Castle Rock, CO
Price: $4,118,000
Cap Rate: 4.25%
Status: AVAILABLE

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Freddy’s Frozen Custard & Steakburgers
1346 New Beale Street | Castle Rock, CO 80108

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Blue West Capital is pleased to exclusively offer for sale a single tenant net leased Freddy’s Frozen Custard & Steakburgers property located in the Denver MSA. This Freddy’s sale leaseback features a 15-year absolute triple net lease that includes 10% rental increases every five years. This is a strong performing Freddy’s location with a low rent-to-sales ratio. The lease is guaranteed by ERC Development, LLC, a 16-unit operator with locations throughout the Denver MSA. Freddy’s has approximately 450 locations and is one of the fastest growing restaurant chains in the US.

The property is strategically positioned in the Promenade at Castle Rock as an outparcel to Lowe’s and across the street from the Outlets at Castle Rock. This is a regional retail destination attracting shoppers from throughout the Denver MSA and Colorado Springs MSA. The Promenade at Castle Rock and the Outlets at Castle Rock drew a combined 9.24 million visitors during 2021, averaging 75,000 per weekend, and is anchored by Sam’s Club, Lowe’s, Whole Foods, King Soopers, Hobby Lobby, and 24 Hour Fitness. The property is positioned at a signalized intersection and the surrounding area is affluent with average annual household incomes of $150,000 within five miles. The surrounding area is projected to grow by 2.25% annually over the next five years.

This property can be purchased individually or as a part of an eight-property portfolio. Download the portfolio flyer for details on the other available Freddy’s Frozen Custard Properties in the Denver MSA.

  • Located within the Denver MSA in an affluent and rapidly expanding area
  • Long term 15-year lease
  • 10% rental increases every five years 
  • Strategically positioned in the Promenade at Castle Rock as an outparcel to Lowe’s and across the street from the Outlets at Castle Rock, a regional retail destination attracting shoppers from throughout the Denver MSA and Colorado Springs MSA
  • Promenade at Castle Rock and the Outlets at Castle Rock drew a combined 9.24 million visits during 2021, an average of 75,000 visits per weekend, and is anchored by Sam’s Club, Lowe’s, Whole Foods, King Soopers, Hobby Lobby, and 24 Hour Fitness
  • Additional retailers located within this regional retail destination include Home Depot, Target, Walmart Supercenter, Murdoch’s Ranch & Home Supply, Kohl’s, TJ Maxx, and Ross Dress For Less
  • Positioned at a signalized intersection
  • Strong performing location with a low rent-to-sales ratio and upward trending sales (contact broker for details)
  • Absolute triple net lease with no landlord responsibilities 
  • Affluent surrounding area with average annual household incomes of $150,000 within five miles
  • Projected annual population growth of approximately 2.25% within one mile over the next five years
  • Located just west of I-25
  • Freddy’s Frozen Custard & Steakburgers has approximately 450 locations and ranked #8 as the Fastest Growing Chains in the U.S. (according to Technomic 2021)

OFFERING SUMMARY

Price: $4,118,000
Cap Rate: 4.25%

Building Size: 3,700 SF
Land Size:
50,791 SF

INVESTMENT CONTACT

ZACH WRIGHT
Director & Partner
Investment Sales
720.966.1628
Zach@BlueWestCapital.com

BRANDON WRIGHT
Associate
Investment Sales
720.828.7457
Brandon.Wright@BlueWestCapital.com

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2022-07-01T13:21:39-07:00
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