Freddy's | Flowood MS
15-Yr Abs NNN Lease | Pad to 100-Acre Development
Marketing description
SRS Real Estate, LLC and SRS Real Estate Partners, LLC are pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, drive-thru equipped, newly built, Freddy’s Frozen Custard & Steakburgers (Freddy’s) investment property located in Flowood, MS (Jackson MSA). The tenant, MS Steakburger, LLC, recently signed a brand new 15-year lease with 4 (5-year) option periods to extend, demonstrating their long-term commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation. The lease is franchisee guaranteed and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 2002, Freddy’s is among the leading quick service restaurant chains with more than 500 locations across 36 states.
Freddy’s is strategically located along Lakeland Drive with clear visibility and access to an average of 54,000 vehicles passing by daily. Lakeland Drive / State Highway 25 is the primary retail corridor in the city, making it a centralized location with convenient access. The asset is ideally situated within a dense retail trade area and is near The Market at Grant’s Ferry (80K+ SF), Dogwood Festival Market (307K+ SF), Dogwood Promenade Mall (577K+ SF), Lakeland Commons (547K+ SF), and other major shopping centers. The surrounding tenants include ALDI, Kroger, Walmart Supercenter, Target, Lowe’s, Kohl’s, PetSmart, and others. The strong trade area drives a loyal, local consumer base to the area, providing crossover exposure and contributing to the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Carlton Park (100 units), Ashford Place (192 units), Laurel Park (312 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 57,500 residents and 29,500 daytime employees. Residents within 1-, 3-, and 5-miles of the asset boast a healthy average household income of $118,212, $112,678, and $109,895, respectively.
Investment highlights
Brand New 15-Year absolute NNN lease with zero landlord responsibilities and 5% rent increases every 5 years
Multi-unit franchisee with multiple locations in Colorado and Mississippi
Drive-thru equipped and located along Lakeland Drive, Flowood’s main retail corridor, with excellent visibility and access to 54,000 vehicles per day
Surrounded by key shopping centers such as Dogwood Festival Market (307K SF), Dogwood Promenade (577K SF), and Lakeland Commons (547K SF)
Freddy’s is part of Pinelands Development, a 100+ acre mixed-use project with a proposed 2-mile trail linking 23,000 homes, enhancing traffic for Freddy’s and neighboring retail brands like Popeyes, Discount Tire, Dunkin, Walgreens, Firestone, Tractor Supply Co., and others
The surrounding area ranks among Mississippi’s highest in per‑capita income, with an average household income around $146K
Nearby national retailers include Walmart, Target, Kroger, and Lowe’s
The 5-mile trade area is supported by 57,500 residents and over 29,500 daytime employees | AHHI is $109,895 within 5-mile radius
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