$3,789,500
3541 Hamner Ave Norco, CA 92860
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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$3,789,500
Est. payment /mo
0.49 Acres Lot
UPDATED:
09/30/2024 06:34 PM
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB24157613
HOA Y/N No
Year Built 2024
Lot Size 0.490 Acres
Property Description
We are pleased to present this sale-leaseback opportunity to purchase a brand new Freddy’s Frozen Custard & Steakburgers on a 20-year, absolute NNN lease with 10% rental increases throughout the primary term and options. The franchisee, Salim Development Group, LLC (SDG), will personally guaranty (high net worth) and is a multi-concept operator with over 22 businesses (3 Freddy's, 17 Wienerschnitzels, and multiple car washes). Freddy’s has a development agreement with SDG to build 12 total stores over the next 7 years, which an aggressive yet calculated growth plan (contact Broker for article link). Freddy’s currently has 512 locations which has grown from 400 just a few years ago. The site had it's grand opening on July 30, 2024, and is projected to do over $3M in annual sales (their Fontana location is on pace to do ~$2.9M in sales and Norco is projected to do more). SDG carefully hand picks all their locations, and self develops the majority. This care has led to SGD being one of the most profitable franchisees in each respective concept. This triple net lease includes an effective inflation hedge with 10% rental increases every 5 years including throughout the six 5-year options. Exceptionally located at the busy Hamner Avenue (37,000+ VPD), this location is projected to have exceptional sales volumes and be highly profitable, securing the investor sentiment that the rent will always be paid in full and on time.
Location
State CA
County Riverside
Area 250 - Norco
Interior
Fireplace No
Laundry None
Building
Lot Description 0-1 Unit/Acre
Story 1
Water Public
Others
Tax ID 131230027
Special Listing Condition Standard
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Listed by Paul Matysek • Matysek Investment Group, Inc. • paul@matysekinvestment.com
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Adrian Castillo
Principal/Realtor | CA DRE#01308935
Principal/Realtor CA DRE#01308935