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33840681
33840677

907 State Route 28, Milford, OH 45150

JZ
AZ SA545840000, NE NE 20070698
Commercial Investment Advisors (CIA) Scottsdale
Listed by Commercial Investment Advisors (CIA) Scottsdale
$2,440,000
1 day on market
Updated 1 day ago

FREDDY'S (20Yr. ABSOLUTE NNN) - MILFORD, OH

Details
Property Type Retail
Sub Type Bank, QSR/Fast Food (+1)
Square Footage 3,291
Cap Rate 6.25%
NOI $152,500
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 10/31/2044
Rent Bumps Yes
Lease Options Four 5-Year Renewal Options
Year Built 2010
Buildings 1
Acreage 1.106
Zoning C
Investment Type Net Lease
Lease Commencement 10/24/2024
Ground Lease No
Ownership Fee Simple

Retail | 6.25% CAP | 3,291 SqFt

Marketing description

Freddy’s has 18 years remaining on initial 20-year Absolute NNN lease with attractive 7.50% rental escalations every 5 years with four 5-year options to renew. The Tenant, Ram-Z Custard, LLC is an experienced multi-concept owner/ operator with 42 Freddy’s restaurants (including those currently under construction) making it the 6th largest Freddy’s franchisee in the U.S., and 34 Schlotzsky’s locations, the largest Schlotzsky’s franchisee in the country and 7 Popeyes locations in Alabama (83 TOTAL UNIT GUARANTY). **All units back the performance of the lease!**

The Asset is Positioned on a large ±1.106-acre lot with great access/visibility on Business 58 with traffic counts of 16,305 CPD! Retailers within 5 miles include Walmart, Target, Lowe’s Home Improvement, Home Depot, Meijer, Kohl’s, Cato Fashions, Big Lots, Kroger, Tractor Supply Co., Harbor Freight Tools, PetSmart, Dollar Tree, Dollar General, Sally Beauty, Scene 75 Entertainment Center, and Cinemark. It is 18 miles from University of Cincinnati - a public university offering more than 300 majors & 100 certificate programs with total enrollment of 53,235 (Fall 2024); 16 miles from Xavier University - a private Jesuit university with over 90 undergraduate programs with 5,504 students (Fall 2024); 11.5 miles from Jewish Hospital Mercy Health - a 209-licensed bed acute care hospital located in Kenwood, Ohio (a Cincinnati suburb) that provides convenient access from around the Tristate area. Their renowned services include the region’s first & most comprehensive adult Bone & Marrow Transplant Center; Brain Tumor Center; Oncology; Brain & Spine and Joint Replacement Center.

Investment highlights

  • LONG -TERM LEASE - 18 years remaining on initial 20-year Absolute NNN lease with attractive 7.50% rental escalations every 5 years with four 5-year options to renew
  • OPERATOR | TENANT - Ram-Z Custard, LLC is an experienced multi-concept owner/ operator with 42 Freddy’s restaurants (including those currently under construction) making it the 6th largest Freddy’s franchisee in the U.S., and 34 Schlotzsky’s locations, the largest Schlotzsky’s franchisee in the country and 7 Popeyes locations in Alabama (83 TOTAL UNIT GUARANTY). **All units back the performance of the lease!**
  • HIGH TRAFFIC COUNTS/VISIBILITY - Positioned on a large ±1.106-acre lot with great access/visibility on Business 58 with traffic counts of 16,305 CPD!
  • 2025 VERY AFFLUENT DEMOGRAPHICS: Population: 77,197 & Average Household Income: $157,590

Listing Contacts

JZ
AZ SA545840000, NE NE 20070698
Commercial Investment Advisors (CIA) Scottsdale
Listed by Commercial Investment Advisors (CIA) Scottsdale

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$152,500.00
$12,708.33/mo

Valuation Metrics

0
DSCR
6.25%
Cap Rate
6.25%
ROI

Map

Zoning

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B-2 CommercialGeneral CommercialGeneral Business
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Last updated Apr 20, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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