Overview
Freddy's NNN Lease Investment Opportunity
This property features a Freddy’s Frozen Custard operating under a brand new 20-year absolute NNN lease. 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 an experienced 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., and 34 Schlotzsky’s locations, the largest Schlotzsky’s franchisee in the country and 7 Popeyes locations in Alabama (83 TOTAL UNIT GUARANTY). All units back the performance of the lease. The property is positioned on a large approximately 1.0-acre lot, offering great access and visibility on Ohio Pike, a main north/south thoroughfare in Amelia, with traffic counts of 29,573 CPD. Retailers within 5 miles include Walmart, Target, Lowe’s, Home Depot, T.J. Maxx, Burlington, Gabe’s, Dick’s Sporting Goods, Sportsman’s Warehouse, Rally House, DSW, Shoe Carnival, Big Lots, HomeGoods, Best Buy, Michaels, Five Below, Popshelf, Staples, Half Price Brooks, Ulta Beauty, Sally Beauty, Ace Hardware, Harbor Freight Tools, PetSmart, Petco, ALDI, Kroger, Grocery Outlet, Family Dollar, Dollar Tree, Walgreens, and CVS. The property is located 4 miles from the University of Cincinnati Clermont, a public university serving 3,091 students (Fall 2024); 13 miles from Northern Kentucky University with 14,985 students; 6 miles from Mercy Health - Anderson, a 286-acute care bed, full-service hospital with 36 emergency department beds, 20 ICU beds, 30 obstetric beds & is classified as a Level 2 NICU; and 9 miles from Mercy Health - Clermont, a 177-bed hospital specializing in 24-hour emergency care, cardiology, oncology, pulmonary, & sports medicine services. The building size is 3,644 square feet.
