Popeyes

1271 Highway 14, Millbrook, AL 36054

$1,958,000

Cap Rate 6.25%

Views: 123 DOM: 132 Updated: 10.02.24 Posted: 06.07.24 Status: Active

Summary

Price $1,958,000	Built/Renov 2021	Tenant Popeyes
Cap Rate 6.25%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,604	Lease Start 06-01-2023	#Units 61
Price/SF $751.92	Expiration 05-31-2043	Tenant Type Fast Food/QSR
NOI $122,400	R. Term 18.7	Ownership Fee Simple
Rent/SF $47.00	Increases 2.0%/1/yrs	Pop 5Mi 59,357
Lot/AC 1.60	Options 4/5yrs/2%	AHHI 5Mi $81,725

Lease Highlights

Popeyes has 18+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 2% annual rental increases throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by TICE Chicken AL, LLC (61 units backed)

Location Description

Popeyes is strategically located on Highway 14, with access to a high daily traffic count of 57,700 vehicles. The property is across the street from the new Grandview Plaza development, a shopping center anchored by Publix. Additionally, it is half a mile from The Marketplace at 17 Springs, a mixed-use development featuring retail and office space, residential units above the retail spaces,...

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Key Features

New construction
Dense retail corridor
Near major nationals
Strategically located
Freeway close
Major MSA
Long 15+ yr lease
Absolute NNN
Annual rent increases
50+ unit franchisee backed

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Links

Popeyes Wikipedia Popeyes Wikipedia Millbrook, Alabama Zip Code 36054 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Popeyes
Guarantor:Franchisee
Company:TICE Chicken AL, LLC
# Units:61
Tenant S&P: BB
Stock: NYSE: QSR

About Tenant

Popeyes Louisiana Kitchen, Inc., also known as Popeyes, is an American multinational chain of fried chicken fast food restaurants founded in 1972 in New Orleans, LA. Popeyes distinguishes itself...

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Listing Broker

Gary Chou

Berkeley Capital Advisors

Contact

34 Listings
4566 Views
0 Sold

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
22924 Views
21 Sold

Gary Chou

With nearly a decade of experience in commercial real estate sales, Gary Chou leads Berkeley Capital Advisors’ West Coast office with a focus on Single Tenant Net Lease, Net Lease Portfolios, and Corporate Sale Leasebacks. Having brokered over 1,300 transactions totaling $3.5 billion, he and his team are highly regarded as one of the most active brokerage teams in the country and serve some of the world’s largest corporate companies, public and private REITs, private equity funds, developers, f

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Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
23738 Views
23 Sold

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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