1770 Scenic Hwy N | Snellville, GA 30078
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1770 Scenic Hwy N
Snellville, GA 30078
Freddy's Steakburger - Snellville, GA · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 8+ years remain on this franchisee signed lease with 3 (5-year) options to extend
- Founded in 2011, JRI Hospitality owns and operates over 80 restaurants in 15 states, including Freddy’s Frozen Custard & Steakburgers and more
- Surrounding national/credit tenants such as Chipotle, Outback, Zaxby’s, McDonald’s, as well as several big box retailers such as Target, Best Buy, R
- 10% rental increases every 5 years including option periods
- Located at the signalized, hard corner intersection of Scenic Hwy N and Tree Ln (57,400 VPD)
- Directly next to Presidential Commons, a 375,000+ SF Kroger and The Home Depot anchored shopping center
EXECUTIVE SUMMARY
• 8+ years remain on this franchisee signed lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation
• Founded in 2011, JRI Hospitality owns and operates over 80 restaurants in 15 states, including Freddy’s Frozen Custard & Steakburgers, Mokas Cafe, The Original Grande, and Chompie’s Restaurants. They are the largest Freddy’s franchisee
• Freddy’s Frozen Custard & Steakburgers is a leading fast-casual franchise concept with more than 440 locations across 36 states nationwide
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• Investor benefits from leased fee interest (land ownership)
• No landlord responsibilities
• Ideal, management-free investment for a passive investor
• Freddy’s located at the signalized, hard corner intersection of Scenic Highway North and Tree Lane averaging 57,400 vehicles passing by daily
• Scenic Highway is a dense, primary retail corridor serving the city of Snellville with several national/credit tenants such as Chipotle, Outback, Zaxby’s, McDonald’s, and more
• The asset is directly next to Presidential Commons, a 375,000+ SF Kroger and The Home Depot anchored shopping center
• The immediate trade area is supported by several big box retailers such as Target, Best Buy, Ross, Lowe’s, Walmart Supercenter, and more
• Strong tenant synergy promotes crossover store exposure to the site
• More than 195,000 residents and 43,000 employees support the trade area
• Residents within a 1-mile radius boast an affluent average household income of over $130,000
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation
• Founded in 2011, JRI Hospitality owns and operates over 80 restaurants in 15 states, including Freddy’s Frozen Custard & Steakburgers, Mokas Cafe, The Original Grande, and Chompie’s Restaurants. They are the largest Freddy’s franchisee
• Freddy’s Frozen Custard & Steakburgers is a leading fast-casual franchise concept with more than 440 locations across 36 states nationwide
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• Investor benefits from leased fee interest (land ownership)
• No landlord responsibilities
• Ideal, management-free investment for a passive investor
• Freddy’s located at the signalized, hard corner intersection of Scenic Highway North and Tree Lane averaging 57,400 vehicles passing by daily
• Scenic Highway is a dense, primary retail corridor serving the city of Snellville with several national/credit tenants such as Chipotle, Outback, Zaxby’s, McDonald’s, and more
• The asset is directly next to Presidential Commons, a 375,000+ SF Kroger and The Home Depot anchored shopping center
• The immediate trade area is supported by several big box retailers such as Target, Best Buy, Ross, Lowe’s, Walmart Supercenter, and more
• Strong tenant synergy promotes crossover store exposure to the site
• More than 195,000 residents and 43,000 employees support the trade area
• Residents within a 1-mile radius boast an affluent average household income of over $130,000
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,332 SF
Building Class
B
Year Built
2016
Price
$3,050,000
Price Per SF
$915.37
Cap Rate
5.41%
NOI
$164,890
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.35 AC
Zoning
BG - Business General
Parking
49 Spaces (14.71 Spaces per 1,000 SF Leased)
Frontage
160’ on Scenic Highway
AMENITIES
- 24 Hour Access
PROPERTY TAXES
| Parcel Number | 5-056-367 | Improvements Assessment | $771,400 |
| Land Assessment | $113,400 | Total Assessment | $884,800 |
PROPERTY TAXES
Parcel Number
5-056-367
Land Assessment
$113,400
Improvements Assessment
$771,400
Total Assessment
$884,800
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