235 12th St Ogden, UT 84404-5603

Property Details for 235 12th St

Year built

2015

Construction

WOOD FRAME

Lot size

0.92 lot acres

Property size

3,312 SF

Property type

Drive through restaurants

APN

12-260-0002

APU

122600002

Description

This exceptional investment opportunity presents a fee-simple ownership of a 3,435 square-foot Freddy's Frozen Custard & Steakburgers restaurant in Ogden, Utah. Located on 1.01 acres at 235 12th St, 84404, this single-tenant property boasts an absolute NNN lease with zero landlord responsibilities, providing a passive income stream. The lease, commencing May 5, 2015, and expiring May 31, 2030, has a remaining term of 5.5 years with two 10-year renewal options and 1.5% annual rent bumps. The property enjoys a 6.75% cap rate and a strong NOI of $185,561, with a current asking price of $2,749,000 ($800.29/sq ft). Situated in a high-traffic area with over 26,000 vehicles per day, this location benefits from its proximity to other national retailers, including Chick-fil-A, WinCo Foods, Natural Grocers, and Panda Express, within a dense retail corridor. The tenant, a subsidiary of JRI Hospitality, the largest Freddy's franchisee in the country, operates over 84 locations. This prime retail property offers a compelling investment opportunity with excellent real estate fundamentals and significant growth potential in a rapidly expanding market. The property features a one-story building with ample parking and high visibility due to its prominent location and large monument sign. This is a truly passive investment with a strong tenant and a long-term lease.

Location Insight

City

Ogden

County

Weber

State

Utah

Longitude

-111.975

Latitude

41.2438

CBSA code

36260

CBSA name

OGDEN-CLEARFIELD, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments