Popeyes (GL)

1800 Mt Holly Rd, Burlington, NJ 08016

$2,314,000

Cap Rate 5.10%

Views: 106 DOM: 208 Updated: 09.18.24 Posted: 04.27.24 Status: Contract

Summary

Price $2,314,000	Built/Renov 2024	Tenant Popeyes (GL)
Cap Rate 5.10%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,518	Lease Start 07-19-2023	#Units 112
Price/SF $918.98	Expiration 07-18-2043	Tenant Type Fast Food/QSR
NOI $118,000	R. Term 18.8	Ownership Ground Lease
Rent/SF $46.86	Increases 10.0%/5/yrs	Pop 5Mi 136,900
Lot/AC 0.61	Options 2/5yrs/10%	AHHI 5Mi $99,172

Alan Cafiero

Marcus & Millichap

Contact

Lease Highlights

Brand new 2024 construction
Popeyes has 19 years remaining on the current ground lease term with 2 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by AR Group (112 units backed)

Location Description

Popeyes is strategically located at the signalized, hard-corner intersection of Mt Holly Road and Kelly Drive, with access to a combined daily traffic count of 27,040 vehicles. The property boasts convenient proximity, being only 3⁄4 of a mile from I-295, 1.2 miles from Route 130, and 3.3 miles from the NJ Turnpike. Surrounding the area are well-known national tenants such as Lidl, ShopRite,...

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Key Features

New construction
Signalized intersection
Near major nationals
Freeway close
Top 100 MSA
Strong demographics
Brand new lease
Long 20+ yr lease
Absolute NNN
100+ unit franchisee backed

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Links

Popeyes Wikipedia Popeyes Wikipedia Burlington, New Jersey Zip Code 08016 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Popeyes
Guarantor:Franchisee
Company:AR Group
# Units:112
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
2028 Total Population :	5,675	59,980	140,747
2023 Total Population :	5,560	59,788	140,587
2023 Employed Civilian Pop :	2,272	31,322	73,167
2023 Total Businesses :	211	1,610	4,091
2023 Average Household Income :	$ 98,304	$ 113,330	$ 111,870
2023 Total Consumer Spending :	$ 177 M	$ 2132 M	$ 5112 M
2023 Median Age :	45	41	42
2023 Total Households :	2,123	22,044	53,525
2023 Pop Age 25+: Bachelor's Degree :	665	9,307	21,479
2023 Average Home Value :	$ 331,998	$ 318,970	$ 339,348

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Mount Holly Rd	Kelly Dr	2013	18,926	0.06 mi
Burlington Bypass		2018	8,155	0.30 mi
Sunset Rd	Rancocas Rd	2006	16,747	0.31 mi
Burlington Byp	Middle School Dr	2006	12,712	0.33 mi
Mount Holly Road	Mount Holly	2017	18,816	0.37 mi
Mount Holly Road		2018	18,093	0.41 mi
Rancocas Ave	14th St	2006	5,741	0.41 mi
Fountain Avenue	Mount Holly Rd	2017	3,672	0.47 mi
Fountain Ave	Gerome Ave	2006	4,934	0.48 mi
Mount Holly	Cadillac Dr	2010	33,960	0.54 mi

Listing Broker

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