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Views: 111 DOM: 372 Updated: 08.06.24 Posted: 09.01.23 Status: Active

Summary

Price $2,435,000
Built/Renov 2022
Tenant Popeyes
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,300
Lease Start 11-01-2023
#Units 100
Price/SF $737.88
Expiration 10-31-2038
Tenant Type Fast Food/QSR
NOI $140,000
R. Term 14.1
Ownership Fee Simple
Rent/SF $42.42
Increases 1.5%/1/yrs
Pop 5Mi 141,378
Lot/AC 0.86
Options 5/5yrs/1.5%
AHHI 5Mi $132,002

Lease Highlights

  • Popeye’s will execute a brand new 15-year lease with 5 (5-year) options to extend at close of escrow
  • Lease features a 1.50% annual rental increase throughout the initial term and each option
  • Absolute NNN | Zero Landlord Responsibilities
  • Lease guaranteed by GOC RealCo, LLC (100+ units)

Location Description

Popeyes is strategically located along Lebanon Road (US Hwy 42) with access to 24,100 vehicles passing by daily. The property benefits from direct access onto Interstate 275 (127,400 VPD) and is near Interstate 75 and Interstate 71, allowing for easy and efficient commutes. The subject property is ideally situated within a dense retail corridor with national/credit tenants including Kroger,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Popeyes
  • Guarantor:Franchisee
  • Company:GOC RealCo, LLC
  • # Units:100
  • 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 that was founded in 1972 in New Orleans, LA. Popeyes distinguishes...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,396 36,692 143,392
2023 Total Population : 4,462 37,011 141,378
2023 Employed Civilian Pop : 2,217 18,883 72,548
2023 Total Businesses : 516 4,043 10,615
2023 Average Household Income : $ 109,355 $ 136,202 $ 132,002
2023 Total Consumer Spending : $ 185 M $ 1732 M $ 6359 M
2023 Median Age : 45 45 42
2023 Total Households : 1,966 14,892 56,414
2023 Pop Age 25+: Bachelor's Degree : 959 8,097 31,695
2023 Average Home Value : $ 300,961 $ 306,940 $ 335,027
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
RAMP FROM US42 TO IR275 WB 2021 7,435 0.12 mi
RAMP FROM US42 TO IR275 EB 2021 9,068 0.13 mi
Lebanon Rd Hauck Rd 2018 24,074 0.18 mi
RAMP FROM IR275 WB TO US42 Lebanon Rd 2021 8,733 0.19 mi
I 275 Enclave Ave 2021 91,164 0.19 mi
Hauck Rd Lebanon Rd 2011 10,330 0.22 mi
US 42 Hauck Rd 2021 22,076 0.25 mi
LEBANON RD 2020 21,300 0.25 mi
Lebanon Road Sharon PkLn 2021 15,114 0.30 mi
Hauck Road Hwy Dr 2021 9,455 0.43 mi

Listing Broker

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