Overview
Freddy's Absolute NNN Lease
This property features a Freddy’s restaurant with a brand new 20-year absolute NNN lease, including attractive 7.50% rental escalations every 5 years and four 5-year options to renew. The tenant, Freddy’s restaurants, is the 6th largest Freddy’s franchisee in the U.S. The tenant also operates 35 Schlotzsky’s locations, making it the largest Schlotzsky’s franchisee in the country, including those currently under construction. The asset is well-positioned on a pad site within a newly constructed retail center anchored by Hobby Lobby, Ross, and T.J. Maxx. Situated on a large approximately 2.0-acre lot, the property offers excellent visibility and access on US-69/George Nigh Expy, the main north/south thoroughfare in McAlester, with traffic counts of 23,767 CPD. The shopping center includes key tenants such as Ollie’s Bargain Outlet, Bealls, and 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 six public schools in McAlester, including one Pre-K, three elementary, one middle, and one high school, serving 2,987 students. The property is located 3.5 miles from McAlester Regional Hospital, a 149-bed public trust health care facility serving Pittsburg County and surrounding areas, and less than 4 miles from Saint Francis Children’s Physicians Pediatrics, which provides comprehensive pediatric primary care for children with 162 beds. The property size is 3,520 square feet.
