony Square Mall (Cinemark, TJ Maxx, and more)
Documents

Location
Gallery