235 12Th StOgden, UT 84404

Property Details for 235 12Th St

Year built

2015

Construction

WOOD FRAME

Lot size

0.92 AC

Property size (Sq ft)

3,312 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

12-260-0002

APU

122600002

Description

This exceptional investment opportunity presents a fee-simple ownership of a 3,435 square-foot Freddy's Frozen Custard & Steakburgers restaurant in Ogden, Utah. Located on 1.01 acres at 235 12th St, 84404, this single-tenant property boasts an absolute NNN lease with zero landlord responsibilities, providing a passive income stream. The lease, commencing May 5, 2015, and expiring May 31, 2030, has a remaining term of 5.5 years with two 10-year renewal options and 1.5% annual rent bumps. The property enjoys a 6.75% cap rate and a strong NOI of $185,561, with a current asking price of $2,749,000 ($800.29/sq ft). Situated in a high-traffic area with over 26,000 vehicles per day, this location benefits from its proximity to other national retailers, including Chick-fil-A, WinCo Foods, Natural Grocers, and Panda Express, within a dense retail corridor. The tenant, a subsidiary of JRI Hospitality, the largest Freddy's franchisee in the country, operates over 84 locations. This prime retail property offers a compelling investment opportunity with excellent real estate fundamentals and significant growth potential in a rapidly expanding market. The property features a one-story building with ample parking and high visibility due to its prominent location and large monument sign. This is a truly passive investment with a strong tenant and a long-term lease.

• CAP approach

  CAP return

  Valuation

  6%

  $1,286,060

  6.5%

  $1,187,132

  7%

  $1,102,337

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,672,169

  Geo Method

  $1,672,169

• Alternative Use

  Use

  Valuation

  Residential

  $1,001,390

  Hospitality

  $917,268

  Educational

  $763,156

  Medical

  $789,403

  Retail

  $1,187,132

Location Insight

City

Ogden

County

Weber

State

Utah

Latitude

41.2438

Longitude

-111.975

CBSA code

36260

CBSA name

OGDEN-CLEARFIELD, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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