Retail Business for Sale in Hot Springs, AR

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Hot Springs, AR 71913

Description

The subject property is an attractive Freddy’s Frozen Custard & Steakburgers located at the signalized corner of Central Avenue and Buena Vista Road, in Hot Springs, Arkansas. Newly constructed in 2019, this Freddy’s Frozen Custard & Steakburgers is situated as a pad to a Wal Mart Supercenter. The restaurant improvements consist of +/-3,145 sq. ft. situated on a +/-.86 acres of land providing 38 on-site parking spaces. Daily car count on Central Avenue is reported at 32,067. The tenant is FFC Franchise Group, a franchisee of Freddy’s Frozen Custard with headquarters in Wichita, Kansas. The tenant signed the lease under their FFC Midwest, LLC entity which currently operates 9 Freddy’s along with 7 other Freddy’s under their FFC SEC, LLC entity. FFC Franchise Group, under different subsidiaries, is also a franchisee of Taco Bell and Seven Brew Coffee. The existing ground lease is absolute triple net (NNN), requiring no landlord responsibilities. There are over 10 years remaining on the initial 15-year term lease that calls for eight (8.0%) percent fixed rent increases every 5 years. Tenant has 3-five year lease options at same terms & conditions. Freddy’s Frozen Custard & Steakburgers chain was founded in 2002 by brothers Bill and Randy Smith, along with their friend and business partner Scott Redler who created the Freddy’s restaurant chain as a tribute to Bill & Randy’s father, Freddy. The first location was in Wichita and has since grown to over 550 locations across 36 states. Hot Springs has a reported city population of 37,971 that will grow during the summer months with tourism. Located within proximity to a variety of demand generators including Hot Springs National Park famous for their historic thermal bath, Lake Ouachita State Park, a tranquil retreat situated on 40,000 acres perfect for boating, fishing, and hiking. Oaklawn Racing Casino is a year-round attraction for Hot Springs featuring both thoroughbred racing and casino gambling. In 2021, Oaklawn

Market Context

This retail in Hot Springs, AR is listed for sale. It is offered at an approximate 5.8% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 68 days. Compare it against other retail listings for sale in Hot Springs, AR — <a href="/search/sale/retail/arkansas/hot-springs">view the full market</a>.

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