Overview
Streetsboro Freddy's NNN Investment Opportunity
This property features a Freddy’s restaurant operating under a brand new 20-year absolute NNN lease, which includes attractive 7.50% rental escalations every 5 years and four 5-year options to renew. The tenant, Ram-Z Custard, LLC, operates 69 locations, including 34 Freddy’s restaurants (making it the 6th largest Freddy’s franchisee in the U.S.) and 35 Schlotzsky’s locations (the largest Schlotzsky’s franchisee in the country, including those currently under construction). The restaurant is positioned on a large ±1.72-acre lot and includes an impressive 10-car stack drive-thru. The asset is a pad site to a shopping center anchored by Target, Lowe’s, and Giant Eagle, offering excellent visibility and access on OH-303/OH-14/Cleveland-E Liverpool Rd, just west of OH-43/Cleveland Canton Rd, with traffic counts of 58,609 CPD. Nearby retailers include Walmart, Home Depot, Family Farm & Home, Staples, Harbor Freight Tools, Pet Supplies Plus, ALDI, Dollar General, Goodwill, AutoZone, NTB, Mattress Firm, Sherwin Williams, Powerhouse Gym, and Planet Fitness. The property is located 8 miles from Kent State University (with 26,106 students), 20 miles from the University of Akron (with 14,995 students), 19 miles from Cleveland Clinic Akron General (a 532-bed teaching hospital), and 5 miles from Aurora Farms Premium Outlets, which features over 50 designer and name-brand outlet stores.
