Freddy's Frozen Custard & Steakburgers
QSR at Dominant Corner Lot of Signalized Intersection
Marketing description
Approximately 10.5 years remaining on an absolute NNN ground lease that calls for 8.0% fixed rent increases every 5 years. Newly constructed in 2019, Freddy's Frozen Custard & Steakburgers picked this location due to its corner parcel at a busy signalized intersection situated in front of a Wal Mart Supercenter.
The city of Hot Springs, Arkansas has a current population of 37,971 that grows during the summer months with tourism. Hot Springs National Park, famous for their historic thermal baths draws in people, along with Lake Ouachita State Park that is situated on 40,000 acres perfect for boating, fishing and hiking. Oaklawn Racing Casino is a year-round attraction in Hot Springs featuring both thoroughbred racing and casino gambling. Located less than 1 mile south of the subject property is Lake Hamilton (7,200 acres of surface water) that is home to resorts and vacation rentals.
Investment highlights
- Over 10 years remaining on absolute NNN ground lease
- Fixed rent increases every 5 years
- Corner location at signalized intersection in front of a Wal Mart Supercenter
- Seasoned location for tenant
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