Single-Tenant Drive-Thru Restaurant
For Sale
Contact for pricing
1007 University Blvd, Suffolk, VA 23435
Four Freddy’s drive-thru restaurants offered individually or as a portfolio on absolute triple-net sale-leaseback terms.
Property SizeContact for details
Days on Market121
Property Features for 1007 University Blvd
General Information
Standard status
Active
Property subtype
Retail
Building Details
Tenancy
Single
Listing Agency:
SURMOUNT
Listed By:
Kyle Gulock · License #CA 01861385
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 22 at 2:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SURMOUNT
Investment Insights
Based on property information with market context.
The portfolio includes four single-tenant, absolute triple net Freddy’s Frozen Custard and Steakburgers drive-thru restaurants (“Freddy’s”), available for sale individually or collectively as a portfolio. The offering is structured as a sale-leaseback with absolute triple net leases featuring a 20-year base term and scheduled 7.5% rent increases every five years. Lease obligations are guaranteed by Wildcat Steakburgers, LLC.
HCI Hospitality (“HCI”) is the 34-unit (soon to be 41) Freddy’s franchisee and operator of the portfolio and has operated since 2010. The operator is headquartered in Kansas and is expanding its Freddy’s footprint, with additional new locations planned across multiple states. One property in the portfolio is listed at 1007 University Blvd, Suffolk, VA.
HCI Hospitality (“HCI”) is the 34-unit (soon to be 41) Freddy’s franchisee and operator of the portfolio and has operated since 2010. The operator is headquartered in Kansas and is expanding its Freddy’s footprint, with additional new locations planned across multiple states. One property in the portfolio is listed at 1007 University Blvd, Suffolk, VA.
Key Highlights
- Portfolio of four (4) single‑tenant Freddy’s drive‑thru restaurants offered individually or as a package
- Offered on an absolute triple‑net sale‑leaseback with 20 years of base term
- Rent increases scheduled at 7.5% every 5 years under the leases
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
535k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Shops & Services 26%
Apparel 18%
Groceries 18%
Kroger
Groceries
74,591 visits/mo
0.2 miles
Kohl's
Apparel
51,352 visits/mo
0.5 miles
Ross Dress for Less
Apparel
31,647 visits/mo
0.2 miles
Texas Roadhouse
Dining
31,549 visits/mo
0.2 miles
Michaels
Shops & Services
30,551 visits/mo
0.2 miles
Demographics for 23435, VA
32,597
Population
13,386
Households
2.4
Avg Household Size
38
Median Age
42%
College-Educated
95%
High-School Grad
35.7 sq mi
ZIP Area
913
Density / Sq Mi
$107,833
Median Household Income
$52,814
Median Earnings
$1,838
Median Rent
$374,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Four Freddy’s drive-thru restaurants offered individually or as a portfolio on absolute triple-net sale-leaseback terms.
Where is this drive through restaurant located?
The property is located at 1007 University Blvd Suffolk, VA.
What are key features of this property?
This property features: Portfolio of four (4) single‑tenant Freddy’s drive‑thru restaurants offered individually or as a package; Offered on an absolute triple‑net sale‑leaseback with 20 years of base term; Rent increases scheduled at 7.5% every 5 years under the leases
