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Andy's Frozen Custard | New 20yr Abs NNN 1200 E 15th St

2,271 SF Retail Building Edmond, OK 73013 $3,452,550 ($1,520/SF) 6% Cap Rate

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Investment Highlights

Brand- New 20 Year Lease | Annual Rental Increases | Options To Extend | Experienced Operator | Established Brand
Located Along 15th Street | Centralized Location | 2023 Construction | Drive-Thru Equipped | Canopy Prototype
Direct Residential Consumer Base | Affluent Community | Strong Demographics in 5-mile Trade Area

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Dense Trade Area | Major Surrounding Shopping Centers | Strong Tenant Presence

Executive Summary

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, drive-
thru equipped, freestanding, Andy’s Frozen Custard investment property located in Edmond, Oklahoma (Oklahoma City MSA). The tenant, Ranchers Custard Company LLC, recently signed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 1.5% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management free investment opportunity for a passive investor. Rancher’s Custard Company, LLC is an experienced franchisee currently operating 18 locations. Rancher’s Custard Company’s CEO is a highly experienced operator who worked directly for Andy’s Frozen Custard for 10 years before leaving to join Rancher’s Custard Company, which has been growing exponentially since his arrival.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

2,271 SF

Year Built

2023

Price

$3,452,550

Price Per SF

$1,520

Cap Rate

NOI

$207,154

Tenancy

Single

Building Height

1 Story

Building FAR

0.02

Land Acres

2.44 AC

Zoning

PUD - Planned Unit Development District

Parking

10.57 Spaces per 1,000 SF Leased

Amenities

Restaurant

Signage

Drive Thru

Accommodation and Food Services
99,999 SF
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Andy’s Frozen Custard is a quick-service frozen dessert business. They are a freestanding restaurant, with drive-through and walk-up service windows. They exclusively sell frozen custard treats. Andy’s has a wide variety of treats, from simple vanilla or chocolate cones to seasonal favorites. The Andy’s Frozen Custard tradition started in Osage Beach, Missouri when John and Carol Kuntz embarked on a new frozen custard endeavor. Their treat quickly became a legend at the lake, and soon took nearby Springfield, Missouri by storm. Andy's can now be found in 14 states, and has more than 100 locations open, with several more under construction.