Overview
NNN Lease Retail Investment Opportunity
This retail property features an Absolute NNN lease with 18 years remaining on the initial 20-year term. The lease includes attractive 7.50% rental escalations every 5 years, along with four 5-year options to renew. The tenant, Ram-Z Custard, LLC, is a multi-concept owner/operator with 42 Freddy’s restaurants (including those currently under construction), making it the 6th largest Freddy’s franchisee in the U.S., 34 Schlotzsky’s locations (the largest Schlotzsky’s franchisee in the country), and 7 Popeyes locations in Alabama, totaling 83 units. All units back the performance of the lease. The property is situated on a large approximately 2.0-acre lot, offering excellent visibility and access on US-69/George Nigh Expy, the main north/south thoroughfare in McAlester, with traffic counts of 23,767 CPD. It is a pad site to a Hobby Lobby Anchored Shopping Center, with key tenants such as T.J. Maxx, Ross, Ollie’s Bargain Outlet, Bealls & Five Below. Nearby retailers include Walmart, Lowe’s, Shoe Dept., Tractor Supply, Atwoods, Cato Fashions, Harbor Freight, True Value, Petsense, Pruett’s Food, Dollar Tree, Dollar General, Family Dollar, and Apex Cinema. Dining options in the vicinity include Starbucks, Chick-Fil-A, McDonald’s, Wendy’s, Sonic Drive-In, Taco Bell, Chili’s Grill & Bar, Pizza Hut, Little Caesars, Rib Crib, Subway, and Braum’s Ice Cream. There are 6 public schools in McAlester (1 Pre-K, 3 elementary, 1 middle and 1 high schools) serving 2,987 students. The property is located 3.5 miles from McAlester Regional Hospital, a 149-bed public trust health care facility, and less than 4 miles from Saint Francis Children’s Physicians Pediatrics, which provides comprehensive pediatric primary care for children with 162 beds. The building size is 3,520 square feet.
