Tucson, AZ -- Freddy’s Frozen Custard & Steakburgers at 10205 E Old Vail Road in Tucson sold to a California investor, Gokel Family Living Trust, for $2.29 million ($692 PSF). The 3,300-square-foot building was built and opened in 2015 on a one-acre pad in Las Plazas and is the fourth location in metro Tucson for Freddy's.
The property is located across from the Walmart Supercenter-anchored Houghton Town Center, which includes Panda Express, Taco Bell, Verizon, McDonald' s, Dunkin' Donuts, AutoZone, Freddy's, and Northwest Emergency Room Hospital.
Property sold as an investment sale with 15-year absolute net lease to Freddy's Frozen Custard & Steakburgers and sold at a 6.04% cap rate.
John Andreini and Katie Galvin with Capital Pacific in San Francisco represented the seller / developer, Las Plazas Freddy’s LLC of Buckeye, AZ. Rick and Bob Sanner also with Capital Pacific represented the investor in the transaction.
Andreini can be reached at 415.274.2715, Galvin is at 415.274.7392 and the Sanners should be contacted at 415.274.2700
To learn more, go to RED Comp #3501.