Freddy's Frozen Custard & Steakburgers | 1402 S Main St
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Freddy's Frozen Custard & Steakburgers 1402 S Main St
2,357 SF Retail Building Laurinburg, NC 28352 £2,202,163 (£934/SF) 6% Net Initial Yield
INVESTMENT HIGHLIGHTS
- HIGHLY VISIBLE AND TRAFFICKED LOCATION
- FAST GROWING BRAND
- ATTRACTIVE LEASE FUNDAMENTALS
EXECUTIVE SUMMARY
ATTRACTIVE LEASE FUNDAMENTALS
- New 15 year NNN lease
- 8% rent increases every 5 years
- No Landlord responsibilities
FAST GROWING BRAND
- Freddy’s currently has over 300 locations in 31 states
- Expansion plans include to have over 600 stores by middle of 2024
NEW STATE OF THE ART BUILDING
- Building is being built to suit Freddy’s concept
- Warranties will be assigned to new owner
POSITIONED ON A RETAIL CORRIDOR
- Over 1.7MSF of retail space located in a 1-mile radius
- Nearby National QSRs include: Burger King, Arby’s, Biscuitville, McDonald’s, Bojangles, and Dunkin
HIGHLY VISIBLE AND TRAFFICKED LOCATION
- Fronting S. Main St (14,500 VPD)
- Approximately 1/3 mile to I-74 (20,500 VPD)
- Two points of ingress & egress (S. Main St & Biggs St)
- 1.25 Miles to Downtown Laurinburg
SO-PAK-CO FACILITY
- So-Pak-Co, a food processor and packager, chose Laurinburg for its new operation
- $85M project
- 440 new jobs
- State Economic Impact totaling $1.5B
- New 15 year NNN lease
- 8% rent increases every 5 years
- No Landlord responsibilities
FAST GROWING BRAND
- Freddy’s currently has over 300 locations in 31 states
- Expansion plans include to have over 600 stores by middle of 2024
NEW STATE OF THE ART BUILDING
- Building is being built to suit Freddy’s concept
- Warranties will be assigned to new owner
POSITIONED ON A RETAIL CORRIDOR
- Over 1.7MSF of retail space located in a 1-mile radius
- Nearby National QSRs include: Burger King, Arby’s, Biscuitville, McDonald’s, Bojangles, and Dunkin
HIGHLY VISIBLE AND TRAFFICKED LOCATION
- Fronting S. Main St (14,500 VPD)
- Approximately 1/3 mile to I-74 (20,500 VPD)
- Two points of ingress & egress (S. Main St & Biggs St)
- 1.25 Miles to Downtown Laurinburg
SO-PAK-CO FACILITY
- So-Pak-Co, a food processor and packager, chose Laurinburg for its new operation
- $85M project
- 440 new jobs
- State Economic Impact totaling $1.5B
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,357 SF
Building Class
C
Year Built
2023
Price
£2,202,163
Price Per SF
£934
Net Initial Yield
6%
NOI
£132,153
Tenancy
Single
Number of Floors
1
Building FAR
0.07
Lot Size
0.80 AC
Zoning
GB
Parking
40 Spaces (16.97 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signage
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 01-0064-01-002 | Improvements Assessment | £163,265 |
| Land Assessment | £178,289 | Total Assessment | £341,554 |
PROPERTY TAXES
Parcel Number
01-0064-01-002
Land Assessment
£178,289
Improvements Assessment
£163,265
Total Assessment
£341,554
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Freddy's Frozen Custard & Steakburgers | 1402 S Main St
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