Popeyes (GL)

1517 NC 24-87, Cameron, NC 28326

$2,714,000

Cap Rate 6.00%

Views: 56 DOM: 68 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 14.11	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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Listing Broker

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