907 State Route 28, Milford, Ohio - For Sale
Freddy’s – Milford, OH
Offer Price
$2,440,000
About this property
Freddy’s – Milford, OH
Freddy’s has a 18 Years Remain 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 41 Freddy’s restaurants (including those currently under construction), making it the 6th largest Schlotzsky’s franchisee in the U.S.! The lease is further guaranteed by Ram-Z Restaurant Group that includes 33 Schlotzsky’s locations, making it the largest Schlotzsky’s franchisee in the country and 12 Popeyes locations in Alabama. (86 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 and 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 and most comprehensive adult Bone and Marrow Transplant Center; Brain Tumor Center; Oncology; Brain and Spine and Joint Replacement Center.
Property Highlights LONG-TERM LEASE- 18 Years Remain on Initial 20-year Absolute NNN lease with attractive 7.50% rental escalations every 5 years with four 5-year options to renew
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!
OPERATOR | TENANT- Ram-Z Custard, LLC is an experienced multi-concept owner/operator with 41 Freddy’s restaurants (including those currently under construction), making it the 6th largest Schlotzsky’s franchisee in the U.S.! The lease is further guaranteed by Ram-Z Restaurant Group that includes 33 Schlotzsky’s locations, making it the largest Schlotzsky’s franchisee in the country and 12 Popeyes locations in Alabama. (86 TOTAL UNIT GUARANTY). **All units back the performance of the lease!**
2025 VERY AFFLUENT DEMOGRAPHICS: Population: 77,197 and Average Household Income: $157,590
Year built: 2010
CAP rate: 6.25%
Tenant: Ram-Z Custard, LLC
Lease type: Absolute NNN
Lease expiration: 10/31/2044
Details: (Building & Land) Fee Simple
Building size: 3291 sq ft
Property Details
Location
Pricing Details
Listing Information
This listing is published by an independent lister. Antela does not act as a real estate broker, does not verify ownership, and does not guarantee the accuracy of listing information. Buyers and tenants should conduct their own independent due diligence before entering into any transaction.
This listing is published by an independent lister. Antela does not act as a real estate broker, does not verify ownership, and does not guarantee the accuracy of listing information. Buyers and tenants should conduct their own independent due diligence before entering into any transaction.