Popeyes

81 Midtown Boulevard, Madisonville, KY 42431

$2,240,000

Cap Rate 5.00%

Views: 242 DOM: 391 Updated: 09.19.24 Posted: 10.27.23 Status: Active

Summary

Price $2,240,000	Built/Renov 2021	Tenant Popeyes
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,000	Lease Start 12-01-2024	#Units 35
Price/SF $746.67	Expiration 11-30-2044	Tenant Type Fast Food/QSR
NOI $112,000	R. Term 20.0	Ownership Fee Simple
Rent/SF $37.33	Increases 7.5%/5/yrs	Pop 5Mi 26,330
Lot/AC 1.26	Options 4/5yrs/7.5%	AHHI 5Mi $76,359

Lease Highlights

New build | 2021 construction with double drive-thru
Popeyes to sign a new 20-year lease with 4 (5-year) options to extend upon close of escrow
The lease features 7.5% rental increases every 5 years
Absolute NNN lease | Zero landlord responsibilities
Strong operator | Currently operates ± 35 Popeyes & BK units & expanding

Location Description

The subject property is conveniently located on Midtown Blvd., just off E. Center St. which sees in excess of 20,200 vehicles passing by daily. It is also within close proximity to Interstate 69, (25,530 VPD), and across the street from the Madisonville Hopkins County Sports Complex, a new development to be built. Popeye’s is less than a mile from many major neighborhood traffic generators,...

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Key Features

Near major nationals
Freeway close
Strong tenant synergy
Highway close
New development zone
Brand new lease
Long 20+ yr lease
Absolute NNN
Traded and rated company
25+ unit franchisee backed

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Links

Popeyes Wikipedia Popeyes Wikipedia Madisonville, Kentucky Zip Code 42431 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Popeyes
Guarantor:Franchisee
Company:Franchisee
# Units:35
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 :	3,922	18,432	25,922
2023 Total Population :	3,976	18,719	26,287
2023 Employed Civilian Pop :	1,413	7,560	10,698
2023 Total Businesses :	354	1,027	1,216
2023 Average Household Income :	$ 56,133	$ 65,090	$ 68,676
2023 Total Consumer Spending :	$ 85 M	$ 465 M	$ 660 M
2023 Median Age :	39	42	42
2023 Total Households :	1,745	8,112	10,923
2023 Pop Age 25+: Bachelor's Degree :	195	1,655	2,295
2023 Average Home Value :	$ 169,556	$ 159,696	$ 166,683

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Brown Rd	Cs-1038-10	2003	6,289	0.30 mi
Brown Rd	Athey Dr	2015	3,051	0.35 mi
Pennyrile Pkwy	E Center St	2010	6,559	0.35 mi
Brown Road	Valley Dr	2021	4,001	0.41 mi
Brown Road	Athey Dr	2021	3,334	0.41 mi
East Center Street	Madison Square Dr	2018	17,997	0.41 mi
East Center Street	Madison Square Dr	2022	17,056	0.41 mi
Brown Rd	South Dr	2014	5,256	0.43 mi
E Center St	Pennyrile Pkwy	2010	3,468	0.47 mi
E Arch St	Bradley St	2014	5,297	0.48 mi

Listing Broker

Gary Chou

Berkeley Capital Advisors

Contact

34 Listings
5503 Views
0 Sold

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
27473 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
28481 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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