Overview
NNN Leased Freddy's Restaurant
This commercial property is a Freddy’s restaurant with 19 years remaining on an absolute NNN lease. The lease includes 7.50% rental escalations every 5 years and 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., 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 positioned on a large approximately 1.071-acre lot with access and visibility on Winton Rd, a main north/south thoroughfare in Cincinnati, with traffic counts of 21,913 CPD. Retailers within 5 miles include Walmart, Target, Home Depot, Kroger, Hibbett Sports, Rainbow Shops, Citi Trends, Roses Discount Store, Sally Beauty, Petco, Ace Hardware, Dollar General, Family Dollar, Advance Auto Parts, AutoZone, CVS, Walgreens, T-Mobile, GameStop, and Planet Fitness. The property is 8 miles from the University of Cincinnati, a public university offering more than 300 majors and 100 certificate programs with a total enrollment of 53,235 as of Fall 2024. It is also 8 miles from Xavier University, a private Jesuit university with over 90 undergraduate programs and 5,504 students as of Fall 2024, 3 miles from UC Health Drake Center for Post-Acute Care, and 7.5 miles from the University of Cincinnati Medical Center with 724 licensed beds.
