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Views: 149 DOM: 167 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 18.6
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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Maps

  • 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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 2,908 32,054 60,907
2024 Total Population : 2,713 31,166 59,450
2024 Employed Civilian Pop : 1,242 13,360 26,431
2024 Total Businesses : 104 944 1,767
2024 Average Household Income : $ 101,646 $ 98,032 $ 94,303
2024 Total Consumer Spending : $ 97 M $ 1059 M $ 1940 M
2024 Median Age : 38 37 38
2024 Total Households : 1,091 12,251 23,320
2024 Pop Age 25+: Bachelor's Degree : 453 5,106 9,424
2024 Average Home Value : $ 261,052 $ 240,651 $ 227,742
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
AL 14 Camp Grandview Rd 2021 31,182 0.05 mi
SR 14 Camp Grandview Rd 2019 33,189 0.21 mi
State Rte 14 I- 65 2009 27,170 0.22 mi
I- 65 2021 3,245 0.32 mi
I 65 State Hwy14 2021 45,619 0.34 mi
Grand Oaks Boulevard Camp Grandview Rd 2014 4,330 0.38 mi
Dismukes Rd 2021 3,553 0.40 mi
Camp Grandview Road Mountain Ridge Rd 2021 4,514 0.41 mi
AL 14 State Hwy14 2021 10,636 0.44 mi
I- 65 State Rte 14 2014 8,810 0.47 mi

Listing Broker

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