Freddy's 20 Year Absolute NNN Sale-Leaseback
Retail | 5.50% CAP | 4,000 SqFt
Pasadena, Texas
$2,636,364
Price
5.50%
Cap Rate
$145,000
NOI
Century Partners Real Estate, Inc. is pleased to present the opportunity to acquire a brand-new 20-year absolute NNN sale-leaseback of a Freddy's Frozen Custard & Steakburgers restaurant located on Beltway 8 (Sam Houston Tollway) in Pasadena, Texas. The lease is guaranteed by Lone Star Custard Holdings, LLC, the second-largest operator in the Freddy's system with 47 restaurants across Texas, spanning the Dallas-Fort Worth, San Antonio, Austin, Houston, Rio Grande Valley, and Corpus Christi markets.
The property is strategically positioned at the Crenshaw / Fairmont Parkway node, the retail epicenter of the Pasadena trade area, with frontage on Beltway 8 / Sam Houston Tollway (24,000 VPD at the site; 64,000 VPD with strong visibility on the tollway mainlanes). The site is an outparcel of The Market at Crenshaw, shadow-anchored by Academy Sports and minutes from Walmart, Ross, HomeGoods, Marshalls, Best Buy, Super Target, Kohl's, and St. Luke's Health. The location is anchored by the Houston Ship Channel petrochemical complex, sustaining a deep blue-collar daytime and shift workforce. The trade area is affluent and fast-growing, with $94,547 1-mile median household income and +5.58% projected 1-mile population growth.
Advisors
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