Popeyes (GL)

1517 NC 24-87, Cameron, NC 28326

$2,714,000

Cap Rate 6.00%

Views: 115 DOM: 133 Updated: 08.31.24 Posted: 07.10.24 Status: Active

Summary

Price $2,714,000	Built/Renov 2024	Tenant Popeyes (GL)
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 1,990	Lease Start 08-10-2024	#Units 8
Price/SF $1,363.82	Expiration 08-31-2039	Tenant Type Fast Food/QSR
NOI $162,864	R. Term 14.9	Ownership Ground Lease
Rent/SF $81.84	Increases 8.0%/5/yrs	Pop 5Mi 11,193
Lot/AC 1.13	Options 3/5yrs/8%	AHHI 5Mi $101,389

David Hoppe

Atlantic Capital Partners

Contact

Lease Highlights

Brand-new 2024 construction
New 15-year ground lease with 3 (5-year) options to extend
The lease features 8% rental escalations throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by Polo Restaurant Group ( 8 units backed)

Location Description

Popeyes is strategically located on NC 24-87, with access to a daily traffic count of 41,000 vehicles. The property is surrounded by well-known national tenants, including Food Lion, McDonald’s, Bojangles, Wendy’s, Dunkin', Valvoline, and more. Additionally, it is conveniently situated 12 miles from Fort Liberty, the largest military installation in the world, housing over 52,000 military...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Affluent AHHI $100K 5 Mi
Major MSA
Brand new lease
Long 15+ yr lease
Absolute NNN
Personal guarantee

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Links

Popeyes Wikipedia Popeyes Wikipedia Cameron, North Carolina Zip Code 28326 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Popeyes
Guarantor:Franchisee
Company:Polo Restaurant Group
# Units:8
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 :	9,321	20,402	43,721
2024 Total Population :	8,826	19,565	41,784
2024 Employed Civilian Pop :	2,164	5,743	14,291
2024 Total Businesses :	121	177	404
2024 Average Household Income :	$ 107,731	$ 116,196	$ 102,980
2024 Total Consumer Spending :	$ 230 M	$ 590 M	$ 1225 M
2024 Median Age :	26	28	31
2024 Total Households :	2,455	5,819	13,547
2024 Pop Age 25+: Bachelor's Degree :	1,193	2,542	4,805
2024 Average Home Value :	$ 302,986	$ 335,278	$ 295,259

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
		2019	20,000	0.52 mi
Nc 24-87	Melody Ln	2009	25,000	0.73 mi
NC 24;NC 87	Wilson Dr	2022	40,791	0.87 mi
NC 24	Nc 87 S	2022	3,750	1.30 mi
	Nc 24	2022	1,199	1.37 mi
NC 24	Nc 24	2022	3,859	1.49 mi
	Romona Collins Ct	2022	10,402	1.62 mi
	Nc 24-87	2022	1,272	1.71 mi
	Nc 24-87	2022	30,330	1.82 mi
Buffalo Lake Road	Rashell Ln	2019	13,500	2.17 mi

Listing Broker

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